Your Private-Sector Engagement Update
Friday, November 22, 2013
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
As always, contact us with any
questions or concerns at Business@who.eop.gov.
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
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. (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.
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 commerce.gov.
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
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.
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.
economy has now added private sector jobs for 44 consecutive months, and a
total of 7.8 million jobs have added during that time.
exports set another record in 2012, reaching $2.2 trillion despite
significant economic headwinds from abroad, and export growth has
continued in 2013.
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