Prez Obama to Work With Key Bush Holdovers

Bigger deficits are worth the benefits, Fed chair tells Congress

(NEWSER) - Ben Bernanke supported the Obama administration’s economic policy before Congress today, the Wall Street Journal reports. The $787 billion stimulus bill should boost “demand and production” and soften job losses over the next 2 years, the Federal Reserve chief told the Senate Budget Committee. The expansion of government debt required by the stimulus is “unavoidable” Bernanke said, given the consequences of inaction. More»

Blunders show new administration to be quite ordinary, blogger writes

(NEWSER) - News coverage has so far given the impression that Barack Obama’s transition is one of the smoothest, best-executed in history. But with a number of recent blunders grabbing headlines, the administration’s image is coming back down to earth, writes Ed Morrissey for Hot Air. “Most transitions feel embarrassed by one high-profile withdrawal,” Morrissey writes “but Obama’s had three: Daschle, Killefer, and Bill Richardson.” More»

Prez-elect's process a combo of 'discipline' and 'curiosity'

(NEWSER) - Barack Obama’s transition into the presidency has provided a window onto how he’ll operate as president, writes Peter Baker in the New York Times. Despite major challenges ahead, he has been “a font of cool confidence” throughout. But he’s “hard to label”—while he’s shown a bipartisan style, he’s also pushing for massive government expansion; and while he’s reached out for advice, he’s also centralizing decision-making in the White House. More»

(NEWSER) - The Wall Street bailout has not failed, but it hasn’t worked yet, either, as evidenced by the renewed call from Barack Obama and the Fed to release more TARP funds, the New York Times reports. Banks that received bailout funds are clamoring for more to stabilize their finances, but the current administration and the incoming one are at odds over how to spend taxpayer money. More»

Groups modernize process of sorting resumes

(NEWSER) - Special interest groups eager to cement plum spots in the Obama administration are using private websites and online databases to angle for positions, Politico reports. Instead of tossing their résumés onto the pile at Change.gov, savvy applicants are casting their lots with these groups, which pore over the resumes and pitch the cream of the crop. There’s no sign it’ll work, but in a field of 320,000 applicants, any edge helps. More»