NEW YORK (CNNMoney) - The year couldn't end without a final word about the nation's debt ceiling.
President Obama plans to ask Congress this week to raise the debt limit by $1.2 trillion, an increase that should get the government through most of next year, a Treasury department official said Tuesday. Fortunately, though, the increase should come without the fireworks the accompanied this summer's debt battle, as it comes in line with the deal struck back then. That deal authorized a phased increase of the debt ceiling by between $2.1 trillion and $2.4 trillion in total, with $400 billion of that kicking in immediately and another $500 billion coming in September.
Dubuque, Iowa (CNN) - Newt Gingrich will be crisscrossing Iowa over the next eight days in a bus wrapped in patriotic colors and a large headshot next to his "Newt2012" logo.
The former House speaker is one of five major Republican presidential candidates campaigning in the Hawkeye state leading up to the Jan. 3 caucuses, the first contest in the race for the GOP nomination.
(CNN) - Democratic Sen. Ben Nelson of Nebraska announced Tuesday that he will not run for re-election next year.
Nelson, 70, said in a statement that it was time to "step away from elective office, spend more time with my family, and look for ways to serve our state and nation."
Des Moines, Iowa (CNNMoney) - The Iowa caucus isn't just a political exercise. It's also a very big business.
As candidates crisscross the state with their staffers, supporters and the media in hot pursuit, the groups dump money into local economies from Des Moines to Ottumwa.
Des Moines, Iowa (CNN) - As the clock ticks towards the start of the primary and caucus calendar, campaigning here in the Hawkeye state kicks into high gear.
Five of the major Republican presidential candidates will campaign in Iowa on Tuesday with one week to go until the state's January 3 caucuses, the first contest in the race for the GOP nomination. And as the candidates criss-cross the state, Iowa airwaves will see an explosion of campaign TV commercials, following a brief lull for Christmas.
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CNN: Newly recovered court files cast doubt on Gingrich version of first divorce
Newt Gingrich claims that it was his first wife, not Gingrich himself, who wanted their divorce in 1980, but court documents obtained by CNN appear to show otherwise.
CNN: Santorum hunts birds and serves up photo op
Opting not to hunt for votes one day after Christmas, a gun-toting Rick Santorum went on a different kind of hunt on Monday.