For the President’s weekly address here is the transcription “Labor Day and Fair Rewards for Hard Work“.

As we spend time with family and friends this Labor Day weekend, many of us will also be thinking about the state of working America. Yesterday, we received a report showing that job losses have slowed dramatically compared to just a few months ago. Earlier in the week, we learned that the manufacturing sector has posted its first gains in 18 months, and that many of the banks that borrowed money at the height of the financial crisis are now returning it to taxpayers with interest. These are only the most recent signs that the economy is turning around, though these signs are little comfort to those who’ve experienced the pain of losing a job in the previous month, or in the previous two years of this recession.

That’s why it’s so important that we remain focused on speeding our economic recovery. Throughout America today, tens of thousands of recovery projects are underway, repairing our nation’s roads, bridges, ports and waterways; renovating schools; and developing renewable energy. We’re putting Americans back to work doing the work America needs done — and mostly in private sector jobs. But even as we take aggressive steps to put people back to work, it’s also important that we keep faith with men and women looking back on a lifetime of labor; hard-working Americans who deserve to know that their efforts have resulted in a secure future, including a secure retirement. for this recession has not only led the loss of jobs, but also the loss of savings. The drop in home values, for example, has also meant a drop in the value of the single largest investment most families have. And the decline in the financial markets has led to a decline in the value of 401(k) and other sources of savings and retirement security.

As a result, over the past two years, the American people have lost about $2 trillion in retirement savings. This carries a painful toll. I’ve head from so many who’ve had to put off retirement, or come out of retirement to make ends meet. I’ve heard from seniors who worked hard their whole lives but now, in their golden years, are unsure of where to turn to pay the bills, afford the prescriptions, or keep the home in which they raised a family. And having too little in savings not only leaves people financially ill-prepared for retirement, but also for whatever challenges life brings. It places in jeopardy so many dreams, from owning a home to attending college.

The fact is, even before this recession hit, the savings rate was essentially zero, while borrowing had risen and credit card debt had increased. Many were simply struggling to stay afloat as incomes were stagnant — or falling — and jobs were scarce; that’s important to remember. But there were also those who spent beyond their means. And more broadly, tens of millions of families have been, for a variety of reasons, unable to put away enough money for a secure retirement. Half of America’s workforce (employees) doesn’t have access to a retirement plan at work. And fewer than 10% of those without workplace (employer) retirement plans have one of their own.

We can’t continue on this course. And we certainly can’t go back to an economy based on inflated profits and maxed-out credit cards; the cycles of speculative boom and painful busts; a system that put the interest of the short-term ahead of the needs of long-term. We have to revive this economy and rebuild it stronger than before. And making sure that folks have the opportunity and incentive to save — for a home or college, for retirement or a rainy day — is essential to that effort. If you work hard and meet your responsibilities, this country is going to honor our collective responsibility to you: to ensure that you can save and secure your retirement. That’s why we’re annoucing several common-sense changes that will help families put away money for the future.

First, we’re going to make it easier for small businesses to do what large businesses do: allow workers (employees) to automatically enroll in a 401(k) or an individual retirement account. We know that automatic enrollment has made a big difference in participation rates by making it simpler for workers (employees) to save — and that’s why we’re going to expand it to more people.

Second, we’ll make it easier for people to save their federal tax refunds, which 100 million families receive. Today, if you have a retirement account, you can have your refund deposited directly into your account. With this change, we’ll make it easier for those without retirement plans to save their refunds as well. You’ll be able to check a box on your tax return to receive your refund as a savings bond.

Third, we’ll make it possible for employees to put payments for unused vacation and sick days into their retirement plans if they wish. Right now, most workers don’t have that option.

And Fourth, the IRS and the Treasury Department are creating a plain-English, easy-to-follow guide, as well as a website, to help folks navigate what are often very complicated waters, especially for workers changing jobs who often are unsure how best to continue saving for retirement. Because the rules ought to be written to encourage people to save — instead of discouraging them.

We’ll also build on these steps by working with Congress. As part of my budget, I’ve proposed ensuring that nearly every American has access to a retirement savings account through his or her job. This plan would make it possible for workers to automatically enroll in IRAs through payroll contributions. And the budget simplifies and expands a tax credit for millions of families, matching half of a family’s savings up to $1,000 per year and depositing the tax credit directly into a retirement account.

This is a difficult time for our country. But I’m confident that we can meet the challenges we face and leave behind something better; that we’re ready to take responsibility for our future once again — as individuals and as a nation.

I hope that all of you have the chance to enjoy this Labor Day weekend with family and friends. But my larger hope and expectation is that next Labor Day, the economic storms we’re weathering now will have given way to brighter and more prosperous times.

Labor Day and Fair Rewards for Hard Work

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Playing Santa is an expensive hobby, but there’s several ideas you can use all year round to reduced both expense and stress.  First piece of advice — make a budget.  Decide how much to spend and divide it among the people you are shopping for and stick to it.  Don’t include yourself on your holiday list. 

The National Retail Federation says the average person spends close to $100 dollars on themselves while holiday shopping.

Next if you use a credit card that offer a cash back reward — now can be a great time to cash in.  And some cards offer double cash with select retailers.  So, a $20 dollar reward can turn into a $40 dollar gift certificate. 

Use the Internet to comparison shop. Even if you don’t buy online, you can use it to see if local merchants will compete with the prices you find. 

Did you get gift cards last year that you haven’t used up?  Maybe it’s time to turn them into a gift for someone else. And use imagination instead of cash.  What kid wouldn’t like to receive a “Get Out of punishment free” card. 

Just remember the holidays aren’t all about money.   And the best holiday shopping tips — shop with a holiday list.  Your holiday shopping made easy!

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It’s time for a new calendar — 2009 calendars sold here. 

2009 Holidays & Other Important Dates

January 2009 Holidays

New Year’s Day Thursday, January 1 2009
Martin Luther King, Jr Birthday Monday, January 19 2009

February 2009 Holidays

Groundhog Day Monday, February 2 2009
Valentine’s Day Saturday February 14 2009
President’s Day Monday, February 16 2009
Mardi Gras Tuesday. February 24 2009
Ash Wednesday Wednesday February 25 2009

March 2009 Holidays

Daylight Savings Time Sunday, March 8 2009
St. Patrick’s Day Tuesday, March 17 2009
First Day of Spring Friday, March 20 2009

April 2009 Holidays

April Fool’s Day Wednesday, April 1 2009
Easter Sunday, April 12 2009
Earth Day & Administrative Day Wednesday, April 22 2009
Arbor Day Friday, April 24 2009

May 2009 Holidays

Cinco De Mayo Tuesday, May 5 2009
Mothers Day Sunday, May 10 2009
Armed Forces Day Saturday, May 16 2009
Memorial Day Monday, May 25 2009

June 2009 Holidays

Flag Day Sunday, June 14 2009
Father’s Day Sunday, June 21 2009
Summer Begins Sunday, June 21 2009

July 2009 Holidays

Independence Day Saturday, July 4 2009

September 2009 Holidays

Labor Day Monday, September 7 2009
First Day Of Autumn Tuesday, September 22 2009

October 2009 Holidays

Columbus Day Monday, October 12 2009
Sweetest Day Saturday, october 17 2009
United Nations Day Saturday, October 24 2009
Halloween Saturday, October 31 2009

November 2009 Holidays

Daylight Savings Time Ends Sunday, November 1 2009
Veterans Day Wednesday November 11 2009
Thanksgiving Day Thursday, November 26 2009

December 2009 Holidays

First Day of Winter Monday, December 21 2009
Christmas Day Friday, December 25 2009

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You don’t have to spend a fortune to fill your family’s stockings for Christmas.  Stocking stuffers are usually novelty or small gift items, such as pocket toys, stuffed animals, travel games, electronics, for the kids; and candles, perfume, coffee, tie clips, mugs, logo tee shirts for the adults.  The simple the stocking stuffers the better.  Remember, there are presents under the tree — so don’t go overboard on the stocking stuffers.

Great Christmas Stocking Stuffers

• Small Gift baskets
• Logo tee shirts
• Stuffed animals
• Travel games
• Pocket toys
• Candles
• Personalized items
• Sample size perfume
• Small hand tools
• Accessories for gifts under the Christmas tree
• Gift certificates
• Gift cards

The History of Christmas Stockings

There are several theory of how Christmas stockings came about.  I’m only covering the Dutch story.  During the 16th century Dutch children would fill their clogs with straw for the animals (reindeer or donkey — not quit sure).  In return they would receive treats.  How we got from clogs to stockings is a mystery.

During these financial hardtimes we find ourseleves in — the best stocking stuffers is a gift from the heart.  Write a love poem, do a family craft project (scrapbook), or bake the family’s favorite cookies.

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