Washington (CNNMoney) – Fiscal cliff negotiations are proving to be the perfect excuse for President Obama and the business community to smooth over a rocky four years.
The White House has struggled to make and keep friends in the business community, thanks to contentious policy fights over financial and health care reforms. Obama famously dubbed Wall Street as "fat cat bankers" and bashed health insurers for raising premiums and denying coverage.
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New York (CNNMoney) – If Congress fails to cut a deal on the fiscal cliff this year, the scramble to do so in January could run smack dab into yet another high-stakes negotiation - over raising the debt ceiling.
As of late last week, the country's debt was $154 billion below the $16.394 trillion debt ceiling.
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New York (CNNMoney) - States have until Friday to decide whether they will set up health insurance exchanges, a key provision of President Obama's controversial health reform law.
The health exchanges, which are scheduled to open their doors in 2014, will create online marketplaces where individuals and small businesses can find more affordable insurance plans. Uninsured Americans whose incomes range from 100% to 400% of the federal poverty level will be eligible for federal subsidies.
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Washington (CNNMoney) - Honeywell International CEO David Cote struck a hopeful note after his meeting with President Obama on Wednesday.
"This is going to get solved one way or another," Honeywell's Cote said in an interview with CNN's Erin Burnett.
FULL STORY Washington (CNNMoney) – Most of the $36 million that the U.S. Chamber of Commerce spent on its pro-business agenda this election went down the drain.
According to federal records compiled by the Center for Responsive Politics, a watchdog group, $29 million of the money was spent in races that the Chamber's favored candidate lost.
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Washington (CNNMoney) - The tab for the 2012 election is breaking records, with $4.2 billion raised through Sunday on the races for the White House and Congress.
When all the numbers roll in, some $6 billion could be spent on the election, according to the Center for Responsive Politics.
Watch CNN's comprehensive coverage of Election Day starting at 6 p.m. ET Tuesday on CNN TV and follow online at CNN.com or via CNN's apps for iPhone, iPad and Android. For up-to-the-minute results, go to cnn.com/results and for our real-time Election Day live blog, check out cnn.com/conversation. Need other reasons to watch Election Day coverage on CNN's platforms? Click here for our list.
FULL STORY New York (CNNMoney) – Among the questions about how Mitt Romney would pay for his $5 trillion tax plan is whether he would curb the biggest tax break of all: the largely invisible tax savings workers get when their employer provides health insurance.
The "health care exclusion" applies to the money a company contributes to help pay for an employee's coverage; that money is considered income to the worker, and the IRS treats it as tax-free.
Watch CNN's comprehensive coverage of Election Day starting at 6 p.m. ET Tuesday on CNN TV and follow online at CNN.com or via CNN's apps for iPhone, iPad and Android. For up-to-the-minute results, go to cnn.com/results and for our real-time Election Day live blog, check out cnn.com/conversation. Need other reasons to watch Election Day coverage on CNN's platforms? Click here for our list.
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New York (CNNMoney) – One wants to strengthen the nation's existing safety net. The other wants to overhaul it.
President Barack Obama and challenger Mitt Romney have vastly different views on how to help the 46.2 million Americans in poverty and the more than 30 million people who are near poor. The president leans toward expanding the programs that exist, while the Republicans say they will set up a system that fosters economic opportunity instead of government dependency.
Watch CNN's comprehensive coverage of Election Day starting at 6 p.m. ET Tuesday on CNN TV and follow online at CNN.com or via CNN's apps for iPhone, iPad and Android. For up-to-the-minute results, go to cnn.com/results and for our real-time Election Day live blog, check out cnn.com/conversation. Need other reasons to watch Election Day coverage on CNN's platforms? Click here for our list.
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New York (CNNMoney) – Hurricane Sandy could cause a delay in the release of the highly-anticipated October jobs report set for this Friday.
The report is normally released at 8:30 a.m. ET the first Friday of the month. This month's report is the final reading on the health of the job market before the presidential election.
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New York (CNNMoney) – U.S. economic growth picked up in the third quarter, boosted by stronger consumer spending, an improving housing sector and increased defense spending.
Gross domestic product, the broadest measure of the nation's economic health, grew at an annual rate of 2% from July to September, the Commerce Department said Friday, faster than the 1.3% in the second quarter.
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