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Sunday, September 24, 2023

Poll gives Obama transition high marks

President-elect Barack Obama is getting high marks on his transition so far, with even most Republicans saying he’s doing just fine.

Nearly three-quarters overall, or 73 percent, say they approve of the job Obama has done preparing to take office next month, according to a new Associated Press-GfK poll. The positive reaction is spread broadly across age, gender, income and racial lines, with 73 percent of whites — a group Republican candidate John McCain carried on Election Day — giving a thumbs up.

While 90 percent of Democrats approve of Obama’s transition, so do 54 percent of Republicans. Only about one in 10 from the GOP voted for the Democrat Obama last month.

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GOP opposition threatens auto bailout

A House-passed bill to speed $14 billion in loans to Detroit’s automakers stands on shaky ground in a bailout-weary Congress, undermined by Republican opposition that could derail the emergency aid in the Senate.

Republicans are challenging lame-duck President George W. Bush on the proposal, arguing that any support for the domestic auto industry should carry significant concessions from autoworkers and creditors and reject tougher environmental rules imposed by House Democrats.

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Recession deepens; Deflation possible

The "nasty" U.S. recession will tighten its grip next year as unemployment rises and weak home and stock prices imperil consumers, finance firms and debt-laden businesses, a UCLA Anderson Forecast report released on Thursday said.

Additionally, a sustained retreat in prices for goods and services is a very real possibility that would further drag on the economy, according to the forecasting unit’s report.

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