Robert Gates will step down as Secretary of Defense this week, with Leon Panetta taking over. Panetta will have a lot on his plate, starting with the start of U.S. troops withdrawing from Afghanistan later this week. Noel King, managing producer for The Takeaway, looks at what obstacles are in store for Panetta as he begins his reign as Defense Secretary.
President Obama will meet with Congressional leaders to try and come to an agreement on raising the debt ceiling, or face going into default. Charlie Herman, business and economics editor for The Takeaway and WNYC, looks at the economic effects this on-going debate could have if a conclusion is not reached soon.
In other news this week, Greece is dealing with their own financial woes, seeking another large international bailout, and Michelle Bachmann is expected to officially announce her candidacy for the Republican presidential nomination today. Her competition, including Mitt Romney and Tim Pawlenty, have to file their second-quarter campaign finance reports to the Federal Election Commission on Thursday. This will give us our first real glimpse into which candidates are doing well, and who is not.