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Retired Gen. Eric Shinseki, President-elect Barack Obama's pick to head the Department of Veteran Affairs, has promised to modernize the agency. Shinseki appeared Wednesday before the Senate Veterans Affairs Committee at his confirmation hearing.

A massive fire in the Angeles National Forest nearly doubled in size overnight, threatening 12,000 homes in the Los Angeles area. Gov. Arnold Schwarzenegger has issued emergency declarations for four counties.

U.S. Attorney General Eric Holder called the recent beating death of a Chicago teen a "wake-up call" that would lead to action. Holder and Education Secretary Arne Duncan held a news conference with Chicago Mayor Richard Daley. The two Cabinet officials were sent by the White House to Chicago after the killing.

The Senate is taking up the $700 billion plan to rescue Wall Street. Benton Ives, economics and finance reporter for the Congressional Quarterly, says the legislation is largely the same as the one the House rejected Monday, but with added tax breaks and an increase on the deposit insurance cap.

President Biden heads to a New York district where Republicans eked out a victory in 2022. It's part of a push to put pressure on vulnerable Republicans to lift the debt ceiling.

Financial assistance to Ukraine will help shore up the country's currency, which has maintained strong buying power despite the war.

The House has passed an $825 billion economic stimulus bill. However, no Republicans voted for the bill. They say it has too much spending and not enough tax cuts. It was a loss for bipartisanship but an early win for President Obama — just eight days into his presidency. The bill now goes to the Senate.

Senators announced a compromise between House and Senate negotiators on the economic stimulus package. Some House Democrats are upset that money for states and schools had been removed from the measure, but backed the deal.

U.S. Supreme Court Justice Ruth Bader Ginsburg was hospitalized on Thursday and treated for pancreatic cancer. Ginsburg, 75, has told friends she intends to be back on the bench when the court reconvenes Feb. 23. Nevertheless, there's speculation about whom President Obama would chose to replace her should she step down.

The White House on Thursday hosts a summit designed to begin overhauling the nation's health care system. It's just one of the major issues President Obama is trying to tackle. Is it a good idea to have so many major issues in play at once?