(CNN) - Two sources close to the transition tell CNN that on Tuesday, President-elect Barack Obama will officially unveil Peter Orszag as his nominee for director of the Office of Management and Budget at a press conference in Chicago.
Obama hinted at this at an event Monday, when he suggested his Tuesday event would focus on finding cuts in the federal budget to help dig the nation out of the fiscal crisis.
“Full recovery will not happen immediately,” Obama told reporters. “And to make the investments we need, we’ll have to scour our federal budget, line by line, and make meaningful cuts and sacrifices as well, something I will be discussing further tomorrow."
(Updated 6:25 p.m.: Bill Richardson is still on track to be named Commerce Secretary, but not Tuesday.)
WASHINGTON (CNN) – A House Democratic aide told CNN Monday that if the Obama administration hopes to get an economic stimulus package through the House in January then they will have to "put a lot more meat on it" and "get people in and justify it."
The aide also said there have not been detailed discussions yet on details between the Obama team and the Hill: "They have been pretty light on their conversations with us about specifics,” says the source. “They take very seriously the notion of only one president at a time."
Given all the elements Obama is looking for in a major stimulus program, there are a lot of committees involved: Appropriations, Ways and Means, Financial Services, Transportation and Infrastructure. If the president-elect wants to have legislation on his desk when he takes office January 20, said this aide, "they need to get going on that right away."
Another House Democratic leadership aide told CNN there have been discussions about the components of a stimulus package, but no decisions or specific talks about the number or how much each element would cost: "we don't have a final number yet," said the source, who added that House Democratic leadership is looking at "several hundred billion dollars. The problem is serious enough that we need it to be big and bold."
(CNN) – Vice President-elect Joe Biden’s former chief of staff, Ted Kaufman, will fill his seat in the Senate, Delaware Gov. Ruth Minner announced Monday.
“His political views are close to Senator Biden’s, and he doesn’t need any on-the-job training,” Minner said in a statement. “He’ll be an effective Senator for Delaware from day one.”
The announcement was made amid rumors that Biden’s son, Beau, would take his father’s place in the Senate. But the Delaware attorney general, who has deployed to Iraq as a captain in the National Guard, said last week that he wouldn’t take the appointment if offered.
(CNN) - The notion of President-elect Barack Obama creating a team of former rivals to be in his Cabinet has attracted a lot of attention, especially with news that Sen. Hillary Clinton reportedly is on track to be secretary of state.
CNN's Joe Johns talked with David Frum, a former speechwriter for President Bush, on Monday about the possibility of Clinton as well as a Republican serving in the new administration's Cabinet.
Watch: Obama foreign policy team could include some heavy hitters
CNN: And I guess a lot of people are wondering right now about Hillary Clinton. What do you see in this thing? What does it mean to have Hillary Clinton as the secretary of state? How will she end up there?
David Frum: Well, it means that Hillary Clinton has just moved from having an independent power base in the Senate to being in effect an employee of Barack Obama. And not just any employee, but one who has had to open her files to Barack Obama.
Just imagine the scene of the Obama people going through the Clinton files and saying, "Wow, this could be embarrassing if anybody ever found out about it. Don't worry, it's safe with us."
(CNN) - Election Day was three weeks ago, but political ads praising former Republican VP nominee Sarah Palin are still hitting the airwaves.
The Our Country Deserves Better PAC has begun running spots in Alaska - two 60-second ads, and two 30-second versions — that pay tribute to Palin, with plans to expand the ad buy to the rest of the country sometime this week.
"Governor Palin inspired millions of Americans by fighting for common sense conservative principles in a positive and uplifting manner," chief strategist Sal Russo said in a statement. "I worked with President Ronald Reagan since his first days in the California Governor’s Office, and I can tell you that I see so many similarities between President Reagan and Governor Palin."
The 60-second Thanksgiving-themed spot — which comes days after footage of a Palin interview on a turkey farm hit the airwaves — also points to the Alaska governor's fondness for moose chili as a turkey alternative.
The PAC - which sponsored the "Stop Obama Now" bus tour during the campaign season - said it plans to spend at least $50,000 airing the ads in Alaska. It has not yet released details of the ad buy on national broadcast and cable networks.
There are stimulus packages and there are stimulus packages. Remember the one President Bush, House Speaker Pelosi and Senate Majority Leader Reid collaborated on a while back? It was $168 billion and resulted in a few hundred dollars in most people’s pockets. It did it’s job, gave a short term jolt to the economy, but it’s effects are long since gone. And the economy is a whole lot worse now than it was then.
Stand by for “Stimulus Two!” Congressional Democrats say they will have a stimulus package ready for Barack Obama to sign the day he is inaugurated.
To read more and contribute to the Cafferty File discussion click here
(CNN) – If the Republican Party wants to get back on track, former presidential candidate Mike Huckabee says GOP leaders must first restore voters' confidence in the government.
"People will forgive you for being a little left or a little right, but they won't forgive you for not taking them up instead of down," he told CNN in between appearances on his 56-city tour to promote his new book, "Do the Right Thing: Inside the Movement That's Bringing Common Sense Back to America."
Huckabee said Republicans have lost their reputation as people who believe in curtailing spending and attempting to balance the budget and have a new label: the "budget busters," who spend more than they can pay back while priding themselves on not raising taxes.
Watch a post-campaign Huckabee on the road
"But it's not that they do it by curbing spending, they just kick the can down the road and put the burden on our grandchildren," he said, adding that he considers it "morally wrong" to indebt future generations.
Following big losses in the 2008 elections, the former Arkansas governor is urging Republican leaders to get back to the party's core values and "govern well" if they hope to win back the trust of voters.
Those in office, he said, "have to show that they are competent to lead," whether at the governors' level or city council. That way, Republicans can point to those people as examples to justify why they should be given a chance in the future.
Related: I'm not settling scores, says Huckabee
"If we don't live up to our own principles, then we can hardly criticize the other party for not living up to our principles either," he said.
WASHINGTON (CNN) - When the phone rings at 3 a.m. in the White House during a crisis, President Barack Obama won't lack for advice. But the question may be whose advice will be the loudest?
Obama's potential national security team looks like an all-star lineup: Sen. Hillary Clinton is on track, sources say, to be secretary of state; Defense Secretary Robert Gates may stay on; and retired Gen. Jim Jones is a leading candidate for national security adviser.
And according to The New York Times, retired Adm. Dennis Blair may be named as director of national intelligence. He did a tour of duty at the CIA, and his expertise is clandestine military operations.
Observers may wonder if so much high-power talent can get along.
"Are there downsides? Sure. When you have people with this much stature, there can be ego clashes," said CNN contributor David Gergen. "Everybody's ego has got to get into the same room ... and in at least one or two of those cases, I'm sure people think that their egos are big enough to fill the room all by themselves."
Clinton has applauded Gates' candor, but early on put him on notice.
"We need a strong secretary of defense - but that doesn't mean strong-headed," Clinton said during Gates' confirmation hearings in 2006.
Watch the debate over Clinton's foreign policy experience
NEW YORK (CNNMoney.com) – President-elect Barack Obama named key members of his administration's economic team Monday, including New York Federal Reserve President Timothy Geithner as his Treasury Secretary nominee and former Harvard President Lawrence Summers as the director of the National Economic Council.
Obama's announcement was scheduled just hours after the federal government announced a massive rescue package for Citigroup – which President Bush said he'd spoken with Obama about before it was announced.
Mission No. 1 over the next few weeks for Obama's economic team will be hammering out the details of what the president-elect described this weekend as a two-year economic recovery plan intended to create 2.5 million jobs.
(CNN) – President-elect Barack Obama is announcing his economic team in Chicago.
(Update: This event has concluded)
Watch the event on CNN.com/live