Daily News Roundup
Posted by vriz on 04/29/2009
It’s finally here! Today marks President Obama’s 100th day in office. No matter what the administration advisors privately think about this bench-mark of presidential performance, the President himself will acknowledge it with a prime-time news conference in St. Louis today. Franklin Delano Roosevelt set the bar high for all his successors in office, by accomplishing a vast amount of in his first 3 ½ months in office while the nation was struggling in the depths of the Great Depression. So much so, that many of the men who followed in his footsteps have balked at the idea of being measured by the same yardstick. The reviews of President Obama’s performance will, of course, range from positive to negative. However, few would argue that his actions are not ambitious and that he doesn’t have an appetite for bold enterprises. The GDP numbers for the first quarter of this year were not great: the U.S. economy contracted at the rate of 6.1% according to official preliminary estimates. In the last quarter of 2008 GDP fell at a 6.3% annualized rate. Still, the Federal Reserve issued a statement today that the economy is showing signs of stabilization and signaled that there would be no change in existing Federal interest rate policy or the amounts of money that Fed will continue to inject into the economy. President Obama’s top economic advisor and a former Federal Reserve Chairman, Paul Volcker said that the rate of the decline in the economic activity in the first quarter was “expected.” He also said that right now the economy is only functioning “by the grace of government intervention.” National Academy of Sciences assembled a panel to conduct a three-year study to examine the potential implications of computer systems being used as weapons against the U.S. The panel released the report today, concluding that the U.S. lacks clear military response policy to a potential cyberattack on the country’s communications, financial or power networks. This is not exactly encouraging news, considering new attempts on U.S. networks are perpetrated by freelance computer criminals and foreign governments regularly.
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