Obama to launch re-election bid

President Barack Obama is shifting senior White House staffers to his hometown of Chicago and opening a campaign headquarters there as he steps up preparations for the formal launch of his re-election bid this spring, The Associated Press reports.

The moves open a new chapter in Obama's presidency; he will juggle dual roles of candidate and president for the remainder of his first term.

As aides ramped up preparations for 2012, outgoing White House spokesman Robert Gibbs told reporters that the president will soon file papers with the Federal Election Commission to formally declare his candidacy. Officials say fundraising and grass-roots organizing is to begin in March or April.

"We've made progress on getting the economy back in order and I think the president wants to continue to do that," Gibbs said.