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At least we do not have to wait til March, thanks to FDR who could afford to give up 6 weeks anyway--of course he was kind enough to die in office so it did not make any difference to him.
It took a long time to count votes two hundred years ago when the time between elections and inaugurations was established. But since we still do not know what is going on in the Minnesota Senate Race, we really have not solved that problem yet. But we find a better reason for the length of the transition period. Obama needs this time. He has demonstrated (I should say his team has demonstrated) a thoughtful and careful approach to putting together a New Administration. This approach has taken into consideration the actual economic situation, the actual foreign relations situation, the actual national security situation etc., etc. etc. In short, gathering the facts in order to make some initial determinations as to what courses must be taken for the next four years. And he needs time to approach potential nominees and get some feedback. And don't forget the importance of "vetting". This approach has produced real benefits. Many Republicans have praised at least some of the nominations, and Independents like David Gergin are impressed with almost all of Obama's choices.
This wait does give W free reign to pardon felons, produce executive legislation per presidential orders and begin his musings about what a good job he's done while still in office.
But it was we, the electorate, who gave W a second term. It was our stupidity that made him Chief Executive from January 2005 until January, 2009. And we will live with this choice for another 7 weeks or so.