Morning news brief from 770KKOB

It's TIME for Bernanke
Time magazine has announced its ``Person of the Year'' for 2009. It's Federal Reserve Chairman Ben Bernanke. Last year's winner was then-President-elect Barack Obama. Previous winners include George W. Bush and Bono.

Health bill compromises
The public insurance option that most senate Democrats wanted to include in health care reform legislation appears dead, as does a Medicare buy-in plan. But Democrats are nearing a compromise on the bill as they come to terms with the idea that they're not going to get everything they want in the nearly $1 trillion bill.

Raising the federal debt ceiling
The House plans to vote today on a $200 billion increase in the federal debt ceiling, extending the limit for two months. President Barack Obama says deficit spending is still needed to create jobs and stimulate the economy. But most Republicans and some moderate Democrats say the deficit is growing too large.

Trouble in Copenhagen
Police are using tear gas and batons to disperse crowds of protesters trying to disrupt the U.N. climate talks in Copenhagen. A police spokesman says 230 protesters have been detained. The demonstrators say they want to take over the global conference and turn it into a ``people's assembly.''

Teens need health screenings after sex
A new study suggests that half of all urban teenage girls may get one or more sexually transmitted infections within two years of becoming sexually active. Researchers at Indiana University say their findings point to the need to screen sexually active teenage girls sooner for infections.

McCain Suspends His Campaign and Delays Debate

As President Bush prepares to address the nation tonight in a speech dealing with the serious financial crisis facing the country, Republican Presidential hopeful John McCain says he’s suspending his campaign to return to Washington to deal with the crisis. He’s asked President Bush to appoint a bi-partisian panel to work on a bailout package.

McCain has also asked Barack Obama to delay the first presidential debate scheduled for Mississippi on Friday so they both can work on the market turmoil.

Earlier today in Dunedin, Florida Barack Obama accused McCain of being slow to speak out against huge salaries for Wall Stree executives.

“Suddenly McCain is talking like a hard-charging populist. I sure wish he joined me when I blew the whistle on the fired CEOs of Fannie Mae and Freddie Mac who tried to walk away with golden parachutes.

Bush’s prime-time talk is a dramatic gesture of last resort. The White House says if the government doesn’t take “decisive and bold action on a rescue package, the country could face financial calamity on main street, not just Wall Street.

Senate Majority Leader Harry Reid (D-NV) has been criticized President Bush this morning, saying, “The President has been absent from what well may be the most important debate on economic policy in a generation.”

House Republicans met with treasury secretary Henry Paulson and Fed Chairman Ben Bernanke. House GOP Leader John Boehner (R-OH) is optimistic that republican and democrats will come together and devise a plan that will best service the American people.

“I do think that congress has a responsibility to act. And, I’m hopeful in the coming days we’ll be able to come together around a plan that will in fact stem this crisis,” Boehner said.

To read more about the possibility of “landing safely” read Heath Haussamen’s comments here.