President-elect Barack ObamaBarack ObamaOvernight Finance: GOP divided over welfare cuts in budget | Lawmaker loses M on pharma stock he pitched | Yellen says another financial crisis unlikely in our lifetimes Why UK millennials voting for socialism could happen here, too Overnight Regulation: EPA moves to repeal Obama water rule | Labor chief to review overtime rule | Record fine for Google MORE today asserted that he has assembled the best basketball-playing White House Cabinet ever, following the addition of former pro Arne Duncan as incoming secretary of Education.

"I did not pick Arne becase he is one of the best basketball players I know," Obama said today at a news conference announcing Duncan's selection.

But, Obama said, "I think we are putting