August 4, 2011'I know you've got my back': Obama goes home to celebrate 50th... but party turns out to be just another campaign fundraiser
He’s a busy man with lots going on right now, so it’s no surprise he couldn’t relax and enjoy his party.
President Barack Obama turned his 50th birthday into a 2012 campaign fundraising bonanza, buoyed by a hometown crowd after a ‘frustrating’ period locked in a debt battle with Republicans.
He received a warm welcome from a crowd of 2,400 who heard performances from Jennifer Hudson and Herbie Hancock, at a time when his job approval rating is near the lowest of his presidency
Mr Obama made clear in remarks to a big audience at a music auditorium and to supporters across the country that he is focussing on spurring job growth now that the debt debate is behind him.
The debt battle ended on Tuesday when Mr Obama signed compromise legislation reached after painstaking negotiations that barely averted a government default.
‘This last week was a frustrating week,’ Mr Obama, who turns 50 on Thursday, said.
He used the conflict over debts and deficits to tell his supporters that Democrats and Republicans have deep divisions over economic policy and stressed the importance of the 2012 election.
In the just-ended debt dispute, Obama agreed to $2.1 trillion in spending cuts over a decade but Republicans refused his demand that tax increases be included in the package.
He tried to defend his economic record, saying he inherited severe challenges from Republican President George W. Bush, including an economy that was worse than he and his aides realised.
The U.S. is suffering under a 9.2 per cent jobless rate, economic growth has slowed to a crawl and the debt crisis that brought them close to default has also cut huge value from the stock market.
We know we've still got a lot of work to do on the economy,’ Mr Obama said.
‘I hope we can avoid another self-inflicted wound like we've seen over the last couple of weeks, because we don't have time to play these partisan games.’
‘It doesn't matter how tough it gets in Washington because I know you've got my back. I know we will bring about the change that all of us believe in. We're in for a long battle.’
A group of Latino activists protested Mr Obama's record on immigration outside, chanting: 'Yes you can, no deportation!' and 'Hey, hey, Obama, don’t deport my mama!', reported the Washington Post.
There had been speculation for days as to whether the President was going to make it to his own fundraising 50th birthday party - a plush affair at a $40,000 a night ballroom in Chicago
But with the President signing off the debt deal yesterday after the bill went through the Senate at the last minute, the party was back on, despite fears the deal will not stave off a credit rating disaster.
As an official downgrade of the country's crucial AAA rating inches closer, the leading Chinese credit agency announced a slide from A+ to A, citing doubts over Washington's ability to pay off its debts.
Meanwhile, yesterday's debt deal triggered gloom in Wall Street where the stock market is on its longest losing streak since the financial meltdown of 2008.
The Dow Jones yesterday had its worst day in more than two months, and closed below 12,000 for the first time since June 24.
It seems, however, that the small matter of a multi-trillion dollar debt crisis was not going to stop the President pulling out all the stops.
read more and view pictures of celebration @ http://www.dailymail.co.uk/news/article-2021286/US-debt-ceiling-deal-President-Obama-celebrates-Jennifer-Hudson-50th-birthday.html#ixzz1U037maXT
