I think the notion that somehow the Commerce Secretary is not going to be central to everything we do is fundamentally mistaken.

Right now, the most important task for us is to stabilize the patient. The economy is badly damaged; it is very sick. And so we have to take whatever steps are required to make sure that it is stabilized.

I strongly believe that a president or a president-elect or his team should be able to do more than one thing at a time.

We are in one of those periods in American history where we don't have Republican and Democratic problems. We've got American problems.

The most important message today is that the situation is getting worse. We've got to act boldly and we've got to act swiftly.

I look forward to his future service to our country and in my administration.

It is with deep regret that I accept Governor Bill Richardson's decision to withdraw his name for nomination as the next Secretary of Commerce.

We must demand vigorous oversight and strict accountability for achieving results.

I am optimistic that if we come together to seek solutions that advance not the interests of any party, or the agenda of any one group, but the aspirations of all Americans, then we will meet the challenges of our time.

America faces great and growing challenges—challenges that threaten our nation's economy and our dreams for the future.

And in this new year, let us resolve to do so once again.