President Obama has picked a new Chief of Staff, one who's no stranger to the White House or to brokering deals when the opposing party holds power in Congress.
President Obama introduced the man who will serve as his closest aide. William Daley's going to be the new White House Chief of Staff.
“Few Americans can boast the breadth of experience that Bill brings to this job,” the President said.
The 62-year old Wall Street executive served as Commerce Secretary for President Clinton. He'll now be the Oval Office gatekeeper, controlling nearly everything on the President's agenda.
“I assure you, Mr. President, as they have done in the last two years, that this team will not let you down,” Daley said.
The President's said fixing the economy is his top priority, so Daley's strong ties to business may have helped win him the job. Daley's other big selling point: he's the man who helped Clinton reach agreement with a Republican-controlled Congress.
On Capitol Hill, the new Speaker kicked off the new GOP-led House, leading lawmakers in a full reading of the Constitution – a symbolic first order of business for Republicans who're aiming to repeal the healthcare law and slash spending. But Democrats charge the GOP has backtracked on a pledge to cut $100 billion from the budget.
"At every turn they're adding ifs, ands and buts to their campaign promises," said Sen. Chuck Schumer, D-NY.
"We will meet our commitment to the pledge in this calendar year,” said Rep. John Boehner, R-House Speaker. “There's no ifs, ands or buts about it."
With the political battle lines drawn, the new-look White House and brand new Congress have their work cut out for them.
House members voted to slash their office and committee budgets by 5 percent. Republican leaders say that will save taxpayers some $35 million.