Obama to name new economic team Friday

WASHINGTON (Reuters) – President Barack Obama will announce on Friday whom he has picked to replace Larry Summers as his top economic adviser, with Gene Sperling seen as the front runner to take this influential White House role. Read the full story from Reuters

Cuomo says New York in crisis, rules out tax hikes

ALBANY, New York (Reuters) – Democratic Governor Andrew Cuomo declared the state of New York in crisis on Wednesday, proposing solutions long championed by Republicans to control a soaring budget deficit, overhaul Medicaid and reform a dysfunctional government. Read the full story from Reuters

Republicans take over House, soften cuts

WASHINGTON (Reuters) – Republicans took power in the House of Representatives on Wednesday with promises of a leaner, more accountable government but softened a pledge of deep and immediate spending cuts that helped them win November’s election. Read the full story from Reuters

Republicans Lower Goal for Cuts to Budget

House Republican leaders are scaling back a goal to cut $100 billion from domestic spending, aides say, because the fiscal year will be nearly half over before the cuts could become law. Read the full story from The New York Times.

Obama’s press spokesman Robert Gibbs to leave

WASHINGTON (Reuters) – White House press secretary Robert Gibbs, one of President Barack Obama’s closest aides, said on Wednesday he will resign and become an outside adviser for Obama’s re-election campaign in a major staff shake-up. Read the full story from Reuters

Reconsider health repeal, officials urge Boehner

WASHINGTON (Reuters) – The Obama administration warned House Republicans on Wednesday that any move to repeal the sweeping healthcare overhaul passed last year would erase critical consumer protections and set the nation back on course toward skyrocketing health costs. Read the full story from Reuters