President Barack Obama plans to reappoint Ben Bernanke to a second term as chairman of the Federal Reserve, a position from which he guided the economy away from its worst recession since the 1930s and, the White House hopes, toward an economic recovery critical to its legacy.
Widely credited with taking aggressive action to avert an economic catastrophe after the financial meltdown last year, Bernanke will be nominated for another term as the helm of the central bank on Tuesday. Obama plans to make the announcement on Martha's Vineyard, the Massachusetts island where he is vacationing for the week with his family.
Ironically, the President who promised a government free of control and manipulation by lobbyists is producing a health care "reform" bill that will bring huge financial rewards for the health care industry, thanks to back door deals cut by lobbyists.
In other words, the lobbyists won by cutting enough deals with the White House and Congress to assure a financial reward under the guise of reform.
One health insurance executive calls it "a bonanza." Health care lobbyists smile and say they played the Obama White House because they know how Washington works and he doesn't and while the President promises a different style in Washington, the laws are still made by Congress, an institution controlled by the lobbying industry.
President Barack Obama still may push through an overhaul of the American health care system, but political indicators point to a needed overhaul of his own tactics for selling reform.
Barely eight months in office, Obama is trapped between the jaws of a tightening vise. On one side, Republicans refuse to countenance further government involvement in health care; on the other, liberal Democrats insist Obama keep his campaign pledge to make sure the estimated 50 million Americans who are without coverage can afford health insurance.
President Barack Obama has approved the creation of an elite team of interrogators to question key terrorism suspects, The Washington Post reported Monday.
Citing unnamed senior administration officials, the newspaper said the decision was part of a broader effort to revamp US policy on detention and interrogation.
Obama signed off on the unit, named the High-Value Detainee Interrogation Group (HIG) late last week, the report said.
It will be made up of experts from several intelligence and law enforcement agencies and housed at the FBI, the paper noted.
His healthcare reform plan is stumbling, the economy is still sputtering and violence is up in Iraq and Afghanistan. Who would not want a break?
President Barack Obama is officially taking one next week when he heads to Martha's Vineyard. But a long "to do" list -- two wars, worldwide recession and a host of legislative battles in store when he gets back, most notably the struggle over reforming the U.S. health system -- will make it hard for him to relax and disconnect.
President Barack Obama hammered away at "outrageous myths" about his healthcare reform plans on Saturday, seeking again to take control of a debate that has tarnished support for his top domestic policy goal.
Obama has tried for weeks to clamp down on criticism and misinformation about his healthcare plans and used his weekly radio and Internet address to address them.
"Today, I want to spend a few minutes debunking some of the more outrageous myths circulating on the Internet, on cable TV, and repeated at some town halls across this country," he said in the address.
"Let's start with the false claim that illegal immigrants will get health insurance under reform. That's not true.
As controversy continues to swirl around health care reform, the American public is losing confidence in President Brack Obama's leadership.
A new Washington Post/ABC news poll shows confidence in Obama's abilities have slipped 11 points, down to 49 percent from a high of 60 at the end of his first 100 days in office.
Even more troubling to the administration is the finding that a clear majority of Americans -- 55 percent -- now feel the nation is on the wrong track.
The government's "Cash for Clunkers" program, often described as an experiment, proved one thing: The American people are no fools. Offer them free money -- $3,500 to $4,500 to go out and buy a car -- and they'll take it.
The Obama administration plans to end the program Monday night, but it would have ended soon anyway because (a) the $3 billion set aside for it will soon run out and (b) dealers are dropping out of the program because the government hasn't paid them.
If ObamaCare were a prescription drug, ads for it would say: "Use with extreme caution. Side effects include regulatory headaches, irritated taxpayers, and swollen unemployment."
That's right. Serious studies indicate that ObamaCare would kill millions of jobs. With 9.4 percent unemployment, this is hardly the time to foul up the labor market even further.
The culprit is ObamaCare's proposed tax burden on employers with payrolls exceeding $250,000.:
The federal budget picture will look slightly better next week. Relatively speaking.
The White House plans to announce the federal deficit will still be a record breaker, at $1.58 trillion, for the current 2009 fiscal year. But the amount is about $262 billion less than officials predicted earlier this year.
That's mostly because the administration erased a $250 billion contingency fund it had penciled into the budget in case Wall Street needed more government help in getting out of the financial crisis.