WASHINGTON (CNN) - Democrats are still insisting any deal to raise the debt ceiling include revenue increases while Republicans maintain that cannot pass Congress, both Democratic and Republican sources familiar with the talks said Thursday.
White House negotiators had put on the table proposals to bring in more than $400 billion in revenue over the next decade by limiting itemized deductions for those above the 28% bracket, eliminating subsidies for the oil and gas industry and for corporate jets and for interest on investments, according to Democrats familiar with the negotiations. In the past, Democrats have opposed attempts to limit itemized deductions.FULL STORY
(CNN)-After pledging that he wouldn't use his own wealth to support a bid for the presidency, former Utah Gov. Jon Huntsman has dipped almost $2 million deep into his own pockets after all.
According to his campaign, Huntsman has raised $4.1 million in the second fundraising quarter as he seeks the 2012 GOP nomination for president, but almost half of it comes from the candidate's personal funds.
NEW YORK (CNNMoney) - Tim Geithner is considering leaving his post as Secretary of the Treasury after a deal to raise the debt ceiling is reached, a source familiar with the discussion told CNN Thursday.
Geithner is the lone remaining member of President Obama's original economic team.FULL STORY
Philadelphia (CNN) - President Obama Thursday continued his tough talk on negotiations that surround raising the debt ceiling, telling a packed ballroom of supporters in Philadelphia he will not agree to the broad spending cuts some Republican leaders in Congress are demanding.
"I am prepared to bring our deficit down by trillions of dollars. That's with a T, trillions. But I will not reduce our deficit by sacrificing our kids' education… by eliminating medical research being done by our scientists," Obama said to a largely enthusiastic crowd. "I won't sacrifice rebuilding our roads, and our bridges, and our railways and our airports."FULL STORY
Washington (CNN) – As the clock ticks down to the August date in which the U.S. officially defaults on its debt, lawmakers on both sides of aisle appear to be playing a game of political volleyball.
It was evident during President Obama's news conference Wednesday in which he chided congressional Republicans for the impasse on the debt ceiling talks.FULL STORY
Washington (CNN) – It was no joke Thursday at the Federal Election Committee hearing as Comedian Stephen Colbert gained approval to start his "superPAC" by a 5-1 "media exemption vote."
But in the crowd outside the FEC's headquarters following the vote it was clear the host of "The Colbert Report" on Comedy Central had a straight-faced delivery and this matter of election fundraising regulation had some laughing – and throwing money.
(CNN) – With U.S. Rep. Michele Bachmann of Minnesota making a splash in the Republican presidential campaign while Sarah Palin sits on the sidelines, is Bachmann edging Palin out of the Tea Party's heart?
While the former Alaska governor, vice presidential candidate and Fox News commentator is still much loved as a smart, media savvy conservative who breathes fire against President Obama and Democrats, it appears that Tea Party excitement for a Palin presidential run has passed.FULL STORY
(CNN) - It’s not exactly crossing enemy lines but showing up at your dad’s opponent's campaign rally probably will make for a few awkward moments around the family dining table.
Will Huntsman, the college-age son of Republican presidential candidate Jon Huntsman, attended a Mitt Romney rally last Friday in Salt Lake City.
Chicago (CNN) – Former President Bill Clinton says he fully expects that President Barack Obama will be re-elected. He says he likes Republican presidential candidates Mitt Romney and Jon Huntsman and says he’s not surprised at Michele Bachmann’s rise in the polls, saying: "She comes across as real."
During a lengthy interview with me in Chicago at his Clinton Global Initiative America conference on creating jobs, he also got emotional when I asked him about his wife, Secretary of State Hillary Clinton. He says she's "the most gifted person" he knows in public service. "I’m really proud of her."FULL STORY
Washington (CNN) - Gen. David Petraeus won unanimous Senate confirmation Thursday to succeed Leon Panetta as director of the Central Intelligence Agency.
The 58-year-old commanding general of U.S. forces in Afghanistan has said he will retire from the military before assuming his new post later this year.