Ames, Iowa (CNN) - Republican presidential candidate Ron Paul has fresh bragging rights after picking up what is surely a coveted endorsement on Monday.
Cory Adams - the Republican chairman of Story County in Iowa – endorsed the Texas congressman's presidential bid at a campaign event in Ames, Iowa.
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(CNN) - President Barack Obama said Monday he is willing to cut spending "by historic amounts" to reach a deal raising the federal debt ceiling.
But the "best way to take of our deficit is with a balanced approach" where the wealthy and corporations "pay their fair share too," Obama said.
TOPICS: Economic conditions today and one year from now; Democrats or Republicans more responsible for economic problems
[Updated at 3:05 p.m. ET with Ross statement and reaction]
(CNN) -– Rep. Mike Ross, D-Arkansas, announced Monday that he will not seek re-election in 2012.
Ross said in a statement that he wants to spend more time with his family and explore a bid for governor in 2014.
Read Ross' statement after the jump:
(CNN) - A top adviser to Mike Huckabee's political action committee will now advise Rick Santorum's presidential campaign.
Hogan Gidley, a former executive director of the South Carolina Republican Party, has been named senior communications adviser at Brabender Cox, a Republican media firm that consults for Santorum's campaign.
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Hong Kong (CNN) - U.S. Secretary of State Hillary Clinton said Monday she was confident a deal will be struck to avert a looming debt government default in the United States, despite weekend talks between the country's two parties ending in stalemate.
"The political wrangling in Washington is intense right now," she told delegates at a meeting of business leaders in Hong Kong at the end of a marathon diplomatic tour.
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NEW YORK (CNNMoney) - Stocks around the world fell Monday, as markets reacted to news that congressional leaders and the Obama administration failed to reach agreement on a deal to raise the U.S. debt limit.
Tokyo's Nikkei 225 closed lower 0.8% at 10,050. In Hong Kong, the Hang Seng index lost 0.7%.
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Washington (CNN) - House Democratic leader Nancy Pelosi is asking for an ethics investigation of Rep. David Wu of Oregon, who has resisted calls to resign following a news report alleging he made sexual advances toward the daughter of a longtime campaign donor.
The allegations against Wu, a seven-term Democratic congressman, were published Friday by The Oregonian newspaper in Portland.
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Washington (CNN) - President Barack Obama has canceled two fundraising appearances Monday, a campaign official said, as weekend talks to resolve the nation's debt-ceiling crisis hit a new stalemate.
The move was the latest in a series of setbacks following failed weekend talks that left the sides pursuing separate plans.
"We've hit an impasse," a top Democratic official close to the debt talks said. "We're trying, but there's just no bend on their part."
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CNN: Obama cancels fundraisers amid stalled debt talks
President Barack Obama has canceled two fundraising appearances Monday, a campaign official said, as weekend talks to resolve the nation's debt-ceiling crisis hit a new stalemate. Asian stocks also fell Monday, the first reaction in global markets after congressional leaders and the Obama administration failed to agree on a deal to raise the U.S. debt limit.
CNNMoney: No deal on debt ceiling
Republican lawmakers and [President Barack] Obama have been negotiating for months, looking for a way to both cut spending and raise the nation's legal borrowing limit. Meanwhile, the stakes are getting higher every day.
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