Politics & Government

November 25, 2008 3:55 PM

Obama names budget chief as staggering deficits loom

Facing a first-year deficit that could approach a staggering $2 trillion, President-elect Barack Obama vowed Tuesday to cut out wasteful spending wherever he finds it but insisted that the scope of the economic crisis demands an extraordinary — and expensive — response.

Related content

Comments

Videos

Politics & Government Videos