Obama Daily News Digest

SINGAPORE (Reuters) - The United States has escaped the danger of a Japanese-style deflationary trap, but it is not yet time to start tightening policy, St. Louis Federal Reserve Bank President James Bullard told the Financial Times.

WASHINGTON (Reuters) - President Barack Obama will deliver remarks on the budget on Monday, the White House said on Sunday.

BEIJING (Reuters) - Chinese state media laid into the United States on Monday after the Obama administration unveiled its first arms package for Taiwan, a move that prompted China to impose sanctions on the firms involved.

WASHINGTON (Reuters) - The White House will predict a $1.6 trillion U.S. budget deficit in the 2010 fiscal year, a fresh record and the biggest since World War Two as a share of the economy, a congressional source told Reuters on Sunday.

WASHINGTON (Reuters) - The United States has expanded land- and sea-based missile defense systems in and around the Gulf to counter what it sees as Iran’s growing missile threat, U.S. officials said.

WASHINGTON (Reuters) - The White House will predict a record budget deficit in the current fiscal year and more big shortfalls for the next decade in its upcoming budget proposal, a congressional source told Reuters on Sunday.

WASHINGTON (Reuters) - The White House predicts that the United States will post a record $1.6 trillion budget deficit in the current fiscal year, a congressional source told Reuters on Sunday.

After more than 11,000 questions and 630,000 votes, the folks from CitizenTube who will interview President Obama tomorrow have reminded everyone that the deadline for submitting questions is tonight at 8pm EST:

On Monday afternoon, as a follow-up to his State of the Union address, President Obama will give a live interview to YouTube from the White House — and every single question will come from you. You can submit your questions in video or in text, and you can vote on which questions you think should be asked on CitizenTube. Your votes will determine the top questions posed during the discussion with the President. The deadline for submission is Sunday night at 8 p.m. EST.

The event will be available at both YouTube.com and WhiteHouse.gov/live and starts at 1:45pm EST.  So head over and submit your question, vote on others and then tune in tomorrow to see the President's answers.

WASHINGTON (Reuters) - The White House’s top economic adviser Lawrence Summers gave some backing to Treasury Secretary Timothy Geithner on Sunday, saying Geithner deserves an “enormous amount of credit” for his strategy in stabilizing U.S. banks.

JERUSALEM (Reuters) - Israel and the United States are closely conferring about the Iranian nuclear program, U.S. National Security Adviser Jim Jones said in an interview published Sunday, calling Israel’s conduct “responsible.”

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