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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Jan 14, 2009
Page
9
President-elect Barack Obama urged Democrats in Congress to approve an additional 350 billion in federal bailout funds and veto attempts to block the money. He promised to revise the program to curb criticism and direct billions to homeowners facing foreclosure as Senate votes loom.
President elect Barack Obama nominates Peter Orszag to head the Office of Management and Budget. He warns deficits may run at about 5 percent of GDP for five to ten years, with $750 billion or more, rising toward $1 trillion by 2010s end. He cites health care sector costs, Medicare and Medicaid as key drivers. Bernanke says the stimulus could lift the economy but urges broader financial reforms.
The Illinois Senate will be sworn in Wednesday as the impeachment trial of Gov. Rod Blagojevich looms. Blagojevich, impeached by the House and arrested on federal charges, could preside briefly over the chamber as it opens a new session before the January 26 trial.
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