Current Event

President Obama will convene his first cabinet meeting this morning and order his department chiefs to immediately cut a combine $100 million from their budgets. The President will be asking each department of agency chief for special proposals for triming their budgets. He says families are having to make financial desicions and need to know the government is spending their money wisly.He also said" If we are going to rebuild the economy on a solid foundation, we need to change the way we do business in Washington". To help achieve this goal President Obama appionted Jeffrey Zients( founder and managing partner of the investment firm portfolio Logic) as deputy director for management of the office of management and office, will work to streamline processes and cut cost.