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Your Private-Sector Engagement Update

Friday, November 22, 2013  
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This week was another busy one at the White House.The President traveled to Cleveland, Ohio to tour the ArcelorMittal steel factory and talk about our ongoing economic recovery.He also met with executives from the health insurance industry to discuss new steps announced to help American’s receiving insurance cancellation notices as part of our ongoing collaboration with industry to effectively implement the Affordable Care Act.

In other news, Senior Advisor to the President, Valerie Jarrett participated in a session at DealBook’s day-long Conference in New York City, to discuss with business leaders and leading reporters the economy and the Administration’s ongoing efforts to ensure that all Americans have the necessary skills they need to compete in the 21st century economy. Secretary Pritzker announced her priorities for the Department of Commerce in a speech at a DC-area business incubator. Finally, new indicators released last week show the continued progress of our economic recovery.

As always, contact us with any questions or concerns at

The White House Business Team

Ari, Marisa, and Sam

The President Discusses the Affordable Care Act with Insurance Industry Leaders

On Friday, President Obama and senior administration officials met with CEOs from across the health insurance industry to discuss ways to work together to help people enroll through the new Marketplaces as well as efforts to minimize disruption for consumers as they transition to new coverage.The President said that the administration and insurers share the same goal: getting more Americans covered.

The discussion was productive - the insurance CEOs and administration officials discussed the next steps in working with states and state insurance commissioners to use the new flexibility the administration announced to address cancellation notices going to consumers. Meeting participants stressed the importance of working together to minimize disruption for consumers as well as the need to continue to reach consumers with clear information about their options and choices.

Read more about the President’s plan regarding insurance cancellations here.

President Barack Obama holds an Affordable Care Act meeting with health insurance company CEOs in the Roosevelt Room of the White House, Nov. 15, 2013

President Barack Obama holds an Affordable Care Act meeting with health insurance company CEOs in the Roosevelt Room of the White House, Nov. 15, 2013. (Official White House Photo by Pete Souza)

President Obama’s Visit to the Arcelor Mittal Steel Factory in Cleveland, Ohio

On Thursday, President Obama spoke at ArcelorMittal’s steel factoryin Cleveland, Ohio.ArcelorMittal is the largest supplier of steel to the U.S. auto manufacturing sector.But just a few years ago, President Obama said the economy was in free fall and the auto industry was on the brink of collapse. Demand for steel had dried up. Nearly 1,200 steelworkers were furloughed from the factory.Shortly after taking office, President Obama stepped in to give the auto industry the temporary help it needed to start growing again.

"We rolled up our sleeves, we made some tough choices,” he said."We rescued and retooled the American auto industry; it saved more than a million jobs.”

Today, ArcelorMittal’s Cleveland plant is a global leader in producing the advanced high-strength steel that automakers are demanding for newer, more fuel efficient cars and trucks.

To read the President’s full remarks, click here.

President Barack Obama delivers remarks at Arcelormittal Steel factory in Cleveland, Ohio, Nov. 14, 2013.

President Barack Obama delivers remarks at Arcelormittal Steel factory in Cleveland, Ohio, Nov. 14, 2013. (Official White House Photo by Lawrence Jackson)

Senior Advisor Valerie Jarrett Talks Business at the DealBook Conference

On Tuesday, Senior Advisor Valerie Jarrett participated in the New York Time’s DealBook conference in New York.In her conversation with David Leonhardt, Washington bureau chief for The New York Times, Ms. Jarrett pledged continuing transparency and communication with business leaders.Ms. Jarrett said the government has taken "enormous strides” in reaching out to business over the past five years, and "we still have work to do. But we’re going in the right direction.” Additionally, Ms. Jarrett spoke about the importance of skills and higher education in our economic recovery.She talked about strengthening the middle class and preparing our young people to compete in the global economy.

Valerie Jarrett DealBook

Senior Advisor to the President Valerie Jarrett participates in the New York Time's DealBook conference in New York. (Photo by Jesse Moore)

Secretary of Commerce Penny Pritzker Outlines a Bold Set of Goals for the Department

Also on Thursday, Secretary of Commerce Penny Pritzker outlined a bold new policy agenda for the Department centered on U.S. trade and investment, innovation, and data.She delivered the speech at 1776, a technology incubator headquartered in Washington, DC that grew out of the President’s Startup America initiative.In her remarks, the Secretary announced a revitalized National Export Initiative, an enhanced and expanded program to attract foreign investment, a first-of-its-kind Commerce effort to ensure skills training programs meet industry needs. Her remarks also outlined the importance of building public-private partnerships that enable businesses and communities to make better use of government data.

To read more about Secretary Pritzker’s agenda setting speech, check out this story on

Secretary Pritzker reveals

Secretary Pritzker reveals "Open for Business,” a bold new policy agenda spearheaded by the Department of Commerce, at 1776. (Photo by US Department of Commerce)

This Weeks Key Points on the Economy

  • According to the Treasury Department’s monthly update, the budget deficit during the first month of this fiscal year is 23.7 percent less than the same period of fiscal year 2013.
  • Real gross domestic product rose at a solid 2.8 percent annual pace in the third quarter, the fastest quarterly pace in the last year, and the 10th consecutive quarter of growth.
  • The economy has now added private sector jobs for 44 consecutive months, and a total of 7.8 million jobs have added during that time.
  • U.S. exports set another record in 2012, reaching $2.2 trillion despite significant economic headwinds from abroad, and export growth has continued in 2013.
  • Over the longer term, CBO’s analysis of the President’s FY2014 budget found that the deficit would fall to just 2.1 percent of GDP by 2023 under the President’s policies.

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