Weekly Address: Closing Corporate Tax Loopholes

In this week's address, the President continued his call for our nation to rally around an economic patriotism that says rather than protecting wasteful tax loopholes for a few at the top, we should be investing in things like education and job training that grow the economy for everybody.

The President highlighted the need to close one of the most unfair tax loopholes that allows companies to avoid paying taxes here at home by shifting their residence for tax purposes out of the country. The President has put forth a budget that does just that, and he has called for business tax reform that makes investment in the United States attractive, and creates incentives for companies to invest and create jobs here at home. And while he will continue to make the case for tax reform, the President is calling on Congress to take action and close this loophole now.

Click here to watch this week's Weekly Address.

"You Are Why I Ran for President in the First Place"

On Thursday, President Obama spoke under sunny skies at the Los Angeles Trade-Technical College. He talked about the progress that we've made since he took office and training our workers for a 21st-century economy.

The President called for a new sense of optimism and collective patriotism in this country: "Cynicism is a choice, and hope is a better choice. And if we can work together, I promise you there's no holding America back."

He also talked about something known as an "inversion." What's an "inversion," you ask? Learn more here.

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Apollo 11: 45 Years Later

Forty-five years ago, two American astronauts -- Buzz Aldrin and Neil Armstrong -- landed on the moon's Sea of Tranquility, and Neil Armstrong planted the first footprint on the surface of the moon.

On Tuesday, President Obama invited Buzz Aldrin; Michael Collins, the astronaut who piloted the spacecraft that orbited the moon; and Neil Armstrong's wife, Carol, to the White House. Armstrong passed away in 2012.

President Barack Obama meets with Apollo 11 astronauts Buzz Aldrin and Michael Collins, right, Carol Armstrong, widow of Apollo 11 commander Neil Armstrong, NASA Administrator Charles Bolden, and Patricia Falcone, OSTP Associate Director for National Security and International Affairs, left, in the Oval Office. This week marked the 45th anniversary of the Apollo 11 lunar landing. July 22, 2014. (Official White House Photo by Pete Souza)

To honor the anniversary, we spent a little time poring over archival footage of the Apollo 11 mission -- and included some of the incredible work that NASA is doing today. We won't spoil it all for you here, but it includes redirecting asteroids around the moon and going to Mars. So, that's pretty cool.

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"For Conspicuous Gallantry"

On Monday, President Obama presented the Medal of Honor to Staff Sergeant Ryan M. Pitts for his unwavering courage in one of the fiercest battles of the war in Afghanistan.

The President described Ryan's heroic acts during his remarks:

As the insurgents moved in, Ryan picked up a grenade, pulled the pin, and held that live grenade -- for a moment, then another, then another -- finally hurling it so they couldn't throw it back. Then he did it again. And again. Unable to stand, Ryan pulled himself up on his knees and manned a machine gun. Soldiers from the base below made a daring run -- dodging bullets and explosions -- and joined the defense. But now the enemy was inside the post -- so close they were throwing rocks at the Americans; so close they came right up to the sandbags. Eight American soldiers had now fallen. And Ryan Pitts was the only living soldier at that post.

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As always, to see even more of this week's events, watch the latest West Wing Week.