Obama today introduced his economic team to the nation, praising each one with superlatives. Obama called on the new Congress to act quickly in passing a costly stimulus package to create jobs as a follow-up to the hundreds of billions of dollars the Bush administration has committed to rescue financial markets.He said once he sees a plan, he expects "we're going to be able to shape a rescue."
Obama declined to say how large a stimulus package he wants from Congress. Democratic lawmakers speculated over the weekend that the price tag could reach $700 billion over two years as the nation struggles to emerge from a recession compounded by a credit crunch. "It's going to be costly," the president-elect said. Obama made his comments as he unveiled the top members of his economic team, beginning with New York Federal Reserve President Timothy Geithner to be his Treasury Secretary. Geithner, 47, is a veteran of financial crises at home and overseas and has worked closely with the Bush administration in recent months. Obama chose Lawrence Summers as director of his National Economic Council. Summers was treasury secretary under former President Bill Clinton.
Obama also said his newly minted economic team offered "sound judgment and fresh thinking" at a time of economic peril. He expressed confidence the nation would weather the crisis "because we've done it before." Obama also announced two other members of his economic team in the making. He named Christina Romer as chair of his Council of Economic Advisers, and Melody Barnes as director of his White House Domestic Policy Council.
Yahoo! News:
Obama: "The economy is likely to get worse before it gets better."
At the AMERICAN MUSIC AWARDS last night...
And the winner is...Boring! I've never been bored! I am missing the old days when Whitney Houston, Toni Braxton, Mariah Carey, Celine Dion, and Brandy, plucked the mike of its stand and sang their butts off like there was no tomorrow. Last night's show was truly uninspiring...except for Christina's opening, Beyonce (much talked about "Single Ladies"), Alicia and the Queen and a surprise guest (the soprano), Sarah and Pink singing together. There were no big upsets and no truly jaw-dropping performances. Thank God we still can count on Mariah, Christina, Beyonce, Pink and Alicia.
Obama declined to say how large a stimulus package he wants from Congress. Democratic lawmakers speculated over the weekend that the price tag could reach $700 billion over two years as the nation struggles to emerge from a recession compounded by a credit crunch. "It's going to be costly," the president-elect said. Obama made his comments as he unveiled the top members of his economic team, beginning with New York Federal Reserve President Timothy Geithner to be his Treasury Secretary. Geithner, 47, is a veteran of financial crises at home and overseas and has worked closely with the Bush administration in recent months. Obama chose Lawrence Summers as director of his National Economic Council. Summers was treasury secretary under former President Bill Clinton.
Obama also said his newly minted economic team offered "sound judgment and fresh thinking" at a time of economic peril. He expressed confidence the nation would weather the crisis "because we've done it before." Obama also announced two other members of his economic team in the making. He named Christina Romer as chair of his Council of Economic Advisers, and Melody Barnes as director of his White House Domestic Policy Council.
Yahoo! News:
Obama: "The economy is likely to get worse before it gets better."
At the AMERICAN MUSIC AWARDS last night...
And the winner is...Boring! I've never been bored! I am missing the old days when Whitney Houston, Toni Braxton, Mariah Carey, Celine Dion, and Brandy, plucked the mike of its stand and sang their butts off like there was no tomorrow. Last night's show was truly uninspiring...except for Christina's opening, Beyonce (much talked about "Single Ladies"), Alicia and the Queen and a surprise guest (the soprano), Sarah and Pink singing together. There were no big upsets and no truly jaw-dropping performances. Thank God we still can count on Mariah, Christina, Beyonce, Pink and Alicia.
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