The First Draft: Wednesday, Nov. 26
The economic crisis clearly has some folks feeling a little Grinch-like as the holiday season approaches.
President-elect Barack Obama, for one.
He told ABC’s “Good Morning America” that bankers should forego their bonuses this year.
“That’s an example of taking responsibility,” he said.
Not only that, daughters Malia and Sasha are going to have to make their beds and do other chores when they move into the White House.
“They have to learn these things,” Michelle Obama said.
The networks also report Barbara Bush, the 83-year-old former first lady, spent the night in the hospital after suffering from stomach pains.
The hospital stay was precautionary, officials say. Bush, the mother of President George W. Bush, is expected to be released sometime Wednesday.
President Bush will pardon the National Thanksgiving Turkey at the White House before heading off to Camp David for the holiday.
Upstaging the president and the turkey, Obama will make an economic announcment at 10:45 a.m.
He will name former Federal Reserve Chairman Paul Volcker to chair a panel to advise him on measures to stabilize financial markets and maneuver the country out of a recession, aides say.
Obama also is reportedly close to asking Roberts Gates to stay on as defense secretary. Many of Gates’ deputies would be replaced under the deal, The Washington Post said.
Newspapers mainly led with the government’s plan for $800 billion in new lending programs to ease the lending crisis and make it easier for consumers to get loans for homes, cars and education.
Despite new moves by Washington, China and Europe to stimulate the economy, markets overseas were struggling Wednesday and U.S. stock futures pointed to a lower opening on Wall Street.
For more Reuters political news, click here.
Photo credit: Reuters/Jim Young (Obama and Volcker at a Florida event Oct. 21)