Obama names Nancy Killefer 'chief performance officer'

What kind of perfoming will she be doing? Another Monica in the wings it may seem. Another member has been added to the much anticipated preident elect Obama's Cabinet. Only time will tell if he has surrounded himself with the right people in order to be successful.

Killefer, a former Treasury official, will be in charge of eliminating unnecessary government spending and curbing inefficiency. Obama concedes that his stimulus plan will add to deficit. By Peter Nicholas

Reporting from Washington -- President-elect Barack Obama announced Wednesday that he is creating a new high-level position to wring waste and inefficiencies out of government, as part of a broader push to bring more discipline to federal spending.

At a news conference, Obama introduced a "chief performance officer" -- Nancy Killefer, a partner at the management consulting firm McKinsey & Co. and a former Treasury Department official in President Bill Clinton's administration from 1997 to 2000.