Obama names budget director, promotes restraint

President-elect Barack Obama expanded his economic team on Tuesday and vowed to conduct a thorough review of federal spending programs as he promotes a rescue package that would worsen an already swollen U.S. deficit. With the economy in crisis, Obama said, "Budget reform is not an option. It's a necessity." After keeping a low profile since his November 4 victory, Obama has returned to the spotlight, holding two news conferences in two days as he pushes for a massive stimulus program and tries to assure financial markets that he will lead a capable economic team that is prepared to act quickly to revive the economy. "I think what the American people want more than anything is just commonsense, smart government. They don't want ideology, they don't want bickering, sniping, they want action and effectiveness," Obama said Tuesday.