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Obama pledges to help states weather recession

CHICAGO, Dec. 2, 2008 (Reuters) — President-elect Barack Obama pledged on Tuesday to help state governors cope with a deepening recession and asked for their help in crafting a huge stimulus package to create jobs and tackle the crumbling economy. ...  > full story

Obama to hold another news conference Wednesday

WASHINGTON, Dec. 2, 2008 (Reuters) — President-elect Barack Obama will hold a news conference at 1140 EST/1640 GMT on Wednesday, his fifth since he began naming nominees for his cabinet. ...  > full story

Schwarzenegger calls new special budget session

SAN FRANCISCO, Dec. 1, 2008 (Reuters) — California Gov. Arnold Schwarzenegger declared a fiscal emergency on Monday to call lawmakers into a special session to focus on a swelling state budget gap just days after another special session failed to close the shortfall. ...  > full story

Obama adviser warns U.S. recession may be worsening

CHICAGO, Dec. 1, 2008 (Reuters) — A senior adviser to U.S. President-elect Barack Obama said on Monday the news that the United States has been in a recession for a year underscored the need for an economic stimulus package. ...  > full story

States look for Obama to help in economic downturn

PHILADELPHIA, Dec. 1, 2008 (Reuters) — State governors preparing to meet President-elect Barack Obama will ask for $136 billion in infrastructure funds to stimulate the economy immediately, Pennsylvania's governor said on Monday. ...  > full story

Bush calls flawed Iraq intelligence biggest regret

WASHINGTON, Dec. 1, 2008 (Reuters) — President George W. Bush said the biggest regret of his presidency was flawed intelligence that Iraq had weapons of mass destruction and told ABC "World News" in an interview airing on Monday that he was unprepared for war when he took office. ...  > full story

Obama picks Volcker as economy adviser

CHICAGO, Nov. 27, 2008 (Reuters) — U.S. President-elect Barack Obama on Wednesday named former Federal Reserve Chairman Paul Volcker to chair a new panel to advise him how to stabilize financial markets and navigate a potentially painful recession. ...  > full story

Treasury consulting Obama team on credit plans

WASHINGTON, Nov. 26, 2008 (Reuters) — The U.S. government will need a variety of programs to deal with troubled credit markets and is open to feedback from the incoming Obama administration in developing them, a senior U.S. Treasury official said on Wednesday. ...  > full story

U.S. will not balance budget by 2012: White House

WASHINGTON, Nov. 26, 2008 (Reuters) — The U.S. government will not reach its goal of balancing the federal budget by 2012 because of the response to the global financial crisis, the White House said on Wednesday. ...  > full story

Gates to stay as U.S. defense secretary: report

WASHINGTON, Nov. 25, 2008 (Reuters) — President-elect Barack Obama moved closer to assembling his national security team on Tuesday, with sources saying Robert Gates would likely keep his job as defense secretary and retired Marine Gen. James Jones be named national security adviser. ...  > full story
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