Obama: Bernanke Stays

President Obama took a moment from his vacation on Martha's Vineyard Tuesday morning to praise Ben Bernanke, who he appointed to serve another term as head of the Federal Reserve. Speaking of the challenges ahead, the president said the U.S. is "a long way away" from a healthy economy. Obama's comments notably contrast with Bernanke's own more-optimistic-than-usual comments in recent days. With Bernanke by his side, Obama said that the Fed Chief had helped prevent an even deeper crisis. "Ben approached a financial system on the verge of collapse with calm and wisdom; with bold action and outside-the-box thinking that has helped put the brakes on our economic freefall," Obama said. The Wall Street Journal reports that the surprise announcement from Obama is a calculated move that will help distract people from the gloomy news about the record-smashing deficit.