The charges, which range from improper appropriations and “pay to play” to seeking financial gain from filling Barrack Obama’s now vacant US Senate seat, are numerous.

Blagojevich, a Democrat, was first elected in 2002, and is currently serving his second term as governor.

Post from: EveryJoe

One Vote that may no longer Matter: Illinois Governor Arrested.

The Economy –

As was announced last week (not to anyone’s surprise), the US economy has entered into a recession. “Recession” has a very simple definition: a decline in gross domestic product or negative real economic growth for 2 or more consecutive quarters.

So many different “indicators” can lead to and result from the “downturn” – one major concern for President-Elect Obama’s administration will be the continuing rise in unemployment. Due to the credit crisis, many businesses are unable to secure the funds to grow and/or sustain until the economy “rebounds.”

This week, the US Labor Department reported that over 500,000 jobs were lost in November. This is the largest monthly drop in jobs since 1974.

Post from: EveryJoe

Economic Outlook Continues to Darken.

Clinton has been touted as a choice who can “hit the ground running” as she has a substantial knowledge of foreign affairs and is a respected envoy.

Assuming that she will be approved by the Senate (each cabinet member will be questioned by and voted upon by the Senate, following the inauguration), Clinton will relinquish her New York Senate seat. She has served in the Senate since 2001.

By nominating Clinton, Obama is staying true to his pledge to staff his cabinet with diverse and possibly antagonistic parties. The Senators did not see eye to eye on many issues over the campaign – and it will be interesting how Secretary Clinton approaches the task of representing the administration abroad.

Also on Monday, Obama confirmed that Defense Secretary, Robert Gates, will continue in that post in the new administration.

Post from: EveryJoe

Obama nominates Hillary Clinton for Secretary of State

And this isn’t a new development either – the US economy has, according to the National Bureau of Economic Research, been in a recession since December, 2007.

The categorization is based on economic factors such as personal income, employment, production and sales – all of which have been “down” in the past 12 months.

One year – while our elected and appointed officials have been loathe to use the “R word” – it’s been clear, to most observers, that the US economy has been on a down turn.

Historical data suggests that the current recession has lasted “longer” than past down turns.

But if we’re just now hearing about it – does it really count? Wouldn’t it have been nicer if they could have announced that we had a recession – but it’s over now?

Post from: EveryJoe

No matter what the politicians may say or spin…

He announced the creation of an Economic Recovery Advisory Board. Obama intends to fill the board with the nation’s top economic strategists and policy people. Paul Volcker, a former chairman of the Federal Reserve, will lead the board and Austan Goolsbee, one of Obama’s advisors, will serve as chief economist.

The board will, presumably, assist Obama as he reviews the current budget and workings of the government as he prepares his budget and outlook for his administration.

Post from: EveryJoe

Obama announces “Economic Recovery Advisory Board”.

Many “big” and interesting names have been in the media for the “top” offices. But, of course, nothing will be official or final until Barack Obama is sworn in as President in January and his nominations are sent to the US Senate for “advice and consent.” Over the years this process has proven tricky for many new Presidents – but it appears that the Obama team is taking special care in their selection process and with a pronounced Democratic advantage in the new Senate, Obama should not have much trouble, barring any unforeseen events, getting approval for his nominations.

The President-Elect started off his new “team” by naming Illinois Congressman, Rahm Emanuel, as his White House Chief of Staff. Emanuel is a politics “lifer” having worked on campaigns and in the Democratic Party since the early 1980s. He was a key strategist in the (Bill) Clinton Presidential campaign and he served as a senior advisor in the Clinton White House. In 2002 (after a brief stint in the banking industry), Emanuel ran for and won the House seat for Illinois’ 5th district. He has since been a powerful member of Congress and has served as the Democratic Caucus Chairman since 2006.

Post from: EveryJoe

On the High Stakes Playground – Obama picks his team.

Kaufman, a long time Biden aide and staffer, has recently been acting as a member of the Obama-Biden “transition” team.

With Joe Biden vacating his seat there had been much speculation that Biden’s son, Beau, might be chosen to fill the spot. However, Beau Biden is currently serving in Iraq with his National Guard unit and he announced last week that he would not accept such an appointment.

Post from: EveryJoe

Delaware’s New Senator: Ted Kaufman

Post from: EveryJoe

Not for the faint of heart – or vegetarians

In a hearing before the Senate Banking, Housing and Urban Affairs Committee, representatives from General Motors, Ford and Chrysler testified that without government aid, their companies may have to file for bankruptcy.

General Motors is the company in the most dire straights. They announced on Monday that they will be delaying payments (general reimbursements for buyer incentives) to dealers in December. This comes in the wake of GM’s November 7th announcement that they may not have enough “cash” to pay for the day-to-day operations of the company – a situation that could force the company into bankruptcy.

A big difference in this economy for companies facing bankruptcy is the freeze of the credit market. In the past companies that filed under Chapter 11 were able to continue doing business because they could run on credit – the failures in the banking industry make it more and more difficult (if not impossible) for failing businesses to get loans.

This is just one reason why the auto execs are asking Congress to earmark $25 billion of the banking industry bailout for loans to their industry.

Post from: EveryJoe

Auto industry execs plea for bailout…

Indiana

Louisiana

North Carolina

North Dakota

Minnesota

Missouri

Ohio

Arizona

Oregon

New York

South Carolina

New Hampshire

Post from: EveryJoe

Election Results – State by State – Part 4