Tales from the Trail

The First Draft: Monday, Dec 1

December 1, 2008

With the images of death and destruction in Mumbai last week fresh in everyone’s minds, U.S. President-elect Barack Obama is set on Monday to name his national security team
 
At a 10:40 EST (1540 GMT) news conference in Chicago, Obama is expected to name former rival Hillary Clinton as his secretary of state and nominate Defense Secretary Robert Gates to stay on in that role. In addition he is expected to name Arizona Gov. Janet Napolitano as homeland security secretary, Eric Holder as attorney general and adviser Susan Rice as ambassador to the United Nations.
    
After a series of three straight news conferences last week focused on the ailing U.S. economy, Obama will switch gears today as he will likely face questions about India and Pakistan and his proposed policies toward the two nuclear-armed nations.     
    
U.S. Secretary of State Condoleezza Rice will travel to India on Wednesday. She has been in contact with the foreign ministers of India and Pakistan in recent days to ease tensions between the states.

The First Draft: Monday, Nov. 17

November 17, 2008

The Senate returns to debate a bailout for struggling automakers and consider additional stimulus money to prop up the struggling economy.
    
Democrats hope to pass both measures in their brief “lame duck” session, but they face opposition from Republicans in the chamber as well as President George W. Bush, who reiterated on Monday morning that any Detroit aid should come from the $700 billion already appropriated to prop up the economy.
    
In Chicago, President-elect Barack Obama will meet at noon EST with John McCain, his recent rival for the White House.  “It’s well known that they share an important belief that Americans want and deserve a more effective and efficient government, and will discuss ways to work together to make that a reality,” Obama’s transition team said on Monday. 
    
Obama and McCain will be joined by their two favorite wingmen — future White House chief of staff Rahm Emanuel and South Carolina Sen. Lindsey Graham, respectively.
    
McCain might put in a good word for New York Sen. Hillary Clinton, who is reported to be on Obama’s short list for Secretary of State. McCain and Clinton downed vodka shots together on a trip to Estonia a few years back.
    
 Back in the Senate, the Finance Committee will cross-examine the man who has been nominated to oversee the $700 billion bailout program. Neil Barofsky, the assistant U.S. attorney in the Southern District of New York who has been nominated to be Special Inspector General of the Treasury Department’s Troubled Assets Relief Program, testifies at 2 p.m.
    
The House is not in session, but new members elected two weeks ago are in town for an orientation session and a class photo. House Democratic leaders say they will quickly pass any bailout packages that clear the Senate.
    
U.S. stocks are expected to open lower as investors continue to fear a deep and lengthy global recession. According to one group of economists, we’re already there: real GDP is expected to fall 2.6 percent in the final quarter of this year and 1.3 percent in the first three months of 2009, according to a survey of 50 professional forecasters conducted by the National Association of Business Economists.