And Time magazine’s Man of the Year is…(drum roll, please): President-elect, Barack Obama. As if there was any surprise that Obama would be selected. The general consensus in the media world (bloggers and mainstream) is that his choice is one big DUH. Time magazine wrote, “Obama overcame a lack of experience, a funny name, two candidates who are political institutions, and the racial divide to become the 44th President of the United States.” America’s next president has dominated the headlines since his nomination for the presidency. It’s only fitting that he would take this coveted award too.

And did you check out Obama’s (dare I say hot) photos from his freshman year at Occidental College included in the Time magazine pictorial? A sneak peek is below but you should see them for yourself.

But what about Time magazine’s runner-ups? Alaska Governor Sarah Palin was on the short list to win Time’s Wo(man) of the Year. No. Really? Well, this soccer mom did take America by storm. Others under consideration included Secretary of State Henry Paulson, France’s President Nicolas Sarkozy, and creator of the opening ceremonies (The Birds Nest) at the Beijing Olympics, Zhang Yimou.

In other non-Obama related news….The United States’ first-ever complete (80%) face transplant was performed on a woman at The Cleveland Clinic. The woman, who was described as horribly disfigured, now has the face of a donated female cadaver. The patient only retained her own chin, lower lip, forehead and upper eyes. Before the operation, the patient couldn’t smile, taste or smell due to an accident. Since the surgeons also grafted facial nerves and muscles, the woman will be able to smile and perform normal face functions. “Our patient was called names and humiliated,” said Dr. Maria Siemionow, who led that team that performed the 22-hour operation two weeks ago. “You need the face to face the world.”

And on the allegedly corrupt Illinois Governor front. According to an ABC News report Wednesday, Blagojevich is going to break his silence and tell his side of the story in a press conference toward the end of the week. Although arrested over a week ago, Blago hasn’t responded to the charges that he tried to sell President-elect Obama’s former Senate seat. The governor said he couldn’t wait to address the people of Illinois.

And the sad, sad American dollar. The U.S. currency has “declined the most against the euro since the 15-nation currency’s 1999 debut.” And the dollar is at a new 13-year low versus the yen despite an almost zero percent interest rates. Perhaps, the dollar’s value has something to do with America’s increasing budget deficits, which isn’t actually prompting more global investors. Although, the dollar is $1.4437 per euro, the U.S. could be looking at a $1.50 exchange rate for one euro or more! Uh-oh, the current economic plans don’t appear to be working. Attention Bernanke: The dollar is sinking.