The names have already been leaked, but President-elect Barack Obama is set to announce formally his choices for more than a third of the cabinet as well as his national security team. Senator Hilary Clinton is expected to be nominated as secretary
President-elect Barack Obama has named his top national security team, Senator Hilary Clinton as Secretary of State, Robert Gates, the current Secretary of Defense to stay on and retired Marine General James Jones as National Security Advisor. NPR P
President-elect Barack Obama told state governors today upon his swearing-in he will be willing to help them come up with ways to create jobs and deal with declining revenues. At a meeting of the National Governors Association in Philadelphia, Mr. O
The CEOs of the Big Three domestic automakers were back on Capitol Hill today, pushing for a financial aid package. The Chairman of the Senate Banking Committee indicated he is favoring a federal bailout for Detroit's Big Three. NPR's Giles Snyder r
The news the economy lost more than half a million jobs last month, the worst one-month drop in 34 years from many economists, confirms the current recession could be longer and deeper than first thought. The government also revised downwards to the
President-elect Barack Obama says his administration will undertake the largest public works program since the building of the interstate highway system back in the 1950s. The goal is to create millions of new jobs and bolster the sagging U.S. econo
Democratic Congressional leaders and White House officials have been conferring again today as they work out final details of a plan to offer emergency short-term federal loans to struggling US automakers. Democratic Senator Carl Lewin of Michigan s
President Bush today said any plan designed to bail out the nation's domestic automakers must be examined to ensure they can survive over the long term and the taxpayer dollars get paid back. In an interview with ABC, Mr. Bush says all aspects of th
Illinois Governor Rod Blagojevich has been released on his own recognizance following his arrest today by federal officials on charges he sought to sell the Senate seat vacated by President-elect Barack Obama. Blagojevich is also accused of a number
A proposed 14-billion-dollar financial rescue bill for the ailing domestic auto industry may itself be in need of some help if the debate in the House has anything to go by. Virginia Republican Allen Kantar says having the government take on increas
The White House says it's exploring new options to save the auto industry after a 14-billion-dollar bailout bill collapsed in the Senate yesterday. Congressional Democrats want the Bush Administration to act quickly. NPR's Debbi Elliot reports. Whit
Utility crews have been working around the clock to restore power to the more than 800, 000 homes and businesses still without power after a severe ice storm ripped across the northeastern states, just getting to downed power lines is proving diffic
President Bush made his fourth and final trip to Iraq today before leaving office. He defended his decision to order the US-led invasion and he met with the American troops. But his news conference in Baghdad was interrupted when an Iraqi man threw
From NPR News in Washington, I'm Jack Speer. President-elect Barack Obama is again saying there is no indication from a review by his own lawyers that shows he had any direct contact with disgraced Illinois Governor Rod Blagojevich. Speaking in Chic
Giant Bank of America is the latest financial firm to announce major job cuts. The Charlotte-based bank which is in the process of merging with Merrill Lynch, said today it plans to cut 30, 000 to 35, 000 jobs over the next three years. Tony Plath i
President-elect Barack Obama says he is glad to see the Big Three automakers put forward more serious plans for restructuring, though he says he will withhold judgment on those plans until after auto executives appear at Congressional hearings. NPR'
The Federal Reserve slashed a key bank lending rate to just about zero today. The move establishes the federal funds target rate between 0 and 0.25%. The rate cut is an effort to spur the economy. NPR's Wendy Kaufman has more. The action by the Fed
The Illinois Supreme Court has refused to hear a challenge that questioned the fitness of Illinois Governor Rod Blagojevich to hold office since he faces federal corruption charges. NPR's Cheryl Corley reports. The state's attorney general had filed
Speaking as he unveiled his choice to head the Security and Exchange Commission today, President-elect Barack Obama said not just regulators but his administration needs to push for more transparency in the financial markets. Obama made his remarks
The Bush administration today announced a more than 17-billion-dollar rescue plan for troubled Detroit automakers Chrysler and GM. NPR's Chris Arnold reports. President Bush said that under ordinary circumstances he would have let the automakers fai