Obama has been very publicly waging his popular War on Bank Bonuses (Remember that time Obama called bank bonuses “obscene” and everyone flipped out? And then he bashed huge bonuses as “the height of irresponsibility”.

And said bad things about bonuses last week in his SOTU.) And it seems to have worked, at least superficially. Investment banks are cutting back on bonuses—including Goldman, who are giving sweet mortgages to their employees in lieu of bonuses.

But now: Blankfein’s looking to net a cool $100 million for riding his vampire squid to record profits last year—way more than his previous record take of $67 million in 2007. And this after he snubbed Obama back in December due to dubious “inclement weather.”

Goldman’s strategy must be to give Blankfein enough money to build a subterranean Obama-proof bomb shelter, stock it with provisions and plasma screens, lock the big doors and emerge only when the world is again made safe for investment bankers (~2014).

On the surface it makes no sense. Why should political ideology affect humor when it doesn’t affect earnings potential or charity-giving or most anything else?

But there is no good right-slanted Onion, or Daily Show or Bill Maher and no right-wing satirist who can nail liberals like Stephen Colbert nails conservatives.

In 2007 Fox tried to launch a show to take on Comedy Central (despite Jon Stewart, in particular, sniping across political lines). The 1/2 Hour News Hour, marked by canned laughter, was described as “so heavy handed that it seems almost like self-parody,” and was quickly cancelled.

If the Teabuggers, whose idea of hilarity is at the ‘dress up funny’ level of high-school skits, are the cutting edge, the new generation, then prospects are not looking good for the future either.

Maybe it’s because absurdity and hypocrisy — staples of political humor — are far more prevalent on the right. If a family-values conservative gets caught with a wide-stance in an airport bathroom stall, or claims to be “hiking the Appalachian trail” when he’s in fact schtupping the Argentinian woman, that is amusing. When liberals cheat or lie it tends to be far more mundane.

Or it might be that comedy, like journalism, is best when it comforts the afflicted and afflicts the comfortable. It’s certainly partly built of empathy. ACORN, for all of its flaws, mainly works to give voice to the disenfranchised

Sure, you can trick them and sneakily edit your reporting and make them look silly, like O’Keefe did. But comforting the comfortable, and afflicting the afflicted just comes off as mean and nasty and smug. See: Dennis Miller and Ann Coulter.

Coulter and Miller were a sorority girl and and frat boy  — Delta Gamma and Sigma Tau Gamma respectively. Which stands in contrast to the depressed, substance-abusing end of society that spawns many funny people. Richard Pryor made jokes about his cock looking like a foot from all the STDs he’d caught, and about setting himself on fire while smoking crack. We fear he would not be at all Sigma Tau Gamma material.

O’Keefe, from all we know about him, is more their stuff. He has grown up in a wealthy bubble, in slacks and blazers from the cradle up. That bubble is almost a prerequisite of conservatism — it’s hard to be poor, or experience poverty, and still think poor people are just lazy.

That is not to say privilege is a bar to humor or empathy, but if the toughest experience you’ve had is Juanita ironing an inadequate crease into your golf pants even though you’ve told her about this before, you may struggle to wield the comedy of universal experience.

Even if they have done some dumb, amusing things with their lives, conservatives are not given to self-deprecation, another shortcut to laughs. If Rush Limbaugh joked about Oxycontin, or Bill O’Reilly made falafel gags in the same way Letterman referenced his cheating, they might be more likeable.

Perhaps in the end it’s just because, in the words of Stephen Colbert, “reality has a well-known liberal bias.” Reality is funny. The rest is just wearing silly costumes for Andrew Breitbart.

The president said that Republicans are eroding cooperation by telling constituents he is “doing all kinds of crazy stuff that’s going to destroy America.”

For their part, the Republicans pressed Obama on a series of issues ranging from the economy to health care, saying he and congressional Democrats had ignored their ideas.

Obama said he would listen seriously to some of the Republican proposals and insisted that others had, in fact, been incorporated into Democratic measures. But, he also pushed back on other GOP proposals, citing his reasons for opposing them.

Obama used the health care debate — which he described as “bitter and contentious” — to underline the difficulties in changing the “tone” of the debate in Washington.

“It’s not just on your side, by the way,” he said. “It’s on our side as well. This is part of what’s happened in our politics, where we demonize the other side so much that when it comes to actually getting things done, it becomes tough to do.”

Obama said that the “component parts” of the health care package were similar to those that were advocated last year by former Republican Senate Majority Leaders Howard Baker and Robert Dole, as well as onetime Democratic Majority Leader Tom Daschle, and “similar to what many Republicans proposed to Bill Clinton when he was doing his debate on health care.”

“You may not agree with Bob Dole and Howard Baker and Tom — and certainly you don’t agree with Tom Daschle on much — but that’s not a radical bunch,” Obama said. “But if you were to listen to the debate, and, frankly, how some of you went after this bill, you’d think that this thing was some Bolshevik plot.”

“If the way these issues are being presented by the Republicans is that this is some wild-eyed plot to impose huge government in every aspect of our lives, what happens is you guys then don’t have a lot of room to negotiate with me,” he said. “I mean, the fact of the matter is is that many of you, if you voted with the administration on something, are politically vulnerable in your own base, in your own party. You’ve given yourselves very little room to work in a bipartisan fashion because what you’ve been telling your constituents is, ‘This guy’s doing all kinds of crazy stuff that’s going to destroy America.’ ”

Georgia Rep. Tom Price countered by asking, “What should we tell our constituents who know that Republicans have offered positive solutions to the challenges that Americans face and yet continue to hear out of the administration that we’ve offered nothing?”

Obama said Republicans, on health care, needed to put on the table specific ideas that would work. “It can’t just be political assertions that aren’t substantiated when it comes to the actual details of policy, because otherwise we’re going to be selling the American people a bill of goods,” he said.

Rep. Mike Pence, chairman of the House Republican Conference, pressed Obama to commit to an across-the-board tax cut, a proposal which Obama met with skepticism: “If you’re calling for just across-the-board tax cuts and then, on the other hand, saying that we’re somehow going to balance our budget, I’m going to want to take a look at your math and see how that that works.”

Utah Rep. Jason Chaffetz called out Obama on his failure to make good on the promises of transparency in shaping the health care legislation. “You stood up before the American people multiple times and said you would broadcast the health care debates on C-SPAN, you didn’t,” Chaffetz said. “I was disappointed, and I think a lot of Americans were disappointed.”

Obama said the “overwhelmingly the majority of it actually was on C-SPAN, because it was taking place in congressional hearings,” but acknowledged the closed-door meetings after the committee process was finished and said, “I think it’s a legitimate criticism. So on that one, I take responsibility.”

But four in 10 Americans surveyed say they could vote for the Alaskan for president – with just 19 percent saying they would be “very likely” to vote for her should she run, and another 24 percent saying they’d be somewhat likely to do so.

The Gallup Poll’s Jeffrey Jones suggests that this offers Palin ” a decent reservoir of potential support to build upon. ”

At the same time, 41 percent of those surveyed this week in the wake of Palin’s surprise Fourth of July weekend resignation say they would be not at all likely to vote for her. And 13 percent say they’d be “not too likely” to vote for her.

As a benchmark on this question, consider what Gallup asked in 2005 about Hillary Clinton running for president: 52 percent of registered voters surveyed said they were at least somewhat likely to vote for her, including 28 percent who said they were very likely to do so.

“Predictably, most Democratic registered voters (70 percent) say they are not at all likely to vote for Palin,” Gallup reports. “While most Republican registered voters (72 percent say they are likely to vote for Palin, only about half of these (35 percent of all

Republican voters) can be considered solid supporters who say they are very likely to support Palin at this time.”

Should Palin shy away from a bid for the White House, Gallup’s Jones notes, “her high profile may allow her to take on a role as a major national political figure. When asked about her possibly having such a role, 39 percent of Americans say they would like to see her do this, including 67 percent of Republicans, 34 percent of independents, and 18 percent of Democrats.”

If Palin has positioned herself at odds with the national news media, a lot of people also think the governor has gotten poor treatment. The survey shows that 53 percent see the news media’s coverage of Palin as “unfairly negative,” while just 9 percent say it has been “unfairly positive” and 28 percent say “about right.”

The survey of 1,000 adults was conducted Monday and carries a possible margin of error of plus or minus 3 percent.

Obama called this time “a new moment of promise.”

He told an intimately personal tale of his own family, and how the history of colonialism should not blur the aspirations of modern nations, pointing to Ghana as one that embraced democracy early.

“I say this knowing full well the tragic past that has sometimes haunted this part of the world,” said, whose mother came from Kansas, his father from Kenya. “I have the blood of Africa within me, and my family’s own story encompasses both the tragedies and triumphs of the larger African story. ”

He spoke of his grandfather, a cook for the British in Kenya called “boy” by his employers. He spoke of his father herding goats in a tiny village, and he spoke of the problems that have persisted across the African continent.

“It is easy to point fingers, and to pin the blame for these problems on others,” he said. “Yes, a colonial map that made little sense bred conflict, and the West has often approached Africa as a patron, rather than a partner.

“But the West is not responsible for the destruction of the Zimbabwean economy over the last decade, or wars in which children are enlisted as combatants,” he said. “Here in Ghana, you show us a face of Africa that is too often overlooked by a world that sees only tragedy or the need for charity. The people of Ghana have worked hard to put democracy on a firmer footing, with peaceful transfers of power even in the wake of closely contested elections.”

This the text of the president’s address to the parliament of Ghana:

“Good morning. It is an honor for me to be in Accra, and to speak to the representatives of the people of Ghana. I am deeply grateful for the welcome that I’ve received, as are Michelle, Malia, and Sasha Obama. Ghana’s history is rich, the ties between our two countries are strong, and I am proud that this is my first visit to sub-Saharan Africa as President of the United States.
I am speaking to you at the end of a long trip. I began in Russia, for a Summit between two great powers. I traveled to Italy, for a meeting of the world’s leading economies. And I have come here, to Ghana, for a simple reason: the 21st century will be shaped by what happens not just in Rome or Moscow or Washington, but by what happens in Accra as well.
This is the simple truth of a time when the boundaries between people are overwhelmed by our connections. Your prosperity can expand America’s. Your health and security can contribute to the world’s. And the strength of your democracy can help advance human rights for people everywhere.
So I do not see the countries and peoples of Africa as a world apart; I see Africa as a fundamental part of our interconnected world – as partners with America on behalf of the future that we want for all our children. That partnership must be grounded in mutual responsibility, and that is what I want to speak with you about today.
We must start from the simple premise that Africa’s future is up to Africans.
I say this knowing full well the tragic past that has sometimes haunted this part of the world. I have the blood of Africa within me, and my family’s own story encompasses both the tragedies and triumphs of the larger African story.
My grandfather was a cook for the British in Kenya, and though he was a respected elder in his village, his employers called him “boy” for much of his life. He was on the periphery of Kenya’s liberation struggles, but he was still imprisoned briefly during repressive times. In his life, colonialism wasn’t simply the creation of unnatural borders or unfair terms of trade – it was something experienced personally, day after day, year after year.
My father grew up herding goats in a tiny village, an impossible distance away from the American universities where he would come to get an education. He came of age at an extraordinary moment of promise for Africa. The struggles of his own father’s generation were giving birth to new nations, beginning right here in Ghana. Africans were educating and asserting themselves in new ways. History was on the move.
But despite the progress that has been made – and there has been considerable progress in parts of Africa – we also know that much of that promise has yet to be fulfilled. Countries like Kenya, which had a per capita economy larger than South Korea’s when I was born, have been badly outpaced. Disease and conflict have ravaged parts of the African continent. In many places, the hope of my father’s generation gave way to cynicism, even despair.
It is easy to point fingers, and to pin the blame for these problems on others. Yes, a colonial map that made little sense bred conflict, and the West has often approached Africa as a patron, rather than a partner. But the West is not responsible for the destruction of the Zimbabwean economy over the last decade, or wars in which children are enlisted as combatants. In my father’s life, it was partly tribalism and patronage in an independent Kenya that for a long stretch derailed his career, and we know that this kind of corruption is a daily fact of life for far too many.
Of course, we also know that is not the whole story. Here in Ghana, you show us a face of Africa that is too often overlooked by a world that sees only tragedy or the need for charity. The people of Ghana have worked hard to put democracy on a firmer footing, with peaceful transfers of power even in the wake of closely contested elections. And with improved governance and an emerging civil society, Ghana’s economy has shown impressive rates of growth.
This progress may lack the drama of the 20th century’s liberation struggles, but make no mistake: it will ultimately be more significant. For just as it is important to emerge from the control of another nation, it is even more important to build one’s own.
So I believe that this moment is just as promising for Ghana – and for Africa – as the moment when my father came of age and new nations were being born. This is a new moment of promise. Only this time, we have learned that it will not be giants like Nkrumah and Kenyatta who will determine Africa’s future. Instead, it will be you – the men and women in Ghana’s Parliament, and the people you represent. Above all, it will be the young people – brimming with talent and energy and hope – who can claim the future that so many in my father’s generation never found.
To realize that promise, we must first recognize a fundamental truth that you have given life to in Ghana: development depends upon good governance. That is the ingredient which has been missing in far too many places, for far too long. That is the change that can unlock Africa’s potential. And that is a responsibility that can only be met by Africans.
As for America and the West, our commitment must be measured by more than just the dollars we spend. I have pledged substantial increases in our foreign assistance, which is in Africa’s interest and America’s. But the true sign of success is not whether we are a source of aid that helps people scrape by – it is whether we are partners in building the capacity for transformational change.
This mutual responsibility must be the foundation of our partnership. And today, I will focus on four areas that are critical to the future of Africa and the entire developing world: democracy; opportunity; health; and the peaceful resolution of conflict.
First, we must support strong and sustainable democratic governments.
As I said in Cairo, each nation gives life to democracy in its own way, and in line with its own traditions. But history offers a clear verdict: governments that respect the will of their own people are more prosperous, more stable, and more successful than governments that do not.
This is about more than holding elections – it’s also about what happens between them. Repression takes many forms, and too many nations are plagued by problems that condemn their people to poverty. No country is going to create wealth if its leaders exploit the economy to enrich themselves, or police can be bought off by drug traffickers. No business wants to invest in a place where the government skims 20 percent off the top, or the head of the Port Authority is corrupt. No person wants to live in a society where the rule of law gives way to the rule of brutality and bribery. That is not democracy, that is tyranny, and now is the time for it to end.
In the 21st century, capable, reliable and transparent institutions are the key to success – strong parliaments and honest police forces; independent judges and journalists; a vibrant private sector and civil society. Those are the things that give life to democracy, because that is what matters in peoples’ lives.
Time and again, Ghanaians have chosen Constitutional rule over autocracy, and shown a democratic spirit that allows the energy of your people to break through. We see that in leaders who accept defeat graciously, and victors who resist calls to wield power against the opposition. We see that spirit in courageous journalists like Anas Aremeyaw Anas, who risked his life to report the truth. We see it in police like Patience Quaye, who helped prosecute the first human trafficker in Ghana. We see it in the young people who are speaking up against patronage, and participating in the political process.
Across Africa, we have seen countless examples of people taking control of their destiny, and making change from the bottom up. We saw it in Kenya, where civil society and business came together to help stop post-election violence. We saw it in South Africa, where over three quarters of the country voted in the recent election – the fourth since the end of Apartheid. We saw it in Zimbabwe, where the Election Support Network braved brutal repression to stand up for the principle that a person’s vote is their sacred right.
Make no mistake: history is on the side of these brave Africans, and not with those who use coups or change Constitutions to stay in power. Africa doesn’t need strongmen, it needs strong institutions.
America will not seek to impose any system of government on any other nation – the essential truth of democracy is that each nation determines its own destiny. What we will do is increase assistance for responsible individuals and institutions, with a focus on supporting good governance – on parliaments, which check abuses of power and ensure that opposition voices are heard; on the rule of law, which ensures the equal administration of justice; on civic participation, so that young people get involved; and on concrete solutions to corruption like forensic accounting, automating services, strengthening hotlines, and protecting whistle-blowers to advance transparency and accountability.
As we provide this support, I have directed my Administration to give greater attention to corruption in our Human Rights report. People everywhere should have the right to start a business or get an education without paying a bribe. We have a responsibility to support those who act responsibly and to isolate those who don’t, and that is exactly what America will do.
This leads directly to our second area of partnership – supporting development that provides opportunity for more people.
With better governance, I have no doubt that Africa holds the promise of a broader base for prosperity. The continent is rich in natural resources. And from cell phone entrepreneurs to small farmers, Africans have shown the capacity and commitment to create their own opportunities. But old habits must also be broken. Dependence on commodities – or on a single export – concentrates wealth in the hands of the few, and leaves people too vulnerable to downturns.
In Ghana, for instance, oil brings great opportunities, and you have been responsible in preparing for new revenue. But as so many Ghanaians know, oil cannot simply become the new cocoa. From South Korea to Singapore, history shows that countries thrive when they invest in their people and infrastructure; when they promote multiple export industries, develop a skilled workforce, and create space for small and medium-sized businesses that create jobs.
As Africans reach for this promise, America will be more responsible in extending our hand. By cutting costs that go to Western consultants and administration, we will put more resources in the hands of those who need it, while training people to do more for themselves. That is why our $3.5 billion food security initiative is focused on new methods and technologies for farmers – not simply sending American producers or goods to Africa. Aid is not an end in itself. The purpose of foreign assistance must be creating the conditions where it is no longer needed.
America can also do more to promote trade and investment. Wealthy nations must open our doors to goods and services from Africa in a meaningful way. And where there is good governance, we can broaden prosperity through public-private partnerships that invest in better roads and electricity; capacity-building that trains people to grow a business; and financial services that reach poor and rural areas. This is also in our own interest – for if people are lifted out of poverty and wealth is created in Africa, new markets will open for our own goods.
One area that holds out both undeniable peril and extraordinary promise is energy. Africa gives off less greenhouse gas than any other part of the world, but it is the most threatened by climate change. A warming planet will spread disease, shrink water resources, and deplete crops, creating conditions that produce more famine and conflict. All of us – particularly the developed world – have a responsibility to slow these trends – through mitigation, and by changing the way that we use energy. But we can also work with Africans to turn this crisis into opportunity.
Together, we can partner on behalf of our planet and prosperity, and help countries increase access to power while skipping the dirtier phase of development. Across Africa, there is bountiful wind and solar power; geothermal energy and bio-fuels. From the Rift Valley to the North African deserts; from the Western coast to South Africa’s crops -Africa’s boundless natural gifts can generate its own power, while exporting profitable, clean energy abroad.
These steps are about more than growth numbers on a balance sheet. They’re about whether a young person with an education can get a job that supports a family; a farmer can transfer their goods to the market; or an entrepreneur with a good idea can start a business. It’s about the dignity of work. It’s about the opportunity that must exist for Africans in the 21st century.
Just as governance is vital to opportunity, it is also critical to the third area that I will talk about – strengthening public health.
In recent years, enormous progress has been made in parts of Africa. Far more people are living productively with HIV/AIDS, and getting the drugs they need. But too many still die from diseases that shouldn’t kill them. When children are being killed because of a mosquito bite, and mothers are dying in childbirth, then we know that more progress must be made.
Yet because of incentives – often provided by donor nations – many African doctors and nurses understandably go overseas, or work for programs that focus on a single disease. This creates gaps in primary care and basic prevention. Meanwhile, individual Africans also have to make responsible choices that prevent the spread of disease, while promoting public health in their communities and countries.
Across Africa, we see examples of people tackling these problems. In Nigeria, an Interfaith effort of Christians and Muslims has set an example of cooperation to confront malaria. Here in Ghana and across Africa, we see innovative ideas for filling gaps in care – for instance, through E-Health initiatives that allow doctors in big cities to support those in small towns.
America will support these efforts through a comprehensive, global health strategy. Because in the 21st century, we are called to act by our conscience and our common interest. When a child dies of a preventable illness in Accra, that diminishes us everywhere. And when disease goes unchecked in any corner of the world, we know that it can spread across oceans and continents.
That is why my Administration has committed $63 billion to meet these challenges. Building on the strong efforts of President Bush, we will carry forward the fight against HIV/AIDS. We will pursue the goal of ending deaths from malaria and tuberculosis, and eradicating polio. We will fight neglected tropical disease. And we won’t confront illnesses in isolation – we will invest in public health systems that promote wellness, and focus on the health of mothers and children.
As we partner on behalf of a healthier future, we must also stop the destruction that comes not from illness, but from human beings – and so the final area that I will address is conflict.
Now let me be clear: Africa is not the crude caricature of a continent at war. But for far too many Africans, conflict is a part of life, as constant as the sun. There are wars over land and wars over resources. And it is still far too easy for those without conscience to manipulate whole communities into fighting among faiths and tribes.
These conflicts are a millstone around Africa’s neck. We all have many identities – of tribe and ethnicity; of religion and nationality. But defining oneself in opposition to someone who belongs to a different tribe, or who worships a different prophet, has no place in the 21st century. Africa’s diversity should be a source of strength, not a cause for division. We are all God’s children. We all share common aspirations – to live in peace and security; to access education and opportunity; to love our families, our communities, and our faith. That is our common humanity.
That is why we must stand up to inhumanity in our midst. It is never justifiable to target innocents in the name of ideology. It is the death sentence of a society to force children to kill in wars. It is the ultimate mark of criminality and cowardice to condemn women to relentless and systematic rape. We must bear witness to the value of every child in Darfur and the dignity of every woman in Congo. No faith or culture should condone the outrages against them. All of us must strive for the peace and security necessary for progress.
Africans are standing up for this future. Here, too, Ghana is helping to point the way forward. Ghanaians should take pride in your contributions to peacekeeping from Congo to Liberia to Lebanon, and in your efforts to resist the scourge of the drug trade. We welcome the steps that are being taken by organizations like the African Union and ECOWAS to better resolve conflicts, keep the peace, and support those in need. And we encourage the vision of a strong, regional security architecture that can bring effective, transnational force to bear when needed.
America has a responsibility to advance this vision, not just with words, but with support that strengthens African capacity. When there is genocide in Darfur or terrorists in Somalia, these are not simply African problems – they are global security challenges, and they demand a global response. That is why we stand ready to partner through diplomacy, technical assistance, and logistical support, and will stand behind efforts to hold war criminals accountable. And let me be clear: our Africa Command is focused not on establishing a foothold in the continent, but on confronting these common challenges to advance the security of America, Africa and the world.
In Moscow, I spoke of the need for an international system where the universal rights of human beings are respected, and violations of those rights are opposed. That must include a commitment to support those who resolve conflicts peacefully, to sanction and stop those who don’t, and to help those who have suffered. But ultimately, it will be vibrant democracies like Botswana and Ghana which roll back the causes of conflict, and advance the frontiers of peace and prosperity.
As I said earlier, Africa’s future is up to Africans.
The people of Africa are ready to claim that future. In my country, African-Americans – including so many recent immigrants – have thrived in every sector of society. We have done so despite a difficult past, and we have drawn strength from our African heritage. With strong institutions and a strong will, I know that Africans can live their dreams in Nairobi and Lagos; in Kigali and Kinshasa; in Harare and right here in Accra.
Fifty-two years ago, the eyes of the world were on Ghana. And a young preacher named Martin Luther King traveled here, to Accra, to watch the Union Jack come down and the Ghanaian flag go up. This was before the march on Washington or the success of the civil rights movement in my country. Dr. King was asked how he felt while watching the birth of a nation. And he said: “It renews my conviction in the ultimate triumph of justice.”
Now, that triumph must be won once more, and it must be won by you. And I am particularly speaking to the young people. In places like Ghana, you make up over half of the population. Here is what you must know: the world will be what you make of it.
You have the power to hold your leaders accountable, and to build institutions that serve the people. You can serve in your communities, and harness your energy and education to create new wealth and build new connections to the world. You can conquer disease, end conflicts, and make change from the bottom up. You can do that. Yes you can. Because in this moment, history is on the move.
But these things can only be done if you take responsibility for your future. It won’t be easy. It will take time and effort. There will be suffering and setbacks. But I can promise you this: America will be with you. As a partner. As a friend. Opportunity won’t come from any other place, though – it must come from the decisions that you make, the things that you do, and the hope that you hold in your hearts.
Freedom is your inheritance. Now, it is your responsibility to build upon freedom’s foundation. And if you do, we will look back years from now to places like Accra and say that this was the time when the promise was realized – this was the moment when prosperity was forged; pain was overcome; and a new era of progress began. This can be the time when we witness the triumph of justice once more. Thank you. ”

“Well, no, I don’t think it would be fair to say it was half,” the president told an interviewer for Sky News. “You know, I never lived here. I didn’t visit until I was in my mid-twenties. But I think that it is a source of inspiration, it’s also a place that, because of my familial connection you know, I think I feel very personally when I think about children who aren’t getting opportunities, when I think about the problems of HIV/AIDS, or issues of corruption. These are things that people I know, family members of mine, have experienced. It’s not something I see in abstract terms.”

Obama also was asked by the British interviewer, Adam Boulton, if the first African-American president represents a “post-racial America.”

“I don’t use that term,” Obama replied. “Just because it somehow implies that the door is closed to any issues related to race. And I just don’t think that’s true. But I do think there is no doubt that my election signifies extraordinary progress, progress that my grandparents or Michelle’s grandparents could have never have imagined.”

The president also visited Cape Coast Castle in Ghana with his young daughters — the colonial era castle housed dungeons where Africans were held for the trans-Atlantic slave trade – and had this to say in a public statement after the visit:

“You know, I think it was particularly important for Malia and Sasha, who are growing up in such a blessed way, to be reminded that history can take very cruel turns, and hopefully one of the things that was imparted to them during this trip is their sense of obligation to fight oppression and cruelty wherever it appears, and that any group of people who are degrading another group of people have to be fought against with whatever tools we have available to us.”

The castle stop came up in the interview as well. Here, courtesy of Sky News, is the transcript of Political Editor Adam Boulton’s interview with the president in Ghana:

ADAM BOULTON: Mr President thank you for talking to Sky News both in Britain and of course in many countries in Africa. Could I ask you first of all, as the ‘first son of Africa’, if you like, to be President of the United States, how does it feel to be paying your first visit as President to Africa?

PRESIDENT OBAMA: Well obviously the welcome in Ghana has been extraordinary. People have been gracious and so thoughtful. To be able to bring my children here and to experience, for example, this castle and to understand that particular story of the African Diaspora, I think is something that will stay with them for a long time. And hopefully the message we’re also sending is that the United States is committed to Africa. We want to be a partner, not to dictate how Africa moves forward but to be there in a relationship of mutual responsibility and mutual respect.

AB: I mean what does Africa mean to you? Is it half of you?

OBAMA: Well, no, I don’t think it would be fair to say it was half. You know, I never lived here. I didn’t visit until I was in my mid-twenties. But I think that it is a source of inspiration, it’s also a place that, because of my familial connection you know, I think I feel very personally when I think about children who aren’t getting opportunities, when I think about the problems of HIV/AIDS, or issues of corruption. These are things that people I know, family members of mine, have experienced. It’s not something I see in abstract terms.

AB: Yet sometimes reading your first book and also even listening to you today talking about corruption, there’s a degree of impatience to a certain extent.

OBAMA: Well I think that’s right. There is impatience. You know my general attitude is that there is just so much promise here. I remember the first time that I travelled as a U.S. Senator to Kenya, we had our American press pool with us and some of the reporters came back to me and said, you know we were talking to people on the streets and it’s amazing how well informed these folks are and they’re up on not just Kenyan politics but U.S. politics. And I said you’re right, these are folks of extraordinary talent and capacity. And the problem is that they don’t have institutional structures that allow them to thrive. And it is up to governments and leaders to, not do for people, but to give them the opportunity where if they work hard and are willing to put in some sweat that they can succeed. And not enough of that has been done here…

AB: Yeah there’s Somalia, Sudan, Zimbabwe, corruption, despotism.

OBAMA: Yeah. And at some point despite the tragic history of Africa, we have to say that the days of colonialism are over, that Africa has the resources and the talent necessary to move forward and it’s time to go ahead and get things done. And for those of us in the West, I think our obligation is to on the one hand say we are committed to working with you and we will provide you assistance where possible. But it’s got to be a mutual responsibility to lift up the continent.

AB: You mention colonialism. It’s been alleged that you don’t like the Brits because what they did to your grandfather.

OBAMA: Yeah, I’ve always been curious about this allegation. I love the Brits! And I think I’ve shown my affection every time I’ve travelled there but yeah, I think this is an example of Fleet Street trying to sell newspapers.

AB: But also, I mean, there must be some resentment in countries that were —

OBAMA: Well, no, I mean look, the notion that somehow I would judge countries at this point based on what happened a hundred years ago is not something that would make much sense.

AB: Can I ask you on the other front, we’re here at a slave fortress at which many Africans Americans started their journey to America and I think your own wife has said she can’t trace her family, she didn’t know how they got there. We saw you going round with your children, your family. Pretty sombre experience for you all.

OBAMA: Well sombre but I think instructive. I’m glad my children came because part of what I try to communicate to them is that slavery, like the Holocaust, like other instances of extraordinary cruelty, can happen anywhere, any place, and is usually rooted in one group of people asserting superiority over another group of people. And I want them to learn very early how dangerous that mindset can be. And to fight against it.

AB: What should the fact of slavery, I think you called it the United State’s original sin once, what should that mean to African Americans today?

OBAMA: Well, I think that it is important to understand that history and not paper it over. On the other hand I think it should be a source of great inspiration for black and white Americans…that we have been able to overcome so many of the remnants of slavery. Not all. We still have instances of discrimination. There are still structural inequalities that grew out of the history of slavery and discrimination…

AB: Do you represent post-racial America?

OBAMA: Well…I …rarely…I don’t use that term. Just because it somehow implies that the door is closed to any issues related to race. And I just don’t think that’s true. But I do think there is no doubt that my election signifies extraordinary progress, progress that my grandparents or Michelle’s grandparents could have never have imagined.

AB: Just one final question on Africa…suggestion coming that actually if you look at the amount of aid flowing in, if you look at even the optimistic, what’s going through Congress at the moment, proposals on climate change…they won’t go nearly far enough to save this continent.

OBAMA: Well, you know, Africa is often troubled but always resilient. And I think that we have to, in the West, on issues like climate change, take seriously our obligations – our carbon footprint is far larger than the African carbon footprint is. And we’re already seeing some effects here in Africa from a warming planet. So we’ve got a special obligation, but I’m confident that as difficult as it is, working together, that we can not just save Africa, but save ourselves.

AB: And the bill – is it enough?

OBAMA: Well, the…it is the first step in what will be a long journey.

AB: Moving on to Afghanistan…the United States has paid a much higher price in lives in both Iraq and Afghanistan, than Britain. You’ve had more troops there. Yet this week, there have been 15 deaths in fewer days and the number of British military killed in Afghanistan now exceeds Iraq. A growing number of people at home who are just saying we haven’t got this mission right, perhaps we don’t have the strength or the support that we need. What do you say to that?

OBAMA: Well first of all, my heart obviously goes out to the families of those British soldiers. And Great Britain has played an extraordinary role in this coalition. Understanding that we cannot allow either Afghanistan or Pakistan to be a safe haven for Al Qaeda. Those who would, with impunity, blow up train stations in London or buildings in New York. And so we’ve got a core mission that we have to accomplish. We knew that this summer was going to be tough fighting, that there was an interest in the Taliban exerting control, they have I think been pushed back, but we still have a long way to go. We’ve got to get through elections. The most important thing we can do is to combine our military efforts with effective diplomacy and development, so that Afghans feel a greater stake and have a greater capacity to secure their country. And post-election, once the election’s taken place in September in Afghanistan, I think we need to start directing our attention to how do we create an Afghan army, an Afghan Police. How do we work with the Pakistanis effectively, so that they are the ones who are really at the forefront of controlling their own countries.

AB: You’ve been speaking to Gordon Brown. Have you been asking him to strengthen the force in Afghanistan?

OBAMA: You know we had a conversation early on while I was still doing a review, to make sure that I had his insights and ideas about how to approach this. We think that the British have made an extraordinary contribution. I think that all of us are going to have to do an evaluation after the Afghan election to see what more we can do. It may not be on the military side. It may be on the development side providing Afghan farmers alternatives to poppy crops, making sure we’re effectively training a judiciary system and a rule of law in Afghanistan that people trust. So there are a whole range of ways that coalition members are going to be able to —

AB: But do you need the British forces? I mean you’ve taken over from them in Basra, you’ve now leading the mission in Helmand.

OBAMA: Well look, the contribution of the British is critical. This is not an American mission. The mission in Afghanistan is one that the Europeans have as much, if not more, of a stake in than we do. Certainly the Afghans as well as the Pakistanis have more of a stake than we do. The likelihood of a terrorist attack in London is at least as high, if not higher, than it is in the United States. And that’s the reason why Tony Blair and Gordon Brown and others have made this commitment. It’s not because they wish to put their young men and women in harm’s way, it’s because of a recognition that we’ve got a serious fight on our hands and we’ve got to deal with it smartly, but we’ve got to deal with it effectively.

AB: Final question because I am keeping you from Air Force One, President Assad last week invited you on Sky News to start negotiating face to face and to go to Syria. Are you going to accept that invitation?

OBAMA: Well, you know I think that we’ve started to see some diplomatic contacts between the United States and Syria. There are aspects of Syrian behaviour that trouble us and, you know, we think that there is a way that Syria can be much more constructive on a whole host of these issues. But, as you know, I’m a believer in engagement and my hope is that we can continue to see progress on that front.

AB: Thank you very much for engaging with us.

OBAMA: Thank you, I enjoyed it.

In an Op-ed essay appearing in newspapers today, the president says this of the $787-billion economic stimulus plan enacted in February: “The American Recovery and Reinvestment Act was not expected to restore the economy to full health on its own but to provide the boost necessary to stop the free fall.

“So far, it has done that. It was, from the start, a two-year program, and it will steadily save and create jobs as it ramps up over this summer and fall. We must let it work the way it’s supposed to, with the understanding that in any recession, unemployment tends to recover more slowly than other measures of economic activity.”

Yet something is missing in this piece, the most recent of a series of Op-ed articles that Obama has signed since his inauguration, the way the Senate minority leader’s office sees it:

“Noticeably absent from the president’s op-ed on the stimulus today are the words “save or create 3.5 to 4 million jobs,” Don Stewart of Minority Leader Mitch McConnell’s office notes.

“In their place, a new definition of success for the stimulus: “it will steadily save and create jobs as it ramps up over this summer and fall.” Just “jobs” not “millions of jobs?” Stewart writes this morning, “Oh, and apparently, the stimulus was only supposed to provide “the boost necessary to stop the free fall.”

This is the text of the president’s Op-ed essay:

“Nearly six months ago, my administration took office amid the most severe economic downturn since the Great Depression. At the time, we were losing, on average, 700,000 jobs a month. And many feared that our financial system was on the verge of collapse.

The swift and aggressive action we took in those first few months has helped pull our financial system and our economy back from the brink. We took steps to restart lending to families and businesses, stabilize our major financial institutions, and help homeowners stay in their homes and pay their mortgages. We also passed the most sweeping economic recovery plan in our nation’s history.

The American Recovery and Reinvestment Act was not expected to restore the economy to full health on its own but to provide the boost necessary to stop the free fall. So far, it has done that. It was, from the start, a two-year program, and it will steadily save and create jobs as it ramps up over this summer and fall. We must let it work the way it’s supposed to, with the understanding that in any recession, unemployment tends to recover more slowly than other measures of economic activity.

I am confident that the United States of America will weather this economic storm. But once we clear away the wreckage, the real question is what we will build in its place. Even as we rescue this economy from a full-blown crisis, I have insisted that we must rebuild it better than before. For if we do not seize this moment to confront the weaknesses that have plagued our economy for decades, we will consign ourselves and our children to future crises, sluggish growth, or both.

There are some who say we must wait to meet our greatest challenges. They favor an incremental approach or believe that doing nothing is somehow an answer. But that is exactly the thinking that led us to this predicament. Ignoring big challenges and deferring tough decisions is what Washington has done for decades, and it’s exactly what I sought to change by running for president.

Now is the time to build a firmer, stronger foundation for growth that not only will withstand future economic storms but that helps us thrive and compete in a global economy. To build that foundation, we must lower the health-care costs that are driving us into debt, create the jobs of the future within our borders, give our workers the skills and training they need to compete for those jobs, and make the tough choices necessary to bring down our deficit in the long run.

Already, we’re making progress on health-care reform that controls costs while ensuring choice and quality, as well as energy legislation that will make clean energy the profitable kind of energy, leading to whole new industries and jobs that cannot be outsourced.

And this week, I’ll be talking about how we give our workers the skills they need to compete for these jobs of the future. In an economy where jobs requiring at least an associate’s degree are projected to grow twice as fast as jobs requiring no college experience, it’s never been more essential to continue education and training after high school. That’s why we’ve set a goal of leading the world in college degrees by 2020. Part of this goal will be met by helping Americans better afford a college education. But part of it will also be strengthening our network of community colleges.

We believe it’s time to reform our community colleges so that they provide Americans of all ages a chance to learn the skills and knowledge necessary to compete for the jobs of the future. Our community colleges can serve as 21st-century job training centers, working with local businesses to help workers learn the skills they need to fill the jobs of the future. We can reallocate funding to help them modernize their facilities, increase the quality of online courses and ultimately meet the goal of graduating 5 million more Americans from community colleges by 2020.

Providing all Americans with the skills they need to compete is a pillar of a stronger economic foundation, and, like health care or energy, we cannot wait to make the necessary changes. We must continue to clean up the wreckage of this recession, but it is time to rebuild something better in its place. It won’t be easy, and there will continue to be those who argue that we have to put off hard decisions that we have already deferred for far too long. But earlier generations of Americans didn’t build this great country by fearing the future and shrinking our dreams. This generation has to show that same courage and determination. I believe we will.”

Almost another half a million jobs in the US economy were lost in the month of June, pushing the unemployment rate to 9.5 per cent – the highest in 26 years and still growing.

Mr Obama says he was deeply concerned as American families with jobs now wonder if they are next in line to lose theirs.

“Obviously we are deeply concerned about the employment rate. What we are still seeing is too many jobs lost – too many families who are worried about whether they are going to be next,” he said.

A US unemployment rate of 12 per cent by the year’s end or early next year is not out of the question, according to some economists who were shocked by today’s much worse-than-expected monthly job loss figure.

Certainly an 11 per cent unemployment rate by the end of the first quarter of next year is a distinct possibility.

There were 467,000 jobs lost in the month of June – a figure which triggered a sell-off on Wall Street, initially sending all 30 companies on the Dow into the red.

Since the recession began 18 months ago, the US economy has lost a total of 6.5 million jobs and the unemployment rate is almost double.

Today’s job loss figure also rocked faith in a modest second half of the year recovery in the US economy.

Earlier this year the Obama administration projected the unemployment rate would top out at about 8 per cent because of the trillion dollar stimulus package.

But much of that stimulus money is still in the pipeline, with less than 10 per cent of the proposed spending actually spent.

White House spokesman Robert Gibbs today continued to argue the stimulus was working and the recession was slowing.

“From November of 2008 through I believe March of 2009, the average job loss for those months approached 700,000,” he said.

“In the most previous quarter, that job loss average was 436,000 so I think there is a sense that the beginnings of stabilisation are taking hold and hopefully the worst job loss is behind us.”

The numbers of people now out of work, and the effect the rising unemployment rate has on confidence, poses the biggest hurdle to recover.

Chief investment officer with Cumberland Advisers, David Kotok, says the recovery will be slow.

“I don’t know about jobless recovery but it is very slow. We take this unemployment rate into the tens and then it stays there and it comes off very, very slowly,” he said.

Jobless numbers released today reinforced the view that unemployment levels will be high not only for months, but even years to come.

Mr Obama makes his first visit to Moscow as president on Monday, with talks scheduled with his Russian counterpart Dmitry Medvedev and Mr Putin.

The US President has used an Associated Press interview to say it is important that Mr Putin understands a Cold War approach to US-Russia relations is outdated.

“I think Putin has one foot in the old ways of doing business and one foot in the new,” Mr Obama said.

In response, Mr Putin told journalists that Russia “stands firmly on [its] feet and always looks to the future”.

Mr Putin says Moscow is waiting for Mr Obama’s visit “with very warm feelings”.