Pres. Obama proposes limits on IRAs for the rich
NEW YORK (CNNMoney) -- President Obama on Wednesday announced a plan that would prohibit individuals from reaping tax advantages on IRAs and other tax-preferred retirement accounts when funds exceed $3 million.By proposing the cap as part of his 2014 budget, Obama is taking aim at those who stash many millions of dollars in tax-advantaged retirement accounts -- which it argues is more than enough to retire comfortably.A $3 million balance in a tax-preferred account like an IRA would currently allow a saver to finance an annuity of $205,000 per year in retirement.
NEW YORK (CNNMoney) -- President Obama on Wednesday announced a plan that would prohibit individuals from reaping tax advantages on IRAs and other tax-preferred retirement accounts when funds exceed $3 million.By proposing the cap as part of his 2014 budget, Obama is taking aim at those who stash many millions of dollars in tax-advantaged retirement accounts -- which it argues is more than enough to retire comfortably.A $3 million balance in a tax-preferred account like an IRA would currently allow a saver to finance an annuity of $205,000 per year in retirement.
U.S. believes North Korea could test fire missiles at any time
(CNN) -- The Obama administration calculates it's likely North Korea may test fire mobile ballistic missiles at any time, based on the most recent intelligence showing Pyongyang probably has completed launch preparations, a U.S. official said Tuesday.The administration believes a test launch could happen without North Korea issuing a standard notice to commercial aviation and maritime shipping warning them to stay away from the missile's path, according to the official, who declined to be named because of the sensitivity of the information.He cautioned most of the information comes from satellite imagery, so it's impossible to reach a definitive conclusion because the United States has no means to gather information on the ground."We hope they issue a notification, but at this point we don't expect it.
(CNN) -- The Obama administration calculates it's likely North Korea may test fire mobile ballistic missiles at any time, based on the most recent intelligence showing Pyongyang probably has completed launch preparations, a U.S. official said Tuesday.The administration believes a test launch could happen without North Korea issuing a standard notice to commercial aviation and maritime shipping warning them to stay away from the missile's path, according to the official, who declined to be named because of the sensitivity of the information.He cautioned most of the information comes from satellite imagery, so it's impossible to reach a definitive conclusion because the United States has no means to gather information on the ground."We hope they issue a notification, but at this point we don't expect it.
Obama scolds lawmakers for reticence in passing gun control
(CNN) -- President Barack Obama angrily chided lawmakers reluctant to back gun control legislation on Monday, saying the overwhelming support for measures like universal background checks among the American people should force action in Congress.The president was speaking in Hartford, not far from the site of the massacre in Connecticut that left 20 children and six adults dead at Sandy Hook Elementary School in Newtown.Obama's calls for tighter gun control laws began in the aftermath of that shooting, though measures he proposed appear to be stalled in Congress.His message on Monday was crafted as much for lawmakers as it was for the Newtown victims' families, who sat behind him on stage and who will travel to Washington with him on Air Force One to further lobby members of Congress on passing new gun laws."Newtown, we want you to know that we're here with you," Obama said. "We will not walk away from the promises we've made.
(CNN) -- President Barack Obama angrily chided lawmakers reluctant to back gun control legislation on Monday, saying the overwhelming support for measures like universal background checks among the American people should force action in Congress.The president was speaking in Hartford, not far from the site of the massacre in Connecticut that left 20 children and six adults dead at Sandy Hook Elementary School in Newtown.Obama's calls for tighter gun control laws began in the aftermath of that shooting, though measures he proposed appear to be stalled in Congress.His message on Monday was crafted as much for lawmakers as it was for the Newtown victims' families, who sat behind him on stage and who will travel to Washington with him on Air Force One to further lobby members of Congress on passing new gun laws."Newtown, we want you to know that we're here with you," Obama said. "We will not walk away from the promises we've made.
Obama to make case for gun control in speech near Newtown
(CNN) -- President Barack Obama is poised to make another impassioned pitch for gun control Monday as he travels to Hartford, Connecticut, not far from the site of the massacre that left 20 children and six adults dead at Sandy Hook Elementary School in Newtown.His comments come as the Senate is expected to begin debate as early as this week over proposed firearm legislation."On the eve of Senate consideration of gun safety proposals the President will speak, as he did at the State of the Union, about the obligations the nation has to children lost in Newtown and other victims of gun violence to act on these proposals," a White House official said.Obama will speak in the early evening at the University of Hartford's sport center.
(CNN) -- President Barack Obama is poised to make another impassioned pitch for gun control Monday as he travels to Hartford, Connecticut, not far from the site of the massacre that left 20 children and six adults dead at Sandy Hook Elementary School in Newtown.His comments come as the Senate is expected to begin debate as early as this week over proposed firearm legislation."On the eve of Senate consideration of gun safety proposals the President will speak, as he did at the State of the Union, about the obligations the nation has to children lost in Newtown and other victims of gun violence to act on these proposals," a White House official said.Obama will speak in the early evening at the University of Hartford's sport center.
Federal judge in New York overturns Plan B decision
NEW YORK (WITI) -- A federal judge in New York overturned an Obama administration directive on the morning-after pill.
NEW YORK (WITI) -- A federal judge in New York overturned an Obama administration directive on the morning-after pill.
Obama apologizes for quip, which some called sexist
(CNN) -- California's attorney general received an apology call from President Barack Obama Thursday after he told a crowd of Democratic donors she was "by far the best looking attorney general.""The president did speak with Attorney General Harris last night after he came back from his trip," White House Press Secretary Jay Carney told CNN's Brianna Keilar at Friday's briefing. "He called her to apologize for the distraction created by his comments."The remark came during a fundraiser for the Democratic National Committee in the Bay Area.
(CNN) -- California's attorney general received an apology call from President Barack Obama Thursday after he told a crowd of Democratic donors she was "by far the best looking attorney general.""The president did speak with Attorney General Harris last night after he came back from his trip," White House Press Secretary Jay Carney told CNN's Brianna Keilar at Friday's briefing. "He called her to apologize for the distraction created by his comments."The remark came during a fundraiser for the Democratic National Committee in the Bay Area.
Obama to propose changes to Medicare, Social Security
(CNN) -- President Barack Obama's upcoming budget will include proposed changes to Social Security and Medicare plus some new tax increases, changes that are an effort for the president to reach a deficit deal with Republicans, according to senior administration officials.The budget will include an offer Obama made to House Speaker John Boehner in December, officials said.
(CNN) -- President Barack Obama's upcoming budget will include proposed changes to Social Security and Medicare plus some new tax increases, changes that are an effort for the president to reach a deficit deal with Republicans, according to senior administration officials.The budget will include an offer Obama made to House Speaker John Boehner in December, officials said.
Obama to give back 5% of his salary to U.S. Treasury
(CNN) -- President Barack Obama will put 5% of his paycheck back into the federal government's coffers in a show of unity with furloughed federal workers, a senior administration official said Wednesday.Obama, whose $400,000 annual salary is set in law and can't officially be changed, will write a check made out to the U.S. treasury every month beginning in April.
(CNN) -- President Barack Obama will put 5% of his paycheck back into the federal government's coffers in a show of unity with furloughed federal workers, a senior administration official said Wednesday.Obama, whose $400,000 annual salary is set in law and can't officially be changed, will write a check made out to the U.S. treasury every month beginning in April.
Obama announces $100M to unlock mysteries of the brain
WASHINGTON (CNN) -- President Barack Obama on Tuesday unveiled a $100 million initiative to unlock the "enormous mystery" of the human brain in hopes of boosting the understanding and treatment of brain disorders."What if computers could respond to our thoughts?
WASHINGTON (CNN) -- President Barack Obama on Tuesday unveiled a $100 million initiative to unlock the "enormous mystery" of the human brain in hopes of boosting the understanding and treatment of brain disorders."What if computers could respond to our thoughts?
Large Exxon oil spill in Arkansas draws attention to Keystone XL
MAYFLOWER, ARKANSAS (CNN) -- Heavy crude oil is flowing like a river through a central Arkansas neighborhood.People living in the area have been evacuated and it could be several days before crews have the mess cleaned up.While the cause of the breach is unknown, it's raising questions about whether the White House should move forward with a new pipeline.Crude oil, spewed out of the Exxon Mobile pipeline has coiled its way through a suburban neighborhood in Mayflower, Arkansas -- some of it ending up at a nearby creek.
MAYFLOWER, ARKANSAS (CNN) -- Heavy crude oil is flowing like a river through a central Arkansas neighborhood.People living in the area have been evacuated and it could be several days before crews have the mess cleaned up.While the cause of the breach is unknown, it's raising questions about whether the White House should move forward with a new pipeline.Crude oil, spewed out of the Exxon Mobile pipeline has coiled its way through a suburban neighborhood in Mayflower, Arkansas -- some of it ending up at a nearby creek.
First family hosts 135th Easter Egg Roll at White House
(CNN) -- With viral-video star "Kid President," American Idol's Jessica Sanchez, and the Easter Bunny at their side, the first family kicked off the 135th Easter Egg Roll at the White House Monday."It's great to have everyone here this morning.
(CNN) -- With viral-video star "Kid President," American Idol's Jessica Sanchez, and the Easter Bunny at their side, the first family kicked off the 135th Easter Egg Roll at the White House Monday."It's great to have everyone here this morning.
First family attends Easter Sunday services near White House
(CNN) -- President Barack Obama and his family attended a church service on Easter at St.
(CNN) -- President Barack Obama and his family attended a church service on Easter at St.
Obama forms commission on long lines to vote
(CNN) -- Taking steps to make good on a pledge from his State of the Union Address, President Obama signed an executive order Thursday that establishes a bipartisan panel to address long lines at polling stations and other voter irregularities."When any Americans - no matter where they live or what their party - are denied that right simply because they can't wait for five, six, seven hours just to cast their ballot, we are betraying our ideals," Obama said during the State of the Union. "We can fix this, and we will.
(CNN) -- Taking steps to make good on a pledge from his State of the Union Address, President Obama signed an executive order Thursday that establishes a bipartisan panel to address long lines at polling stations and other voter irregularities."When any Americans - no matter where they live or what their party - are denied that right simply because they can't wait for five, six, seven hours just to cast their ballot, we are betraying our ideals," Obama said during the State of the Union. "We can fix this, and we will.
U.S. Secretary of Labor talks minimum wage increase in Milwaukee
MILWAUKEE (WITI) -- The U.S. Secretary of Labor was in Milwaukee on Wednesday, March 27th, talking with the working poor about how they scrap by.
MILWAUKEE (WITI) -- The U.S. Secretary of Labor was in Milwaukee on Wednesday, March 27th, talking with the working poor about how they scrap by.
Pres. Obama to appoint first female director of Secret Service
WASHINGTON (CNN) -- President Obama will appoint Julia Pierson as the first female director of the Secret Service, a White House official told CNN on Tuesday.Pierson has been the chief of staff to the director since August 2008.
WASHINGTON (CNN) -- President Obama will appoint Julia Pierson as the first female director of the Secret Service, a White House official told CNN on Tuesday.Pierson has been the chief of staff to the director since August 2008.
President Obama wraps up Israel trip, now back in U.S.
PETRA, Jordan (CNN) -- U.S. President Barack Obama wrapped up his trip to the Middle East on Saturday with a walking tour of the ancient city of Petra in Jordan.The city's breathtaking architecture features buildings partly carved into stone cliffs and combines eastern culture with ancient Greek constructions.
PETRA, Jordan (CNN) -- U.S. President Barack Obama wrapped up his trip to the Middle East on Saturday with a walking tour of the ancient city of Petra in Jordan.The city's breathtaking architecture features buildings partly carved into stone cliffs and combines eastern culture with ancient Greek constructions.
Battle over Affordable Care Act continues on third anniversary
WASHINGTON (CNN) -- Some see 2013 shaping up as 2012 all over again -- at least on the issue of health care.The dispute over President Barack Obama's signature health reform law, which he signed three years ago on Saturday, is back on.
WASHINGTON (CNN) -- Some see 2013 shaping up as 2012 all over again -- at least on the issue of health care.The dispute over President Barack Obama's signature health reform law, which he signed three years ago on Saturday, is back on.
Pres. Obama tours Petra before leaving for D.C.
PETRA, Jordan (CNN) -- U.S. President Barack Obama wrapped up his trip to the Middle East on Saturday with a walking tour of the ancient city of Petra in Jordan.The city's breathtaking architecture features buildings partly carved into stone cliffs and combines eastern culture with ancient Greek constructions.
PETRA, Jordan (CNN) -- U.S. President Barack Obama wrapped up his trip to the Middle East on Saturday with a walking tour of the ancient city of Petra in Jordan.The city's breathtaking architecture features buildings partly carved into stone cliffs and combines eastern culture with ancient Greek constructions.
Pres. Obama gets diplomatic coup before heading to Jordan
JERUSALEM (CNN) -- President Barack Obama arrived in Jordan on Friday after scoring a diplomatic coup just before leaving Israel when Prime Minister Benjamin Netanyahu phoned his Turkish counterpart to apologize for the Israeli commando raid in 2010 that killed eight Turks and an American of Turkish origin in a Gaza-bound flotilla.The apology, long sought by Turkish Prime Minister Recep Erdogan, could help restore normal relations between Turkey and Israel, two vital U.S. allies in the Middle East.Two senior U.S. administration officials told reporters traveling with Obama about the phone call, which occurred when the president and Netanyahu met at Ben Gurion International Airport in Tel Aviv minutes before Air Force One departed for Jordan.One of the officials said Erdogan accepted the apology, and a senior Turkish official confirmed to CNN that the apology from Netanyahu occurred and said the Israeli leader made an offer of compensation.Obama, who the U.S. officials said also took part in the phone call at one point, issued a statement that welcomed the development."The United States deeply values our close partnerships with both Turkey and Israel, and we attach great importance to the restoration of positive relations between them in order to advance regional peace and security," Obama's statement said. "I am hopeful that today's exchange between the two leaders will enable them to engage in deeper cooperation on this and a range of other challenges and opportunities."The last-minute diplomacy added a flourish to Obama's first foreign trip of his second term, which also was his first visit to Israel as president.While the two nations have a key strategic partnership, with the United States supplying military aid and diplomatic support as Israel's most vital ally, Obama and Netanyahu had famously frosty relations during the president's first term.With both beginning new terms after Obama's re-election last year and Netanyahu's recent formation of a new government, the U.S. president's visit this week was an opportunity to reset the relationship and signal unified positions on major issues such as the Middle East peace process and Iran's efforts to develop a nuclear weapon.Obama and Netanyahu met several times during the president's three days in Israel, which also included a state dinner where President Shimon Peres awarded him Israel's highest civilian honor.Before leaving Israel, Obama paid tribute to the father of modern Zionism in a symbolic visit to Theodor Herzl's grave.Joined by Peres, Netanyahu and U.S. Secretary of State John Kerry, Obama also visited the grave of former Prime Minister Yitzhak Rabin, who was assassinated in 1995.Both stops were intended to bolster Obama's standing with Israelis by demonstrating his understanding of the history of the Jewish state.Obama placed a stone at each grave from the grounds of the Martin Luther King Jr.
JERUSALEM (CNN) -- President Barack Obama arrived in Jordan on Friday after scoring a diplomatic coup just before leaving Israel when Prime Minister Benjamin Netanyahu phoned his Turkish counterpart to apologize for the Israeli commando raid in 2010 that killed eight Turks and an American of Turkish origin in a Gaza-bound flotilla.The apology, long sought by Turkish Prime Minister Recep Erdogan, could help restore normal relations between Turkey and Israel, two vital U.S. allies in the Middle East.Two senior U.S. administration officials told reporters traveling with Obama about the phone call, which occurred when the president and Netanyahu met at Ben Gurion International Airport in Tel Aviv minutes before Air Force One departed for Jordan.One of the officials said Erdogan accepted the apology, and a senior Turkish official confirmed to CNN that the apology from Netanyahu occurred and said the Israeli leader made an offer of compensation.Obama, who the U.S. officials said also took part in the phone call at one point, issued a statement that welcomed the development."The United States deeply values our close partnerships with both Turkey and Israel, and we attach great importance to the restoration of positive relations between them in order to advance regional peace and security," Obama's statement said. "I am hopeful that today's exchange between the two leaders will enable them to engage in deeper cooperation on this and a range of other challenges and opportunities."The last-minute diplomacy added a flourish to Obama's first foreign trip of his second term, which also was his first visit to Israel as president.While the two nations have a key strategic partnership, with the United States supplying military aid and diplomatic support as Israel's most vital ally, Obama and Netanyahu had famously frosty relations during the president's first term.With both beginning new terms after Obama's re-election last year and Netanyahu's recent formation of a new government, the U.S. president's visit this week was an opportunity to reset the relationship and signal unified positions on major issues such as the Middle East peace process and Iran's efforts to develop a nuclear weapon.Obama and Netanyahu met several times during the president's three days in Israel, which also included a state dinner where President Shimon Peres awarded him Israel's highest civilian honor.Before leaving Israel, Obama paid tribute to the father of modern Zionism in a symbolic visit to Theodor Herzl's grave.Joined by Peres, Netanyahu and U.S. Secretary of State John Kerry, Obama also visited the grave of former Prime Minister Yitzhak Rabin, who was assassinated in 1995.Both stops were intended to bolster Obama's standing with Israelis by demonstrating his understanding of the history of the Jewish state.Obama placed a stone at each grave from the grounds of the Martin Luther King Jr.
President Obama's final four revealed
(CNN) -- President Barack Obama spent Wednesday morning touring Israel's Iron Dome missile defense system, but back home his NCAA bracket was also making big news.The president chose Louisville, Indiana, Ohio State and Florida to reach this year's final four.
(CNN) -- President Barack Obama spent Wednesday morning touring Israel's Iron Dome missile defense system, but back home his NCAA bracket was also making big news.The president chose Louisville, Indiana, Ohio State and Florida to reach this year's final four.