Geithner: Unemployment Will ‘Stay Unacceptably High For A Very Long Time’
In an appearance on the Today show, Treasury Secretary Tim Geithner said that unemployment is “still terribly high and is going to stay unacceptably high for a very long time,” as a result of the damage caused by the recession. “Just because this was the worst economic crisis since the Great Depression,” Geithner said, “a huge amount of damage was done to businesses and families across the country … and it’s going to take us a long time to heal that damage.”
Obama’s Day Roundup
President Obama will receive his daily briefing at 9:30 a.m. ET. He will depart from Andrews Air Force Base at 1:20 p.m. ET, arriving in Portsmouth, New Hampshire, at 2:35 p.m. ET. He will then arrive in Portland, Maine, at 3:05 p.m. ET. He will deliver remarks on health insurance reform at 3:25 p.m. ET. He will depart from Portsmouth at 4:55 p.m. ET, arriving at 5:40 p.m. ET in Boston, Massachusetts. He will deliver remarks at a DNC fundraising reception at 6:05 p.m. ET, and at a DNC fundraiser at 8:05 p.m. ET. He will depart from Boston at 8:45 p.m. ET, arriving back at Andrews Air Force Base at 10:05 p.m. ET.
Biden’s Day Ahead
Vice President Biden will travel in the morning to New York City. He does not have any public events scheduled. He will return to Washington in the afternoon, and meet with senior advisers.
WaPo: Hildebrand Goes Rogue
The Washington Post profiles former Obama campaign strategist Steve Hildebrand, who has become a critic of the White House and Congressional Democrats from the left. Hildebrand also bluntly discusses his struggles with depression: “As Hildebrand shuttles his dog, Cooper, around town, he speaks openly, and at times painfully, about his low moments: The months spent staring blankly at computer screens during the 2008 primary battle, his cycle of resignation and rehiring from the campaign, his caustic e-mails to Hillary Clinton staffers, his unshakable torpor during the general election. Since Obama took office, Hildebrand thinks he has snapped out of it; with his newfound energy, he expresses ‘disdain for the officials in my own party’ and acts as ‘a progressive voice from the outside.'”
Deadlock Ending On Labor Board
The New York Times reports that President Obama’s recess appointments of Craig Becker and Mark Pearce to the National Labor Relations Board will end a deadlock on the previously under-filled board. “There’s now a full complement of Democrats on the board so they can start doing something,” said Samuel Estreicher, a labor law professor at New York University. “I think you’re going to see a more activist N.L.R.B.”
Both Parties Plot Jobless Benefits Strategies
Roll Call reports that both parties are working to spin the expiration of unemployment benefits against the other party. Democrats will blame Republicans for blocking passage of an extension, while Republican will blame Democrats for not agreeing to compromise to pay for the extension, and for recessing Congress without having passed a bill.
U.S.: China Ready For Iran Sanctions Talks
The United States has announced that China is coming to the negotiating table on the issue of sanctions against Iran over its nuclear program. “China has agreed to sit down and begin serious negotiations here in New York,” said U.S. Ambassador to the United Nations Susan Rice, appearing on CNN. Rice also added: “This is progress, but the negotiations have yet to begin in earnest.”
