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AIG CEO To Defend Company And Bonuses Before Congress Today
AIG CEO Edward Liddy will be testifying today before the House Financial Services subcommittee, defending his company amidst the public uproar over the massive bonuses paid to its Financial Products division. The hearing begins at 10 a.m. ET.

Obama’s Day Ahead
President Obama is holding a closed meeting with the Congressional Hispanic Caucus at 10:45 a.m. ET.

He will deliver remarks from the South Lawn at 12:30 p.m. ET, and then leave the White House for California. At 7 p.m. ET, he will hold a town hall event in Costa Mesa, California, discussing the economy, and then spend the night in Los Angeles.

Biden’s Day Ahead
Joe Biden is holding a conference on stimulus implementation with local government officials today. He will be speaking at 11 a.m. ET.

Bush Won’t Criticize Obama: “He Deserves My Silence”
Former President George W. Bush said during a visit to Alberta yesterday that he won’t attack President Obama. “There are plenty of critics in the arena,” said Bush. “He deserves my silence.”

More GOP Senators Announce Opposition To Iraq Ambassador Nominee
Five Republican Senators — Jon Kyl, Sam Brownback, Jim Inhofe, John Ensign and Kit Bond — have sent a letter to the White House, calling for the withdrawal of the nomination of Christopher Hill to be the ambassador to Iraq. Hill’s nomination does not appear to be in danger, as he currently has the support of Republican Senator Dick Lugar.

Report: Tauscher Going To State Department
Roll Call reports that Rep. Ellen Tauscher (D-CA) will be appointed to a position in the State Department, heading up arms control and nonproliferation efforts.

Poll: Americans Scaling Back Purchases
A new CNN poll finds that 62% of Americans say they’ve postponed major purchases such as appliances or furniture, and one in three say they’ve cut back on necessities, too. “Think increased consumer spending will rescue the economy? Think again,” says CNN Polling Director Keating Holland. “Cutbacks in major purchases are the same for rich as well as poor Americans.”

Kundra Reinstated As White House CIO
The New York Times reports that Vivek Kundra has been reinstated as President Obama’s chief information officer. Kundra temporarily stepped aside after his former office in the D.C. city government was raided by the FBI, but it has become clear that he himself was not a target of the investigation.

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