On January 8, Speaker of the House Nancy Pelosi (along with 11 House colleagues) introduced House Resolution 34, whose title reads: "Recognizing Israel's right to defend itself against attacks from Gaza, reaffirming the United States' strong support for Israel, and supporting the Israeli-Palestinian peace process." Within a day, H. Res. 34 gained 116 cosponsors and was passed by the House on January 9 (House Roll Call 10) by an overwhelming margin of 390 to 5.
President Bush leaves office amidst the greatest economic calamity in several generations, perhaps ever. The federal budget deficit is poised to triple last year's record $400 billion, rising to a projected $1.2 trillion, perhaps far more. Trillions too have been added to the national debt by a desperate Bush administration and craven Congress, most to bail out America's corporate and financial oligarchs.
According to Henry Kissinger, the various political and economic crises currently conflicting the world offer President-elect Barack Obama an opportunity to create a "new world order." That's what the former Secretary of State told CNBC's Mark Haines in a January 5 interview from the busy floor of the New York Stock Exchange.
On January 5, the nation's new media learned that President-elect Barack Obama would nominate former congressman and Clinton administration official Leon Panetta as the next director of the Central Intelligence Agency. Obama's choice reportedly caught some veteran Democratic senators who had not been briefed of the decision off-guard, and some voiced their skepticism that that Bill Clinton's former chief of staff and director of the Office of Management and Budget possessed sufficient experience in the intelligence field to handle the job.