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...Washington Richardson Bows Out President-elect Barack Obama's pick for Commerce Secretary, New Mexico Governor Bill Richardson, withdrew his name from consideration amid a grand-jury investigation into state contracts awarded to a political contributor. While the governor headed back to the statehouse, Obama's team scrambled to fill other crucial posts...

Author: /time Magazine | Title: The World | 1/8/2009 | See Source »

...believe the agency is best served by having an intelligence professional in charge.' DIANNE FEINSTEIN, head of the Senate Intelligence Committee, questioning President-elect Barack Obama for choosing former White House chief of staff Leon Panetta to head...

Author: /time Magazine | Title: Verbatim | 1/8/2009 | See Source »

Harvard Law School professor Cass R. Sunstein ’75 will lead President-elect Barack Obama’s efforts to reform government regulation and the regulatory process, according to media reports...

Author: By Elias J. Groll, CRIMSON STAFF WRITER | Title: Sunstein To Join Obama In D.C. | 1/8/2009 | See Source »

President-elect Barack Obama's challenge will be twofold: to capture the potential benefits of a new age of government activism, while still protecting the country's long-term fiscal health. On Jan. 6, Obama warned that the cost of a major stimulus package and the continued effort to bail out the financial system could result in years of "trillion-dollar deficits." Deficit spending is needed to help revive the economy from recession, but trillion-dollar deficits for years to come would sink us in debt and risk a collapse of the currency. We need a sensible strategy that deals...

Author: /time Magazine | Title: The Case for Bigger Government | 1/8/2009 | See Source »

President-elect Obama inherits the worst economic crisis since the Great Depression: the financial sector is in ruins; the budget is hemorrhaging red ink; debt-ridden households have clamped down on spending, thereby pulling the rug out from under the economy; unemployment is soaring; the country is in two wars; and the unmet social and environmental needs are vast. These conditions demand a fundamental realignment in strategy that ultimately comes back to taxation: Will we pay for the government we need? Obama's big domestic program, the American Recovery and Reinvestment Plan, proposes doubling renewable-energy production and making public...

Author: /time Magazine | Title: The Case for Bigger Government | 1/8/2009 | See Source »

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