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Barack H. Obama is the 44th President of the United States.

His story is the American story values from the heartland, a middle-class upbringing in a strong family, hard work and education as the means of getting ahead, and the conviction that a life so blessed should be lived in service to others.

With a father from Kenya and a mother from Kansas, President Obama was born in Hawaii on August 4, 1961. He was raised with help from his grandfather, who served in Patton's army, and his grandmother, who worked her way up from the secretarial pool to middle management at a bank.

After working his way through college with the help of scholarships and student loans, President Obama moved to Chicago, where he worked with a group of churches to help rebuild communities devastated by the closure of local steel plants.

He went on to attend law school, where he became the first African-American president of the Harvard Law Review. Upon graduation, he returned to Chicago to help lead a voter registration drive, teach constitutional law at the University of Chicago, and remain active in his community.

President Obama's years of public service are based around his unwavering belief in the ability to unite people around a politics of purpose. In the Illinois State Senate, he passed the first major ethics reform in 25 years, cut taxes for working families, and expanded health care for children and their parents. As a United States Senator, he reached across the aisle to pass groundbreaking lobbying reform, lock up the world's most dangerous weapons, and bring transparency to government by putting federal spending online.

He was elected the 44th President of the United States on November 4, 2008, and sworn in on January 20, 2009. He and his wife, Michelle, are the proud parents of two daughters, Malia and Sasha.

Learn more about President Obama's spouse, First Lady Michelle Obama.

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President Barack Obama | The White House

In 2012, the share of the gross domestic income that went to workers fell to 42.6 percent, the lowest on record.

Under current federal regulations, workers who are deemed executive, administrative or professional employees can be denied overtime pay under a so-called white-collar exemption.

Under the new rules that Mr. Obama is seeking, fewer salaried employees could be blocked from receiving overtime, a move that would potentially shift billions of dollars' worth of corporate income into the pockets of workers. Currently, employers are prohibited from denying time-and-a-half overtime pay to any salaried worker who makes less than $455 per week. Mr. Obama's directive would significantly increase that salary level.

In addition, Mr. Obama will try to change rules that allow employers to define which workers are exempt from receiving overtime based on the kind of work they perform. Under current rules, if an employer declares that an employee's primary responsibility is executive, such as overseeing a cleanup crew, then that worker can be exempted from overtime.

White House officials said those rules were sometimes abused by employers in an attempt to avoid paying overtime. The new rules could require that employees perform a minimum percentage of "executive" work before they can be exempted from qualifying for overtime pay.

(Read more: $10.10 minimum wage could hit total employment: CBO)

"Under current rules, it literally means that you can spend 95 percent of the time sweeping floors and stocking shelves, and if you're responsible for supervising people 5 percent of the time, you can then be considered executive and be exempt," said Ross Eisenbrey, a vice president of the Economic Policy Institute, a liberal research organization in Washington.

Jared Bernstein, the former chief economic adviser to Vice President Joseph R. Biden Jr., and the former executive director of the White House Task Force on the Middle Class, embraced Mr. Obama's move.

"I think the intent of the rule change is to make sure that people working overtime are fairly treated," he said. "I think a potential side effect is that you may see more hiring in order to avoid overtime costs, which would be an awfully good thing right about now."

Mr. Bernstein, now a senior fellow at the Center for Budget and Policy Priorities, a liberal research group, and Mr. Eisenbrey wrote a paper last year urging the administration to raise the salary threshold for overtime to $984 a week. Their study estimated that in any given week, five million workers earning more than the current threshold of $455 a week and less than $1,000 a week are likely to be exempted from overtime. President Bush raised the threshold to $455 in 2004.

Originally posted here:

Obama seeks expansion of overtime pay

Zach Galifianakis brought the ferns, and President Barack Obama opened a new avenue of presidential communication.

The president urged young people to sign up for the new health care plan through an appearance posted Tuesday on the comic website Funny or Die, bypassing the news media and even previous favorites like TV talk show titans Jimmy Fallon and David Letterman. Instead, he chose to be a guest on Galifianakis' "Between Two Ferns," the digital short with a laser focus on reaching people ages 18 to 34.

The video reached 1 million views within three and a half hours of posting and was adding more at a pace of 1 million per hour in the middle of the day, according to Funny or Die. The website was briefly the number one source of referrals to Healthcare.gov, the Obama administration said, with some 19,000 people navigating directly from the video to the health care website in the first few hours.

"Gone are the days when your broadcasts or yours or yours can reach everybody that we need to reach," Obama press secretary Jay Carney said to broadcast journalists at the White House press briefing Tuesday.

With 4 million viewers, Obama exceeded in six hours the typical audience he would get by appearing on television shows hosted by Letterman, Fallon, Jimmy Kimmel, Seth Meyers, Jon Stewart or Stephen Colbert. That doesn't count the ancillary views clips of the interview aired repeatedly on CNN. And the video was a topic on Howard Stern's radio show. By nighttime, the video had more than 8 million viewers.

As hip as Fallon and Kimmel may be in some circles, their audiences skew older a median age of 52.7 for Fallon and 56.2 for Kimmel during the last week of February, the Nielsen company said.

For Web entertainment, it's a moment that rivals Emmy or Golden Globe nominations for Netflix's "House of Cards." And in presidential annals, it breaks form much like Richard Nixon did with his awkward jokes on television's "Rowan & Martin's Laugh-In."

In the clip, Galifianakis peppered Obama with awkward questions, including whether he'd locate his presidential library in Hawaii or Kenya.

"What's it like to be the last black president?" he asked.

"Seriously?" Obama said. "What's it like for this to be the last time you ever talk to a president?"

Continued here:

Obama Pitches His Health Care Plan on Funny or Die

Representatives for the attendees did not respond to requests for comment or declined.

Others at the fundraiser included Mayor Bill de Blasio, the city's first lady Chirlane McCray, and First Deputy Mayor Anthony Shorris.

(Read more: Goldman, SAC among de Blasio's Wall Street backers)

"There are some things I can't do by myself. Congress has the power of the purse. We cannot deal with infrastructure on the levels we need to without Congress," Obama said, according to remarks released by the White House on Wednesday morning. "I can do some things on immigration, but I cannot make sure that we have an immigration system that potentially could grow our economy by an extra trillion dollars without Congress' help."

"And so that's why all of you are here today. My argument is very simple: Tony is rightwe have all the cards we need for America to compete," he added.

"And when you travel outside this country, what's always remarkable to me is the degree to which people view us still with envy with respect to our economy. They marvel at our resiliency. They marvel at our dynamism. They marvel at low natural gas pricesthey really marvel at that. They marvel at the degree to which we can attract talent from around the world. They marvel at our university system, which is unmatched. But to realize all our potential that's sitting there right now, we've got to have a Washington that functions better."

The event was Obama's second of the evening. Hours earlier, he appeared at the home of venture capital investor Alan Patricof at a fundraiser for the Democratic National Committee. The Greycroft founder's event also cost a reported $32,400 to attend.

Obama's job approval fell to 41 percent in March from 43 percent in January, according to a new Wall Street Journal/NBC News poll. The rating marks a low for the president.

(Read more: Democrats more vulnerable ahead of elections: NBC/WSJ poll)

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Obama feels the Wall Street love at swanky event

President Obama is expected to call for a change to labor rules so that more workers get overtime.

NEW YORK (CNNMoney)

The administration will point out that some convenience store managers, fast food shift supervisors and office workers may be expected to work 50 or 60 hours a week without overtime, and that their hourly pay rate may actually be less than the $7.25 an hour minimum wage.

Currently, most hourly workers must be paid time-and-a-half if they work more than 40 hours a week. Most salaried workers do not need to be paid overtime, unless they earn less than $455 a week.

But that works out to $23,660 a year, which is less than the federal poverty level for a family of four.

The $455 threshold for overtime hasn't been raised in 10 years, since President Bush upped it from $250 a week. It would be $553 today if it had gone up in line with inflation.

The administration hasn't said where it wants to set the new threshold to require overtime.

Share your story: Do you often work more than 40 hours a week without overtime pay?

The Economic Policy Institute, a liberal think tank, recently proposed raising it to $970 a week, or $50,440 a year, so that anyone earning less than that must be paid overtime. EPI said that would only return the level to where it was in 1975, adjusted for inflation, and would raise the pay of 10 million salaried workers.

Related: Surprising near minimum wage jobs

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Obama wants to expand overtime pay