Obama under strong pressure to break precedent on recess appointments – The Hill

President Obama will announce as soon as Wednesday his decision on whether to appoint Richard Cordray to head the Consumer Financial Protection Bureau. In a time when the president insists he wants to work with Congress, this proves to be a touchy subject as Republicans have been pushing efforts to block appointments during congressional breaks. Read the full article here.

Businesses seek state's new 'benefit corporation' status – Los Angeles Times

California became the seventh state to adopt a new corporate structure allowing companies to become “benefit corporations.” The structure increases the ability of for-profit companies to be socially and environmentally responsible while still turning a profit, fundamentally changing the way some companies like Patagonia Inc. are able to do business. Read the full article here.

Economists React: Fed Moves to ‘Alleviate Uncertainty’ – The Wall Street Journal

A number of economists jumped into the conversation surrounding the Fed’s announcement that it will start publishing forecasts for interest rates. The announcement spurred mixed opinions on the effectiveness of this transparency actually boosting the economy. Read the full article here.

U.S. Job Creation Unchanged in December – Gallup

Gallup’s Job Creation Index is the same in December as the previous two months. Although job creation didn’t improve, stagnation shows slight promise at a time of year when the jobs situation typically deteriorates. The Index closed out 2011 near its high for the year, another mild positive for U.S. job market conditions. Read the full article here.

The True Federal Debt – The New York Times

While most people were preparing for the holidays, the federal government was busy publishing its annual financial statement. According to the report released on Dec. 23, the federal debt was $10.2 trillion on Sept. 30. But the “true federal debt” shows money owed to federal employees and veterans, as well as Social Security’s and Medicare’s unfunded liability, bringing the government’s total debt to a whopping $51.3 trillion. Read the full article here.

In other news...

Romney Wins Iowa Caucus by 8 Votes – The New York Times

Small employers plan to up hiring, wages in 2012 – Washington Post

U.S. Stocks Advance Amid Signs of Growth in Global Manufacturing – Bloomberg

Indiana Pins  Hopes on Right-to-Work Bill to Spur Job Growth – The Foundry

Obama Opens Election Year Focused on Pitching Message on Economy – Bloomberg Businessweek

Behind B. of A.’s small-business squeeze – MarketWatch