@ The White House
In the morning, the President will travel to Richmond, Virginia. The departure from the South Lawn and arrival at Richmond International Airport are open press.
Later in the morning, the President will deliver remarks at the University of Richmond on the bipartisan proposals to grow the economy and create jobs as part of the American Jobs Act. These remarks are open press.
In the afternoon, the President will return to Washington, DC. The departure from Richmond International Airport and the arrival on the South Lawn are open press.
Later in the afternoon, the President will participate in an Ambassador Credentialing Ceremony in the Oval Office. At this event, the President will receive the credentials from foreign Ambassadors recently posted in Washington. The presentation of credentials is a traditional ceremony that marks the formal beginning of an Ambassador?s service in Washington.
@ Wall Street
President Obama proposed a $447 billion plan to revive the U.S. economy, which includes cutting payroll taxes for employees and businesses, spending billions to fix the nation's roads and bridges and extending and revamping unemployment benefits.
Robert Ryan, a foreign exchange strategist at BNP Paribas in Singapore, said the new net tax cuts pledged by Obama would total less than $100 billion, even if Congress agrees to the plan, less than 1.0% of U.S. gross domestic product, and may be too small to have any strongly positive effect.
