Judd Gregg Commerce Sec'y app't likely

by Christi Parsons

Sen. Judd Gregg of New Hampshire is the leading candidate to become President Barack Obama's commerce secretary, an administration official said Saturday, in a decision that could come as early as Monday.

Gregg's appointment would add another Republican to Obama's Cabinet at a time when the president is preaching a bipartisan message and working to build GOP support for his agenda.

But it also could potentially tip the power balance in the Senate, if the Democratic governor of New Hampshire decides to name a member of his own party to take Gregg's place.

Depending on how the legal battle over the recount in the Minnesota Senate race goes, a Democratic appointee from New Hampshire could give the party a 60-seat majority--enough to shut down Republican filibusters and smooth the way for Obama's plans whether there is broad-based support for them or not.

An aide to New Hampshire Gov. John Lynch declined to comment Saturday on whether he would appoint a Democrat or Republican. A spokeswoman for Gregg also refused to discuss the possibility.

Still, there are reports circulating in the Senate that Republicans are trying to work out a deal with Lynch to keep the seat in their party's hands in advance of Gregg's agreement to vacate it.

See the rest of the report on Gregg's Commerce chances in Tribune newspapers and here in the Swamp:

Democrats think they would stand to benefit in either case, reasoning that a Republican newcomer would be easier to beat next year than if Gregg were running for re-election.

The Obama economic team would be adding a strong voice for business in Gregg, the lead Republican negotiator on last year's $700 billion financial bailout. He is a 16-year veteran of the Senate and ranking member of its budget committee and is known as a fiscal conservative from a state with a noted aversion to government spending and taxes.

New Mexico Gov. Bill Richardson, a Democrat, was Obama's first choice for the job. Richardson took himself out of contention not long after his nomination, citing a grand jury investigation into how state contracts have been issued in his state during his tenure.

On Saturday morning, Obama pledged to work for speedy, bipartisan support of his stimulus plan, as well as for a new strategy to revive the U.S. financial system.

Angry about news this week that corporate executives handed out millions in employee bonuses in 2008, the president hinted he would take steps to stop corporate executives from dipping into bailout money for employee bonuses.

But in an interview with Bloomberg television Saturday, Obama political adviser David Axelrod stopped short of embracing a ban on bonuses for companies that receive taxpayer-funded bailouts.