Today's Papers: Obama: Just a Little Patience

The Washington Post, USA Today, and the Wall Street Journal's world-wide newsbox lead with, and everyone else fronts, President Obama's second prime-time news conference, where he defended his proposed $3.6 trillion budget plan, which is beginning to make its way through Congress. "The budget I submitted to Congress will build our economic recovery on a stronger foundation so that we don't face another crisis like this 10 or 20 years from now," he said. Obama focused much of his attention on the economy, adding that there are already signs of improvement but emphasizing numerous times that the American people need to be patient. "We will recover from this recession, but it will take time," Obama said. The Los Angeles Times leads with the Obama administration announcing a plan to send hundreds of federal agents and intelligence analysts to the country's southern border to help combat Mexican drug-related violence and prevent it from seeping into the United States. It marks "the most determined U.S. effort in years to counter the powerful and dangerous cartels" that are enmeshed in a deadly battle with the Mexican government that has already killed more than 7,000 people over the last 15 months. The New York Times leads with the White House's proposal to allow the government to take control of any financial institution that is in trouble and is considered big enough to create trouble in the broader financial system. The government already has that power with banks and other deposit-taking institutions, but the proposal would extend that authority to other financial institutions such as insurance companies and hedge funds. House Democrats say they hope to act on legislation soon. If the measure is approved, "it would represent one of the biggest permanent expansions of federal regulatory power in decades," notes the NYT. To continue reading, click here.