As Wall Street goes so goes the nation - as soon as you and Obama relaize that things might start getting better.
Fact-Checking Obama's Speech
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The Chevy Volt, if it comes to market as scheduled in 2010, would be the first American-made, plug-in hybrid car, and General Motors recently announced that the Volt will use battery systems from South Korea's LG Chem Ltd.
But the U.S. isn't a complete laggard in this department. Ford said earlier this month that batteries for its hybrid, due to be available in 2012, will be supplied by a joint venture between a U.S. company, Johnson Controls Inc., and France's Saft. At least initially, though, the battery cells will be made in France; they will be assembled into power packs in the U.S.
Things He Got Right
Some other claims that made our ears perk up actually checked out OK.
T.R. and health insurance: Speaking of health coverage, Obama said "Teddy Roosevelt first called for reform." Actually, Harry Truman was the first sitting president to call for national health insurance, in 1948. But Theodore Roosevelt, as a Progressive party candidate in 1912, did run (and lose) on a platform that included "a system of social insurance."
Cold War Weapons: Obama also criticized "Cold War weapons we don't use." That's a reference to the F-22 Raptor, a high-tech fighter plane that has been operational since 2005. It costs about $140 million per plane and has never been used in combat.
Update, Feb. 25: After we posted this article, we nailed down another item:
Obama exaggerated a bit in describing the Children's Health Insurance Program that was recently reauthorized by Congress:
Obama: When it was days old, this Congress passed a law to provide and protect health insurance for 11 million American children whose parents work full time.
The 11 million figure is correct; it's the "work full time" phrase that caught our attention. It's true that CHIP (formerly known as SCHIP) is designed for children in families that earn too much to qualify for health care under Medicaid but not enough to buy insurance on their own. But there is no stipulation that parents must work "full time." Mary Kahn, spokeswoman at the Centers for Medicaid & Medicare Services, told us: "The CHIP program is targeted primarily to children of low-income working families. But there is no requirement that the families be working full time or part time, simply that their income meet that particular state's requirement." State eligibility rules differ, but generally they target families making under about 200 percent of the federal poverty level, which is $44,100 this year for a family of four.
Sources
U.S. Energy Information Administration. Weekly U.S. Total Crude Oil and Petroleum Products Imports, accessed 25 Feb. 2009.
U.S. Energy Information Administration. Annual U.S. Crude Oil and Petroleum Products Imports from All Countries, accessed 25 Feb. 2009.
Woodward, Calvin and Jim Kuhnhenn. "Fact Check: Obama's words on home aid ring hollow." Associated Press, 25 Feb. 2009.
"FDIC Head Sees Wide Benefit From Foreclosure Plan." National Public Radio, 19 Feb. 2009.
"Everyday Mysteries." The Library of Congress, accessed 25 Feb. 2009.
Kaplan, Fred. "The Air Force Tries to Save a Fighter Plan that's Never Seen Combat." 24 Feb. 2009. Slate. 25 February 2009.
DiMascio, Jen. "Gates: F-22 Production Increase Could Hurt More Affordable JSF." 7 Feb. 2008. Defense Daily. 25 February 2009.
U.S. Courts. "Bankruptcy Filings Near Million Mark for 12-Month Period Ending June 30, 2008," 27 Aug. 2008.
Naughton, Keith. "Ford Chooses Johnson Controls-Saft for Plug-in Hybrid Battery." Bloomberg News, 3 Feb. 2009.
Krishner, Tom. "GM picks S. Korea's LG Chem to make Volt batteries." The Associated Press, 12 Jan. 2009.
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