White House Press Briefing by Dana Perino 01/23/07 VIDEO

Press Briefing by Dana Perino, FULL STREAMING VIDEO, Running time is 22:08, James S. Brady Press Briefing Room, Dana M. Perino Biography, 1:49 P.M. EDT.

MS. PERINO: First, a note for Connie Lawn, who is celebrating 40 years in the business. And she brought treats for everybody in our office, which you're welcome to partake in. (Applause.) Yea for Connie.

The President is currently meeting with the U.S. -- some representatives from the U.S. Conference of Mayors. They have their meeting this week in Washington, D.C., so the President is meeting with them, talking to them about free trade agreements and about the economy. And you'll have his pool remarks in a little bit. I sort of waited to see if I could wait for him, because he's usually running early, but it didn't work, so I'm a little bit late. I apologize for that.

Q News flash. (Laughter.)

Q Senator Reid wants the President to support a one-month extension of FISA. Is he okay with that?

MS. PERINO: Well, the Senate has had six months in order to work on this bill. In the letter that he wrote to the President today he said they'd been working diligently on it. I did see yesterday that he was going to move forward and push the bill -- try to push the bill through the Senate this week. They have 10 days -- or about nine days now until the bill expires, until the law expires. And we would like to see him be able to try to get this done. He's already said he's going to try to get it through the Senate, and then the House can pick it up.

Q To follow on that --

MS. PERINO: FISA?

Q Yes. In theory, what is so odious about keeping the current law in place until all sides can hash out the various differences?

MS. PERINO: Well, look, there's been six months to hash out the differences. Actually, we've been -- there's been a whole year-and-a-half worth of hashing out the differences on this bill. And there was a robust debate, a hardy debate back in August, when we got the bill that we have now. We did not think it was wise to put a six-month sunset on this bill at the time.

Over the next six months the Senate Intelligence Committee passed a bipartisan measure that could -- that we think is supportable. We have one thing that we could -- one part of it that we disagree with in terms of one of the amendments -- I think the Wyden amendment is the one we've identified. But we do believe that the Senate Intelligence bill represents a bipartisan solution to this, and that's what is on the Senate floor. And we believe that the Senate should be able to work through this, and we're hopeful that they'll be able to get it done this week, as he said he wanted to do.

Q And if they can't, then?

MS. PERINO: Well, I think that we should wait and see, and we're hopeful that they can get it done this week.

Q Are you prepared for filibuster? Senator Dodd said today that if the measure that emerged from all of this contained the liability protection for telecom companies, that he would filibuster. Are you prepared for a filibuster?

MS. PERINO: I haven't heard him say he'd filibuster, although I guess he had said that back when he was on a campaign trail, as well. So maybe he has re-upped that commitment. Look, we think that there can be debate on the Senate floor, that this is not a debate that's just been taking place the past couple of days. They've had debate since August and, prior to that, about a year's worth of debate about this bill. So there's been plenty of time for everyone to have their say.

And the Senate Intelligence Committee has a bill that they reported out in a bipartisan fashion; it was 13 to 2. We can support that provision with some minor changes, and we'd like to see them get it done this week. And then it can go to -- and then it can -- and then that bill can presumably be sent over to the House, and they can pass it next week, because we have about nine days until the deadline expires.

Q Dana, do you know in the budget that comes out February 4, will the costs of the economic stimulus be reflected in the budget deficit in that?

MS. PERINO: Yes.

Q It will be?

MS. PERINO: Yes.

Q On FISA --

Q Can we finish with the budget deficits --

MS. PERINO: The economy? Okay.

Q -- since we're on that? What do you think of this new CBO estimate that shows the slowing economy having a pretty dramatic effect on increasing the debt?

MS. PERINO: Well, I don't know how they come to their -- all of the numbers at CBO. It's a little bit -- math is not my strong suit. But they certainly have said something that we said back in July, which is we think that there will be an increase in the deficit, a small one. And the details of what we think in terms of deficit projections will be out in full on February 4th once our budget comes out. What's important to note is that we believe that that short-term increase in the deficit will be because of the consensus that the leaders agree with that there -- we should have a economic stimulus package.

We're going to be working towards that. But at the same time, the President is going to continue to urge spending restraint so that we can make sure that it's temporary and we can get back on track so we can continue to have the benefits of the increased tax revenues that we've enjoyed over the past few years stemming from the President's tax cuts in 2003.

The other thing I would point is that CBO announced today that they are not forecasting a recession. The administration economists are not forecasting a recession, but what you do have consensus on is that we need to have a short-term shot in the arm for the economy so that we can avoid a potential downturn.

Q Does it not worry you that the legacy of this administration is going to be hundreds of billions of dollars of extra debt?

MS. PERINO: I think we're still on track to get a balanced budget by 2012.

Q Dana, in a press conference this morning, Senator Schumer criticized what he called President Bush's "laissez-faire" attitude on housing and the economy and he's --

MS. PERINO: Sorry, who is this?

Q Senator Schumer. And he said if Democrats had had their way, "things would have been done a lot more strongly and earlier." Rahm Emanuel is having a press conference --

MS. PERINO: I'm sorry, he's saying this about housing?

Q Let me finish, let me finish. Rahm Emanuel is also having a press conference right now, blasting the President's economic policies. Does it concern you that Democrats say they want to work with you, but then some of them in the same breath seem to be blaming the White House --

MS. PERINO: Sure. And it's so typical of how many people work in Washington, and quite unfortunate. And I think it's really ironic, if that is an accurate quote -- and I have not seen the comments -- that they would have done more on housing or they would have acted more quickly. It was this President who, on August 31st, put forward a package, asking Congress to act on it; they did nothing. And for the past year and a half, we've asked for modernization of the Federal Housing Administration; they've done nothing. And another Senator that was just mentioned, who had been out on the campaign trail, hadn't even been able to hold committee votes. And so I find it really ironic that they would suggest that this President hasn't tried to do enough on housing, because we have.

Not only have we acted through the administration and through our executive branch powers, trying to pick up the slack where Congress hasn't worked on the important work of the American people, but also Treasury Secretary Paulson and Secretary Jackson at HUD both worked together so that they could create a private sector initiative in order to help people who are facing foreclosure.

So we have done our part on housing. We're trying to do more, and we want to work with Congress to get it done. The President is committed to working in a bipartisan fashion. And I would hope that those individuals would take a step back and realize that we have an opportunity to get something done on behalf of the American people. But if they want to go down that road and not work with the administration, the label of the "do-nothing Congress" could stick in 2008 as it did in 2007.

Q Do you think this could get in the way of getting something --

MS. PERINO: I certainly -- everything that I heard from Secretary Paulson and from the President and from the leaders yesterday is that there is a lot of commitment to working together. It was nothing but a very good meeting yesterday, amicable and substantive, both on the economy and on the Middle East. And that was from -- in a bipartisan fashion.

Go ahead, Caren.

Q On the budget outlook, you released figures in December that, even at that time, were viewed as very optimistic about the economy. I think your projection for growth was 2.6 percent for this year. And you have several major investment houses on Wall Street projecting a recession. Maybe the CBO isn't projecting that, but many people on Wall Street are betting on that. And I'm just wondering if you have any plans to revise those figures, because they're going to form the basis of your budget outlook, and I wonder if people are going to take them seriously if the underlying growth forecast is --

MS. PERINO: I don't know of any plans to renew -- redo numbers. But I'm sure that CEA Chairman Eddie Lazear is on top of things, as is Secretary Paulson. The budget is going to come out on February 4th. But I would also note that -- you've said that -- there might be many economists who are forecasting a recession; there's lots of people saying lots of different things about the economy. There's no shortage of people opining on the issue. What I mentioned is that CBO and the White House and the administration are not forecasting a recession, but we are facing economic slowdown, which is why we want to have the package that we are looking for. So if there's going to be an update in terms of the numbers, we can let you know.

Q So does this economic slowdown or downturn or recession -- whatever you want to call it -- if it's a slowdown --

MS. PERINO: It is a slowdown, for sure.

Q Does what you call the "do-nothing Congress of 2007" -- do they share some of the blame for the fact that we are facing this slowdown?

MS. PERINO: I'm not blaming anyone. But what I am saying is anyone who is suggesting that this President should have done more on housing should not be saying that if it is, in fact, the Congress who hasn't acted at all. That's my point. I'm not blaming this on anybody.

Go ahead, Paula.

Q You're saying that basically $150 billion is going to be factored into the budget. Have you set priorities in what the non-defense discretionary spending cuts will be to balance that out?

MS. PERINO: I'll refer you to OMB. The budget comes out in about a week and they'll have details for you.

Q And as far as the stimulus package goes, would it be accurate to say that everything other than tax increases is negotiable, and that includes the size and the scope of the package?

MS. PERINO: What I said yesterday remains true today, which is we are not closing any doors, and I'm going to let Secretary Paulson have those discussions in private because that's the best way to have a negotiation.

Q Can you talk about the part of the meeting yesterday that was related to the Middle East and just what the back-and-forth was on that?

MS. PERINO: Sure. The President gave them quite a lengthy debriefing as to what he heard and what he saw on his trip. He certainly talked about foreign investment and the concern for some of the countries -- most of the countries that he talked to that America might not be open for business, for foreign investment. So the President talked to them about that.

He talked to them a lot about Israel and the Palestinian Territories, and about his conversations with Prime Minister Olmert and President Abbas and why he feels optimistic.

He talked to them a lot about how he heard in the region people's concern about Iran. And he said that we remain committed to making sure that we solve this issue diplomatically, and that, as you see, with the P5-plus-1, that the world continues to agree that Iran should not have a nuclear weapon.

And then there was some back-and-forth in regards to that. They talked about the price of oil. And the President did say he had brought up the price of oil with the leaders that he met with. So it was a good discussion, a good back-and-forth.

Q Is there any policy that he's looking for from Congress this year that relates to --

MS. PERINO: Well, not -- he didn't say so specifically. Certainly, he will be looking to make sure that there is nothing that tries to close off the doors to foreign investment. And that's true not just in the -- for the Middle Eastern region, but around the world. And one of the things the President is doing right now is talking to the mayors who are in town about the importance of free trade agreements. Right now we're looking at Colombia, South Korea and Panama. And when the President came in, I believe that there were three free trade agreements on the books; now we have agreements with 14 countries. So he's going to continue to try to push for that.

Also, the President had heard a concern about visa policies and immigration policies. And the President is going to just make sure that we're being thoughtful as we think through the balance of what we have to do in this country. We want people to be able to come in and visit our country, and study in our country, and do business in our country -- and at the same time, we have to make sure that we are protecting our citizens. So those are the things we'll be looking for.

Connie.

Q Dana, thank you. To follow up on what you said about Gaza yesterday, today the situation seems to be easing a slight bit. But does the U.S. have any --

MS. PERINO: Say that again?

Q That the situation in Gaza is easing a slight bit today; there have only been three rockets strikes --

MS. PERINO: I think I would disagree. Well, it's true that Israel has helped alleviate some of the blockade problems, but the situation on the border with Egypt and Gaza is quite serious today, and we are very concerned about it. We have been in touch with those parties, including many in the Egyptian government. The State Department has made those connections, and so I'd refer you to them.

Our focus right now should be on restoring the situation. And we note that the genesis of this problem is something I've mentioned over the past couple of days, which is Hamas sending in -- sending over to Israel about -- upwards of 150 rockets a day that are landing in their territory. And so Israel is defending itself. And we think the situation is quite serious and not alleviated at all.

Q Does the U.S. have any contact with anyone in Hamas? Is there any pressure, direct pressure the U.S. can put on?

MS. PERINO: As you know, we've had a policy of not talking with Hamas.

Go ahead, Les.

Q Thank you very much, Dana. Has the White House seen any action by Israel to do what we heard the President ask, to give the Palestinian Authority back all land Israel occupied after the 1967 war? That's the first question.

MS. PERINO: That's one of the things that -- the issue of borders and security and settlements is going to be on the agenda when Prime Minister Olmert and President Abbas sit down to work out and negotiate all the details. So I'll decline to comment until they work it out.

Q So if that's an accurate description, that the President wants them to give back all the land they occupied after 1967 --

MS. PERINO: They're going to work that out, and we'll see what they come up with.

Q All right. Second, Agency French Presse reports that Iran has reported that Russia has delivered the fifth consignment of nuclear power plant fuel, bringing to 55 tons the nuclear fuel supplied by Russia so far. And my question: Does the President believe that such deliveries actually will bring about the conclusion of Iran's pursuit of a nuclear enrichment program?

MS. PERINO: The President welcomed the idea that President Putin had, which is to help provide Iran with civil nuclear power so that they could have that power and have that access, but not be able to enrich. And Russia stands by us on that, as well. So the President did support that move. He does believe that all countries have a right to have civil nuclear power.

Q Thank you.

Q Dana, on the financial literacy executive order, are you intending to come up with some legislation after that group meets or --

MS. PERINO: I think we'll have to see, because that group is going to provide the President with some recommendations, and from that it could be that they would recommend some legislative changes. It's too early to say.

Go ahead, Goyal.

Q Just two questions. One, some members of Congress on the Hill are calling that President should consider free trade agreement with India also. I mean, President has not --

MS. PERINO: I haven't heard that, but I'll check.

Q And second, as far as the Vice President's speech this morning at the Heritage Foundation, he called, of course, that Congress must pass this FISA, but also he said that as far as the terrorist attack is concerned, we did not have any major attack since 9/11, but we cannot guarantee that there won't be another one. But my question is that he also said that we have to flush out terrorists and punish those who are training and helping them. Do we know where are those terrorists and who is helping and what --

MS. PERINO: We're finding terrorists around the world. That's been obvious since 9/11 -- something we're having to confront.

Q Are we working on that?

MS. PERINO: Absolutely.

Nadia, go ahead.

Q Just to clear up on the Gaza situation. Do you see a separation between the need to alleviate the suffering of one-and-a half million Palestinians in Gaza and the fact that Israel has -- (inaudible) -- Hamas as an organization?

MS. PERINO: Absolutely. We're very concerned not just for Israel and their concerns about their security, but also we want to prevent, as well -- and Prime Minister Olmert says he wants to prevent a humanitarian crisis there in Gaza. The blame for this problem can be laid squarely at the feet of Hamas. But we are going to continue to work with the Israelis and the Palestinians -- meaning Prime Minister Olmert and President Abbas -- so that we can make sure that the Palestinians know that they can have hope and they can have a state, and they have a choice to make on who they want to follow.

Q Can I follow on that just for a second? While President Bush was in the Middle East, Secretary Rice told The Jerusalem Post that Egypt has to do more. She said, those tunnels need to be addressed. And she said, we're prepared to give assistance, but the will to do this is very important. And of course, those tunnels have been a problem for quite some time prior to the President's trip to the Middle East. Now, today, again, the border crossings becomes an issue that lacks control by the Egyptians. And yet, when President Bush met face-to-face with the Egyptian President, Hosni Mubarak, the President only thanked him for his constructive support of the Middle East peace process. What evidence is there of Egypt's support for that --

MS. PERINO: Well, that's not true, James. He did talk to President Mubarak -- not in the press availability, you don't have everything --

Q Not what I saw, what I was able to see.

MS. PERINO: Well, the President did discuss with President Mubarak the need to make sure that Hamas does not have the ability to smuggle in weapons and money into and out of Gaza. And they did have that discussion.

Q And so what evidence is there that the Egyptians have taken it to heart?

MS. PERINO: Well, as I said, the State Department has reached out to the Egyptians. We think this is an urgent situation and we want to restore security. But right now, at this moment, I don't have an answer for you as to what they responded.

Q According to reporting this morning, President Mubarak personally approved the crossings --

MS. PERINO: I saw that reporting, too, and that's one of the things we called them about.

Q So obviously he wasn't listening --

MS. PERINO: I saw the reporting. I don't know what Secretary Rice and her team -- I'm sorry, I didn't hear your last part?

Q I said I don't -- it's clear he wasn't listening if they did talk about it.

MS. PERINO: Well, let me wait and see what the State Department has. They are the ones who have been in contact with the Egyptians.

Q Any reaction to that study out from the Center for Public Integrity and the Fund for Independence in Journalism, where they did what they called a count of hundreds of false statements made by the President and top administration officials regarding the threat posed by Iraq -- and they counted in the two years after 9/11 --

MS. PERINO: I have to think that the study is worth spending any time on -- it is so flawed in terms of taking anything into context or including -- they only looked at members of the administration, rather than looking at members of Congress or people around the world. Because as you'll remember, we were part of a broad coalition of countries that deposed a dictator based on a collective understanding of the intelligence.

And the other thing that that study fails to do is to say that after realizing that there was no WMD, as we thought as a collective body that there was, that this White House, the President set about to make reforms in the intelligence community to make sure that it doesn't happen again.

Roger.

Q On Friday, the President's remarks to House Republicans in West Virginia, can you give us a preview of what topics he's going to cover?

MS. PERINO: Well, there's going to be a lot of different topics. Obviously economy is going to be front and center. This is a meeting, as I understand it, that House leaders put together to talk about the coming year, so it's quite broad-based. I think he will talk about FISA and trying to get that passed through the Senate and the House before the deadline expires on February 1st. He will certainly talk about, as I said, the economy, war on terror, possibly health care. I think that I need to wait until we get a little bit closer. Let me look at it tomorrow.

Q Kind of a legislative agenda from --

MS. PERINO: Yes, a little bit, sure. And then, of course, the other thing the President does, he doesn't just talk at them the whole time; he allows them to ask a lot of questions, too.

Q We'll be in there for that, too?

MS. PERINO: The question and answer? I don't think so. (Laughter.)

Q We'll get to talk at him, won't we? (Laughter.)

Q How about just the answers? (Laughter.)

MS. PERINO: And you can guess the question?

Okay, go ahead.

Q Some of us can do the questions and some of us can do the answers. (Laughter.)

Q Regarding the removal in North Korea from the list of terrorist states, what is the United States government -- (inaudible) --

MS. PERINO: Well, regarding whether or not North Korea will be removed from the State Sponsor of Terrorism list, first and foremost, the ball is in North Korea's court right now. The agreement that we made with them is that there would be actions for actions. And right now, we are waiting on North Korea to release -- or to give to us their complete and accurate declaration of all of their nuclear activities, including proliferation activities. We don't have that yet from them; therefore, there's not any movement on any of the other parts of the agreement. So that's where we are right now. The ball is in their court. We are waiting for them.

Q That answer suggests, Dana, that the decision about whether to remove North Korea from the terror list is contingent on a quid pro quo, rather than on the merits of whether they should be on the list or not.

MS. PERINO: That's not what I was suggesting. So -- of course, there's a lot of factors that go into the President's decision as to whether or not to remove a country from the State Sponsor of Terrorism list. But where we are right now at this moment is waiting for North Korea to give to us their complete and accurate declaration that they said they would give to us last February.

Q So you're not concerned, for example, about the prospect that North Korea was proliferating with Syria --

MS. PERINO: I said that all of those activities -- nuclear activities, proliferation, et cetera, and I'm not commenting on anything specific, but all of those activities have to be disclosed.

Q They're not anywhere close to being removed, then?

MS. PERINO: I would say it's definitely not imminent. And so we need to have that declaration before we could even talk about any next steps.

Q Thank you.

END 2:11 P.M. EST

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The Federal Open Market Committee lowers funds rate 75 basis points

The Federal Open Market Committee has decided to lower its target for the federal funds rate 75 basis points to 3-1/2 percent.

The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth. While strains in short-term funding markets have eased somewhat, broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households. Moreover, incoming information indicates a deepening of the housing contraction as well as some softening in labor markets.

The Committee expects inflation to moderate in coming quarters, but it will be necessary to continue to monitor inflation developments carefully.

Appreciable downside risks to growth remain. The Committee will continue to assess the effects of financial and other developments on economic prospects and will act in a timely manner as needed to address those risks.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Charles L. Evans; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Eric S. Rosengren; and Kevin M. Warsh. Voting against was William Poole, who did not believe that current conditions justified policy action before the regularly scheduled meeting next week. Absent and not voting was Frederic S. Mishkin.

In a related action, the Board of Governors approved a 75-basis-point decrease in the discount rate to 4 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of Chicago and Minneapolis.

Federal Reserve Press Release. Release Date: January 22, 2008, For immediate release

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A Goodbye Statement from Fred Thompson

Today I have withdrawn my candidacy for President of the United States. I hope that my country and my party have benefited from our having made this effort.

Jeri and I will always be grateful for the encouragement and friendship of so many wonderful people.

Posted on January 22nd, 2008 By Fred in Statements

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President Visits Martin Luther King, Jr., Memorial Library VIDEO PODCAST

President George W. Bush and Laura Bush are joined by Washington, D.C. Mayor Adrian Fenty, right, and Ginnie Cooper, Chief Librarian for the Washington, D.C. libraries, left, posing for photos with children and staff at a reading class commemorating Martin Luther King, Jr., Day Monday, Jan. 21, 2008, at the Martin Luther King, Jr., Memorial Library. White House photo by Eric Draper President George W. Bush speaks with volunteers, thanking them for their service, during a visit to the Martin Luther King, Jr., Memorial Library Monday, Jan 21, 2008, in Washington, D.C., in commemoration of Martin Luther King, Jr., Day. White House photo by Eric Draper

President Bush Visits Martin Luther King, Jr., Memorial Library FULL STREAMING VIDEO Martin Luther King, Jr., Memorial Library Washington, D.C. In Focus: African American History 9:42 A.M. EST. PODCAST OF THIS ARTICLE THE PRESIDENT: Thanks for having us. Listen, Laura and I are thrilled to be with you. Proud to be with the Mayor and Councilman Jack Evans. We appreciate very much the Serve D.C. that is working to inspire volunteerism, and I want to thank this beautiful library for hosting us. I just got a couple of comments I want to say. First of all, Martin Luther King Day means two things to me. One is the opportunity to renew our deep desire for America to be a land of promise for everybody, a land of justice, and a land of opportunity. It's also an opportunity to serve our fellow citizens. They say Martin Luther King Day is not a day off, it should be a day on. And so today Laura and I witnessed acts of compassion as citizens were here in the library volunteering their time, and that's what's happening all across America today. But a day on should be not just one day. It really ought to be every day. And our fellow citizens have got to understand that by loving a neighbor like you'd like to be loved yourself, by reaching out to someone who hurts, by just simply living a life of kindness and compassion, you can make America a better place and fulfill the dream of Martin Luther King.

Martin Luther King is a towering figure in the history of our country. And it is fitting that we honor his service and his courage and his vision. And today we're witnessing people doing just that by volunteering their time.

So we're honored to be with you. We're proud to be with you on this important national holiday. Mr. Mayor, thank you for coming. Jack, glad you're here. Appreciate you all taking time out of your day to visit with us.

Thank you.

END 9:44 A.M. EST For Immediate Release Office of the Press Secretary January 21, 2008

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Contact lenses with circuits, lights a possible platform for superhuman vision

Contact lenses with metal connectors for electronic circuits were safely worn by rabbits in lab tests. University of Washington

Movie characters from the Terminator to the Bionic Woman use bionic eyes to zoom in on far-off scenes, have useful facts pop into their field of view, or create virtual crosshairs. Off the screen, virtual displays have been proposed for more practical purposes -- visual aids to help vision-impaired people, holographic driving control panels and even as a way to surf the Web on the go.

The device to make this happen may be familiar. Engineers at the University of Washington have for the first time used manufacturing techniques at microscopic scales to combine a flexible, biologically safe contact lens with an imprinted electronic circuit and lights.

"Looking through a completed lens, you would see what the display is generating superimposed on the world outside," said Babak Parviz, a UW assistant professor of electrical engineering. "This is a very small step toward that goal, but I think it's extremely promising." The results were presented today at the Institute of Electrical and Electronics Engineers' international conference on Micro Electro Mechanical Systems by Harvey Ho, a former graduate student of Parviz's now working at Sandia National Laboratories in Livermore, Calif. Other co-authors are Ehsan Saeedi and Samuel Kim in the UW's electrical engineering department and Tueng Shen in the UW Medical Center's ophthalmology department.

There are many possible uses for virtual displays. Drivers or pilots could see a vehicle's speed projected onto the windshield. Video-game companies could use the contact lenses to completely immerse players in a virtual world without restricting their range of motion. And for communications, people on the go could surf the Internet on a midair virtual display screen that only they would be able to see. "People may find all sorts of applications for it that we have not thought about. Our goal is to demonstrate the basic technology and make sure it works and that it's safe," said Parviz, who heads a multi-disciplinary UW group that is developing electronics for contact lenses.

A researcher holds one of the completed lenses. University of Washington

The prototype device contains an electric circuit as well as red light-emitting diodes for a display, though it does not yet light up. The lenses were tested on rabbits for up to 20 minutes and the animals showed no adverse effects.

Ideally, installing or removing the bionic eye would be as easy as popping a contact lens in or out, and once installed the wearer would barely know the gadget was there, Parviz said.

Building the lenses was a challenge because materials that are safe for use in the body, such as the flexible organic materials used in contact lenses, are delicate. Manufacturing electrical circuits, however, involves inorganic materials, scorching temperatures and toxic chemicals. Researchers built the circuits from layers of metal only a few nanometers thick, about one thousandth the width of a human hair, and constructed light-emitting diodes one third of a millimeter across. They then sprinkled the grayish powder of electrical components onto a sheet of flexible plastic. The shape of each tiny component dictates which piece it can attach to, a microfabrication technique known as self-assembly. Capillary forces -- the same type of forces that make water move up a plant's roots, and that cause the edge of a glass of water to curve upward -- pull the pieces into position.

The prototype contact lens does not correct the wearer's vision, but the technique could be used on a corrective lens, Parviz said. And all the gadgetry won't obstruct a person's view.

"There is a large area outside of the transparent part of the eye that we can use for placing instrumentation," Parviz said. Future improvements will add wireless communication to and from the lens. The researchers hope to power the whole system using a combination of radio-frequency power and solar cells placed on the lens, Parviz said.

A full-fledged display won't be available for a while, but a version that has a basic display with just a few pixels could be operational "fairly quickly," according to Parviz.

The research was funded by the National Science Foundation and a Technology Gap Innovation Fund from the University of Washington. ###

Contact: Hannah Hickey hickeyh@u.washington.edu 206-543-2580 University of Washington

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Freedom Calendar 01/19/08 - 01/26/08

January 19, 1818, Birth of anti-slavery activist Alvan Bovay, who organized first meeting of Republican Party in 1854, to oppose Democrats’ pro-slavery policies.

January 20, 2001, Mississippi Republican Rod Paige is confirmed as first African-American U.S. Secretary of Education; calls for school choice to allow poor and minority children to “throw off their chains”.

January 21, 1813, Birth in Georgia of John C. Fremont – abolitionist, western explorer, U.S. Senator from California, U.S. Army general, Arizona Governor, and first Republican presidential candidate.

January 22, 2001, Republican Condoleezza Rice becomes first woman and second African-American to serve as U.S. National Security Advisor.

January 23. 1993, Death of Judge John Robert Brown, leader in fight for Southern desegregation; appointed by President Eisenhower to U.S. Court of Appeals.

January 24, 2001, Republican Mel Martínez, appointed by President George W. Bush as U.S. Secretary of Housing and Urban Development, becomes first Cuban-American in Cabinet.

January 25, 2001, U.S. Senate Republican Policy Committee declares school choice to be “Educational Emancipation”.

January 26, 1922, House passes bill authored by U.S. Rep. Leonidas Dyer (R-MO) making lynching a federal crime; Senate Democrats block it with filibuster.

"I do order and declare that all persons held as slaves within said designated States, and parts of States, are, and henceforward shall be free; and that the Executive government of the United States, including the military and naval authorities thereof, will recognize and maintain the freedom of said persons.”

Abraham Lincoln, 16th President of the United States

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Presidential Podcast 01/19/08

Presidential Podcast 01/19/08 . Subscribe to Our Podcast feed or online podnova Podcast Channel and receive the weekly Presidential Radio Address in English and Spanish with select State Department Briefings. Featuring full audio and text transcripts, More content Sources added often so stay tuned. In Focus: Economy

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Bush radio address 01/19/08 full audio, text transcript

bush radio address 01/19/08 full audio, text transcript. President's Radio Address . In Focus: Economy

Subscribe to Our Podcast feed or online podnova Podcast Channel and receive the weekly Presidential Radio Address in English and Spanish with select State Department Briefings. Featuring real audio and full text transcripts, More content Sources added often so stay tuned.

THE PRESIDENT: Good morning. Yesterday, I visited Wright Manufacturing -- a business in Frederick, Maryland that makes commercial lawn mowers. Businesses like Wright are the driving force behind our economic success. They create jobs and opportunities for millions of workers. And entrepreneurs like those at Wright Manufacturing keep our economy growing.

This is a challenging period for our economy, and I know many of you listening are concerned about the future. My advisors and many outside experts expect that our economy will continue to grow over the coming year, but at a slower rate than we have enjoyed for the past few years. And there's a risk of a downturn. Continued instability in the housing market, for example, could cause additional harm to the overall economy, and put our growth and job creation in jeopardy.

In recent months, we have taken steps to shore up the housing sector -- including measures to help struggling homeowners avoid foreclosure and keep their homes. I have also asked Congress to pass legislation to modernize the Federal Housing Administration and enable it to provide more assistance to struggling homeowners. Congress needs to send me a bill with these reforms right away.

After careful consideration, and discussion with members of Congress, I have concluded that additional action is needed to keep our economy growing and creating jobs. Congress and my Administration need to work together to enact an economic growth package as soon as possible.

As Congress considers such a plan, there are certain principles that should guide their deliberations: This growth package must be big enough to make a difference in an economy as large and dynamic as ours -- which means it should be about one percent of GDP. This growth package must be built on broad-based tax relief that will directly affect economic growth -- not the kind of spending projects that would have little immediate impact on our economy. This growth package must be temporary and take effect right away -- so we can get help to our economy when it is needed most. And this growth package must not include any tax increases.

Specifically, this growth package should bolster both business investment and consumer spending, which are critical to economic growth. This requires two key provisions: To be effective, a growth package must include tax incentives for American businesses -- including small businesses -- to make investments in their enterprises this year. And it must also include direct and rapid income tax relief for Americans like you.

Passing a new growth package is our most pressing economic priority. And when that is done, Congress must turn to the most important economic priority for our country -- making sure the tax relief now in place is not taken away from you. Unless Congress acts, the marriage penalty will make a comeback, the child tax credit will be cut in half, the death tax will come back to life, and tax rates will go up on regular income, capital gains, and dividends. This tax increase would put jobs and economic growth at risk. So it is critical that Congress make this tax relief permanent.

I am optimistic about our economy, because people like you have shown time and again that Americans are the most industrious, creative, and enterprising people in the world. That is what has made our economy strong. And that is what will make it stronger in the challenging times ahead.

Thank you for listening.

END For Immediate Release Office of the Press Secretary January 19, 2008

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Discurso Radial del Presidente a la Nación 01/19/08

forre el audio de la dirección de radio 1/19/08 por completo, transcripción del texto. (nota de los redactores: ninguna lengua española mp3 lanzó esta semana, apesadumbrada) PODCAST

Suscribir a nuestro canal de Podcast de Odeo o del podnova y recibir la dirección de radio presidencial semanal en inglés y español con informes selectos del departamento del estado. Ofreciendo transcripciones audio y con texto completo verdaderas, más fuentes contentas agregaron a menudo así que la estancia templó.

Buenos Días.

Ayer visité a Wright Manufacturing – un negocio en Frederick, Maryland que fabrica cortacéspedes comerciales. Los negocios como Wright son la fuerza motriz detrás de nuestro éxito económico. Crean empleos y oportunidades para millones de trabajadores. Y empresarios como aquellos en Wright Manufacturing mantienen creciendo a nuestra economía.

Este es un período de desafío para nuestra economía y sé que muchos de ustedes están preocupados en cuanto al futuro. Mis asesores y muchos expertos externos esperan que la economía siga creciendo en el próximo año, pero a una tasa más lenta que la que hemos gozado en los últimos años. Y hay el riesgo de una baja. Por ejemplo, si continúa la inestabilidad en el mercado de la vivienda, podría causar daño adicional a la economía en su conjunto, y poner en peligro a nuestro crecimiento y la creación de empleos.

En meses recientes, hemos tomado pasos para apuntalar el sector de la vivienda – incluyendo medidas para ayudar a dueños de casa con dificultades a evitar la ejecución hipotecaria y quedarse con sus hogares. También he pedido al Congreso que apruebe legislación para modernizar la Administración Federal de la Vivienda y permitirle ofrecer más ayuda a dueños de casa con dificultades. El Congreso debe enviarme sin demora un proyecto de ley con estas reformas.

Después de minuciosa consideración y discusión con miembros del Congreso, he llegado a la conclusión de que se necesita acción adicional para mantener creciendo a nuestra economía y crear empleos. El Congreso y mi Administración necesitan trabajar juntos para promulgar un paquete para el crecimiento económico lo más pronto posible.

Mientras el Congreso considera un tal plan, hay ciertos principios que deberán orientar sus deliberaciones: Este paquete de crecimiento debe ser lo suficientemente grande para hacer una diferencia en una economía tan grande y dinámica como la nuestra – lo que significa que deberá ser de aproximadamente un por ciento del Producto Nacional Bruto, o GDP por sus siglas en inglés. Este paquete de crecimiento deberá estar basado en un alivio tributario de base amplia que afecte directamente al crecimiento económico – no el tipo de proyectos de gastos que tendría poco impacto inmediato sobre nuestra economía. Este paquete de crecimiento debe ser provisional y ponerse en práctica inmediatamente – a fin de que podamos ayudar a nuestra economía cuando más lo necesita. Y este paquete de crecimiento no debe incluir ningún aumento en los impuestos.

Específicamente, este paquete de crecimiento deberá estimular tanto la inversión comercial como los gastos por consumidores, que son críticos para el crecimiento económico. Esto exige dos disposiciones claves: para ser efectivo, un paquete de crecimiento debe incluir incentivos tributarios para los negocios estadounidenses – incluyendo los pequeños negocios – para que inviertan en sus empresas este año. Y también debe incluir alivio del impuesto sobre los ingresos que sea directo y rápido para estadounidenses como ustedes.

El aprobar un nuevo paquete de crecimiento es nuestra prioridad económica más urgente. Y cuando se haya logrado, el Congreso deberá virar su atención a la prioridad económica más importante para nuestro país – la de asegurar que no se les quite el alivio tributario actualmente en efecto. A menos de que el Congreso actúe, la penalidad por matrimonio volverá a aparecer, el crédito tributario por hijo(a) menor será cortado por la mitad, el impuesto por defunción aparecerá de nuevo y subirán las tasas de los impuestos sobre el ingreso ordinario, las ganancias de capital y los dividendos. Este aumento en los impuestos pondría en riesgo los empleos y el crecimiento económico. De modo que es crítico que el Congreso haga permanente este alivio tributario.

Me siento optimista en cuanto a nuestra economía, ya que continuamente personas como ustedes han mostrado que los estadounidenses son las personas más trabajadoras, creativas y emprendedoras en el mundo. Es eso que ha hecho fuerte a nuestra economía. Y es eso que la hará más fuerte en los tiempos de desafío por delante.

Gracias por escuchar.

Para su publicación inmediata Oficina del Secretario de Prensa 19 de enero de 2008

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President Bush Discusses Economy, Growth Package VIDEO

With Vice President Dick Cheney looking on, President George W. Bush delivers a statement in the Roosevelt Room of the White House Friday, Jan. 18, 2007, regarding the economy of the United States. White House photo by Joyce N. Boghosian

President Bush Discusses Economy, Growth Package FULL STREAMING VIDEO running time is 6:48 Roosevelt Room In Focus: Economy and Fact Sheet: Taking Action to Keep Our Economy Healthy 11:34 A.M. EST. THE PRESIDENT: Over the past several months I've held a series of meetings with my economic team on the outlook for the U.S. economy. And before I left for the Middle East, I directed them to conduct a thorough assessment of our economic condition, consult with members of Congress, and provide me with their recommendations about any actions we might need to take. The economic team reports that our economy has a solid foundation, but that there are areas of real concern. Our economy is still creating jobs, though at a reduced pace. Consumer spending is still growing, but the housing market is declining. Business investment and exports are still rising, but the cost of imported oil has increased.

My administration has been watching our economy carefully. My advisors and many outside experts expect that our economy will continue to grow over the coming year, but at a slower rate than we have enjoyed for the past few years. And there is a risk of a downturn. Continued instability in the housing and financial markets could cause additional harm to our overall economy, and put our growth and job creation in jeopardy.

In recent months, we've taken steps to shore up the housing market, including measures to help struggling homeowners avoid foreclosure and to keep their homes. I've also asked Congress to pass legislation to modernize the Federal Housing Administration and enable it to provide additional assistance to struggling homeowners. The House passed a bill and the Senate passed a bill, and now they need to get together and get a bill to my desk as quickly as possible.

After careful consideration, and after discussions with members of Congress, I have concluded that additional action is needed. To keep our economy growing and creating jobs, Congress and the administration need to work to enact an economic growth package as soon as possible.

As Congress considers such a plan, there are certain principles that must guide its deliberations: This growth package must be big enough to make a difference in an economy as large and dynamic as ours -- which means it should be about 1 percent of GDP. This growth package must be built on broad-based tax relief that will directly affect economic growth -- and not the kind of spending projects that would have little immediate impact on our economy. This growth package must be temporary and take effect right away -- so we can get help to our economy when it needs it most. And this growth package must not include any tax increases.

Specifically, this growth package should bolster both business investment and consumer spending, which are critical to economic growth. And this would require two key provisions: To be effective, a growth package must include tax incentives for American businesses, including small businesses, to make major investments in their enterprises this year. Giving them an incentive to invest now will encourage business owners to expand their operations, create new jobs, and inject new energy into our economy in the process.

To be effective, a growth package must also include direct and rapid income tax relief for the American people. Americans could use this money as they see fit -- to help meet their monthly bills, cover higher costs at the gas pump, or pay for other basic necessities. Letting Americans keep more of their own money should increase consumer spending, and lift our economy at a time when people otherwise might spend less.

Yesterday, I spoke to members of the congressional leadership from both political parties. They shared with me their thoughts on the best way forward. And I was encouraged by those discussions and I believe there is enough broad consensus that we can come up with a package that can be approved with bipartisan support. I've asked Treasury Secretary Hank Paulson to lead my administration's efforts to forge an agreement with Congress, so that we can deliver this needed boost to our economy as quickly as possible.

Passing a new growth package is our most pressing economic priority. When that is done, Congress must turn to the most important economic priority for our country, and that's making sure the tax relief that is now in place is not taken away. A source of uncertainty in our economy is that this tax relief is set to expire at the end of 2010. Unless Congress acts, the American people will face massive tax increases in less than three years. The marriage penalty will make a comeback; the child tax credit will be cut in half; the death tax will come back to life; and tax rates will go up on regular income, capital gains, and dividends. This tax increase would put jobs and economic growth at risk, and Congress has a responsibility to keep that from happening. So it's critical that Congress make this tax relief permanent.

We're in the midst of a challenging period, and I know Americans are concerned about our economic future. But our economy has seen challenging times before -- and it is resilient.

In a vibrant economy, markets rise and decline. We cannot change that fundamental dynamic. As a matter of fact, eliminating risk altogether would also eliminate the innovation and productivity that drives the creation of jobs and wealth in America. Yet there are also times when swift and temporary actions can help ensure that inevitable market adjustments do not undermine the health of the broader economy. This is such a moment.

By passing an effective growth package quickly, we can provide a shot in the arm to keep a fundamentally strong economy healthy. And it will help keep economic sectors that are going through adjustments, such as the housing market, from adversely affecting other parts of our economy.

I'm optimistic about our economic future, because Americans have shown time and again that they are the most industrious, creative, and enterprising people in the world. That is what has made our economy strong. That is what will make it stronger in the challenging times ahead.

Thank you. END 11:38 A.M. EST

For Immediate Release Office of the Press Secretary January 18, 2008

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Ben S. Bernanke Testimony House Budget Cmte. VIDEO

Fed. Chairman Ben Bernanke at House Budget Cmte. Hearing on the Economy running time is 2:40:33. Ben Bernanke, Federal Reserve System Chair., testifies about the near-term outlook for the U.S. Economy. He appears before the House Budget Cmte., chaired by Rep. John Spratt (D-SC).

Mr. Bernanke comments on proposals for an economic stimulus package. Critics have asked for a cut in interest rates. 1/17/2008: WASHINGTON, DC:

Testimony Chairman Ben S. Bernanke The economic outlook Before the Committee on the Budget, U.S. House of Representatives January 17, 2008

Chairman Spratt, Representative Ryan, and other members of the Committee, I am pleased to be here to offer my views on the near-term economic outlook and related issues.

Developments in Financial Markets: Since late last summer, financial markets in the United States and in a number of other industrialized countries have been under considerable strain. Heightened investor concerns about the credit quality of mortgages, especially subprime mortgages with adjustable interest rates, triggered the financial turmoil. Notably, as the rising rate of delinquencies of subprime mortgages threatened to impose losses on holders of even highly rated securities, investors were led to question the reliability of the credit ratings for a range of financial products, including structured credit products and various special-purpose vehicles. As investors lost confidence in their ability to value complex financial products, they became increasingly unwilling to hold such instruments. As a result, flows of credit through these vehicles have contracted significantly.

As these problems multiplied, money center banks and other large financial institutions, which in many cases had served as sponsors of these financial products, came under increasing pressure to take the assets of the off-balance-sheet vehicles onto their own balance sheets. Bank balance sheets were swelled further by holdings of nonconforming mortgages, leveraged loans, and other credits that the banks had extended but for which well-functioning secondary markets no longer existed. Even as their balance sheets expanded, banks began to report large losses, reflecting marked declines in the market prices of mortgages and other assets. Thus, banks too became subject to valuation uncertainty, as could be seen in the sharp movements in their share prices and in other market indicators such as quotes on credit default swaps. The combination of larger balance sheets and unexpected losses prompted banks to become protective of their liquidity and balance sheet capacity and thus to become less willing to provide funding to other market participants, including other banks. Banks have also evidently become more restrictive in their lending to firms and households. More-expensive and less-available credit seems likely to impose a measure of restraint on economic growth.

The Outlook for the Real Economy: To date, the largest effects of the financial turmoil appear to have been on the housing market, which, as you know, has deteriorated significantly over the past two years or so. The virtual shutdown of the subprime mortgage market and a widening of spreads on jumbo mortgage loans have further reduced the demand for housing, while foreclosures are adding to the already-elevated inventory of unsold homes. New home sales and housing starts have both fallen by about half from their respective peaks. The number of homes in inventory has begun to edge down, but at the current sales pace the months' supply of new homes has continued to climb, and home prices are falling in many parts of the country. The slowing in residential construction, which subtracted about 1 percentage point from the growth rate of real gross domestic product in the third quarter of 2007, likely curtailed growth even more in the fourth quarter, and it may continue to be a drag on growth for a good part of this year as well.

Recently, incoming information has suggested that the baseline outlook for real activity in 2008 has worsened and that the downside risks to growth have become more pronounced. In particular, a number of factors, including continuing increases in energy prices, lower equity prices, and softening home values, seem likely to weigh on consumer spending as we move into 2008. Consumer spending also depends importantly on the state of the labor market, as wages and salaries are the primary source of income for most households. Labor market conditions in December were disappointing; the unemployment rate increased 0.3 percentage point, to 5.0 percent from 4.7 percent in November, and private payroll employment declined. Employment in residential construction posted another substantial reduction, and employment in manufacturing and retail trade also decreased significantly. Employment in services continued to grow, but at a slower pace in December than in earlier months. It would be a mistake to read too much into one month's data. However, developments in the labor market will bear close attention.

In the business sector, investment in equipment and software appears to have been sluggish in the fourth quarter, while nonresidential construction grew briskly. In light of the softening in economic activity and the adverse developments in credit markets, growth in both types of investment spending seems likely to slow in coming months. Outside the United States, however, economic activity in our major trading partners has continued to expand vigorously. U.S. exports will likely continue to grow at a healthy pace in coming quarters, providing some impetus to the domestic economy.

Financial conditions continue to pose a downside risk to the outlook. Market participants still express considerable uncertainty about the appropriate valuation of complex financial assets and about the extent of additional losses that may be disclosed in the future. On the whole, despite improvements in some areas, the financial situation remains fragile, and many funding markets remain impaired. Adverse economic or financial news thus has the potential to increase financial strains and to lead to further constraints on the supply of credit to households and businesses.

Even as the outlook for real activity has weakened, some important developments have occurred on the inflation front. Most notably, the same increase in oil prices that may be a negative influence on growth is also lifting overall consumer prices. Last year, food prices also increased exceptionally rapidly by recent standards, further boosting overall consumer price inflation. The most recent reading on overall personal consumption expenditure inflation showed that prices in November were 3.6 percent higher than they were a year earlier. Core price inflation (which excludes prices of food and energy) has stepped up recently as well, with November prices up almost 2-1/4 percent from a year earlier. Part of this rise may reflect pass-through of energy costs to the prices of core consumer goods and services, as well as the effects of the depreciation of the dollar on import prices, although some other prices--such as those for some medical and financial services--have also accelerated lately.1

Thus far, the public's expectations of future inflation appear to have remained reasonably well anchored, and pressures on resource utilization have diminished a bit. Further, futures markets suggest that food and energy prices will decelerate over the coming year. Given these factors, overall and core inflation should moderate this year and next, so long as the public's confidence in the Federal Reserve's commitment to price stability is unshaken. However, any tendency of inflation expectations to become unmoored or for the Fed's inflation-fighting credibility to be eroded could greatly complicate the task of sustaining price stability and reduce the central bank's policy flexibility to counter shortfalls in growth in the future. Accordingly, in the months ahead we will be closely monitoring the inflation situation, particularly inflation expectations.

Monetary Policy Response: The Federal Reserve has taken a number of steps to help markets return to more orderly functioning and to foster its economic objectives of maximum sustainable employment and price stability. Broadly, the Federal Reserve's response has followed two tracks: efforts to improve market liquidity and functioning and the pursuit of our macroeconomic objectives through monetary policy.

To help address the significant strains in short-term money markets, the Federal Reserve has taken a range of steps. Notably, on August 17, the Federal Reserve Board cut the discount rate--the rate at which it lends directly to banks--by 50 basis points, or 1/2 percentage point, and it has since maintained the spread between the federal funds rate and the discount rate at 50 basis points, rather than the customary 100 basis points. In addition, the Federal Reserve recently unveiled a term auction facility, or TAF, through which prespecified amounts of discount window credit can be auctioned to eligible borrowers. The goal of the TAF is to reduce the incentive for banks to hoard cash and increase their willingness to provide credit to households and firms. In December, the Fed successfully auctioned $40 billion through this facility. And, as part of a coordinated operation, the European Central Bank and the Swiss National Bank lent an additional $24 billion to banks in their respective jurisdictions. This month, the Federal Reserve is auctioning $60 billion in twenty-eight-day credit through the TAF, to be spread across two auctions. TAF auctions will continue as long as necessary to address elevated pressures in short-term funding markets, and we will continue to work closely and cooperatively with other central banks to address market strains that could hamper the achievement of our broader economic objectives.

Although the TAF and other liquidity-related actions appear to have had some positive effects, such measures alone cannot fully address fundamental concerns about credit quality and valuation, nor do these actions relax the balance sheet constraints on financial institutions. Hence, they alone cannot eliminate the financial restraints affecting the broader economy. Monetary policy (that is, the management of the short-term interest rate) is the Fed's best tool for pursuing our macroeconomic objectives, namely to promote maximum sustainable employment and price stability.

Monetary policy has responded proactively to evolving conditions. As you know, the Federal Open Market Committee (FOMC) cut its target for the federal funds rate by 50 basis points at its September meeting and by 25 basis points each at the October and December meetings. In total, therefore, we have brought the federal funds rate down by 1 percentage point from its level just before the financial strains emerged. The Federal Reserve took these actions to help offset the restraint imposed by the tightening of credit conditions and the weakening of the housing market. However, in light of recent changes in the outlook for and the risks to growth, additional policy easing may well be necessary. The FOMC will, of course, be carefully evaluating incoming information bearing on the economic outlook. Based on that evaluation, and consistent with our dual mandate, we stand ready to take substantive additional action as needed to support growth and to provide adequate insurance against downside risks.

Financial and economic conditions can change quickly. Consequently, the FOMC must remain exceptionally alert and flexible, prepared to act in a decisive and timely manner and, in particular, to counter any adverse dynamics that might threaten economic or financial stability.

A number of analysts have raised the possibility that fiscal policy actions might usefully complement monetary policy in supporting economic growth over the next year or so. I agree that fiscal action could be helpful in principle, as fiscal and monetary stimulus together may provide broader support for the economy than monetary policy actions alone. But the design and implementation of the fiscal program are critically important. A fiscal initiative at this juncture could prove quite counterproductive, if (for example) it provided economic stimulus at the wrong time or compromised fiscal discipline in the longer term.

To be useful, a fiscal stimulus package should be implemented quickly and structured so that its effects on aggregate spending are felt as much as possible within the next twelve months or so. Stimulus that comes too late will not help support economic activity in the near term, and it could be actively destabilizing if it comes at a time when growth is already improving. Thus, fiscal measures that involve long lead times or result in additional economic activity only over a protracted period, whatever their intrinsic merits might be, will not provide stimulus when it is most needed. Any fiscal package should also be efficient, in the sense of maximizing the amount of near-term stimulus per dollar of increased federal expenditure or lost revenue. Finally, any program should be explicitly temporary, both to avoid unwanted stimulus beyond the near-term horizon and, importantly, to preclude an increase in the federal government's structural budget deficit. As I have discussed on other occasions, the nation faces daunting long-run budget challenges associated with an aging population, rising health-care costs, and other factors. A fiscal program that increased the structural budget deficit would only make confronting those challenges more difficult.

Thank you. I would be pleased to take your questions.

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Martin Luther King, Jr., Federal Holiday, 2008

A Proclamation by the President of the United States of America African American History Dr. Martin Luther King, Jr., changed our Nation forever through his leadership, service, and clarity of vision. On the Martin Luther King, Jr., Federal Holiday, we honor the lasting legacy of this great American, remember the ideals for which he fought, and recommit ourselves to ensuring that our country's promise extends to all Americans across this great land.

In the brief time Dr. King walked upon this earth, he devoted his life to strengthening the content of the American character and called on our Nation to live up to its founding principles of life, liberty, and the pursuit of happiness for all its citizens. Dr. King's faith in the Almighty gave him the courage to confront discrimination and segregation, and he preached that all the powers of evil are ultimately no match for even one individual armed with eternal truths. Through his determination, spirit, and resolve, Dr. King helped lift souls and lead one of the greatest movements for equality and freedom in history.

Our Nation has made progress toward realizing Dr. King's dream, yet the work to achieve liberty and justice for all is never-ending. In July of 2006, I was honored to sign the "Fannie Lou Hamer, Rosa Parks, and Coretta Scott King Voting Rights Act Reauthorization and Amendments Act of 2006," to renew the Voting Rights Act of 1965 and reaffirm our commitment to securing the voting rights of all Americans. My Administration will continue to protect the rights won through the sacrifice of Dr. King and other civil rights leaders, and our country will never rest until equality is real, opportunity is universal, and all citizens are empowered to realize their dreams.

As we observe Dr. King's birthday, I encourage all Americans to celebrate his memory by performing acts of kindness through service to others. Let us live out Dr. King's teachings as we continue to work for the day when the dignity and humanity of every person is respected.

NOW, THEREFORE, I, GEORGE W. BUSH, President of the United States of America, by virtue of the authority vested in me by the Constitution and laws of the United States, do hereby proclaim January 21, 2008, as the Martin Luther King, Jr., Federal Holiday. I encourage all Americans to observe this day with appropriate civic, community, and service programs and activities in honor of Dr. King's life and legacy.

IN WITNESS WHEREOF, I have hereunto set my hand this sixteenth day of January, in the year of our Lord two thousand eight, and of the Independence of the United States of America the two hundred and thirty-second.

GEORGE W. BUSH # # # For Immediate Release Office of the Press Secretary January 16, 2008

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John McCain TV Ad: "Michigan Endorsed" VIDEO

From John McCain 2008 - John McCain for President :30 Television "Michigan Endorsed"

Transcript:

ANCCR: After taking a close look The Detroit News and The Free Press both endorse John McCain for President.

B roll: McCain off the bus

Here's what their saying:

McCain puts the country first.

CG:"McCain puts the country first"

He's a straight shooter.

CG: "A straight shooter"

A conservative who has worked across the aisle.

CG: "A conservative who has worked across the aisle"

Broad appeal to the middle of the electorate.

CG: "Broad appeal"

Steadiness.

CG: "Steadiness"

Consistency.

CG: "Consistency"

Leading critic of congressional earmarks to fun pork barrel projects.

CG: "Leading critic of pork barrel projects"

He would stand strong against tyrants.

CG: "Stand strong"

Best qualified to lead the nation.

CG: "Best qualified"

Michigan newspapers agree

CG: "The choice is clear"

For President, John McCain.

Head shot of McCain and disclaimer

JSM: I'm John McCain and I approve this message.

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Mike Huckabee TV Ad "Understanding" VIDEO

From Mike Huckabee for President: Little Rock, AR - The Huckabee for President Campaign launched a new television ad in Michigan today, underscoring the former Arkansas governor's commitment to Republican voters in the "Wolverine State."

Fresh off of a major victory in the Iowa Caucuses and a strong showing in New Hampshire, the Huckabee campaign has its sights on the January 15 GOP Michigan Primary.

"We're looking forward to competing in Michigan," said Campaign Manager Chip Saltsman. "Americans want a president who understands their dreams and aspirations, as well as their daily challenges. They want a president from Main Street, not Wall Street. Governor Huckabee is that candidate."

The new 30-second ad, called "Understanding," highlights Huckabee's Main Street message, his vision for America, and his understanding of the struggles of average American families.

The ad also references Huckabee's pro-growth economic record as governor of Arkansas which includes fostering an increase of 121,686 Arkansans employed during his tenure. Under Governor Huckabee, Arkansas hit the lowest unemployment mark (4.1%) in state history and had the lowest average unemployment rate in the past 30 years.

"All across America, citizens are looking for a President who has a vision for ensuring America's greatest days are yet to come. As President, I will fight to protect the American Dream, promote prosperity, and preserve our core values," said Governor Mike Huckabee in the ad.

"As President, I will also bring the understanding of Main Street to the White House and bring about change for the better all across America just as I did in Arkansas," he said.

Transcript of "Understanding" -- :30 TV

MH ON CAMERA:
"When you grow up and life's a struggle, you have a whole different understanding of what most people are going through."

MH VOICE OVER FOOTAGE:
"We're losing manufacturing jobs, homeowners face a credit crisis, high fuel costs are spiraling, and families are hurting. I cut taxes, built highways, reformed health care and education, and achieved record job growth. I'm Mike Huckabee and I approved this message because I believe most Americans want their next president to remind them of the guy they work with, not the guy who laid them off.

Technorati Tags: Mike Huckabee or State Department Daily Press Briefing, 01/14/08 VIDEO, PODCAST, TEXT and Lewis Howard Latimer and Model is first to compare performance of 'biosensors'

Mitt Romney New Campaign Ad "Pride Of America" VIDEO

From Romney For President - FOR IMMEDIATE RELEASE CONTACT: Kevin Madden (857) 288-6390 Boston, MA – Today, Romney for President launched its newest television ad, "Pride of America." The ad features Governor Romney discussing the need to change Washington and invest in unleashing the power of Michigan. Governor Romney grew up in Michigan and knows Michigan's potential. For him, Michigan is personal, and he will work to end the state's one-state recession. Governor Romney is asking the people of Michigan to vote for building a better future for their state and our nation.

The ad will begin airing as part of the campaign's rotation tomorrow in Michigan. Script and viewing link are below.

Transcript For "Pride Of America" (TV:30):

GOVERNOR MITT ROMNEY: "I grew up in Michigan when Michigan was the pride of America.

"It breaks my heart to see us in a one-state recession.

"We can change that.

"We need new leaders with the experience and energy to turn us around.

"Let's invest in the future with new technology and innovation and unleash the power of Michigan.

"I'll work everyday to change Washington and bring us back, because Michigan is personal to me.

"I'm Mitt Romney and I approve this message and ask for your vote."

Technorati Tags: Mitt Romney or State Department Daily Press Briefing, 01/14/08 VIDEO, PODCAST, TEXT and Lewis Howard Latimer and Model is first to compare performance of 'biosensors'