Washington (CNN) - One wish of many Republicans and conservative voters seems certain to come true in the aftermath of the midterm congressional elections - there won't be any more sweeping reform legislation like the 2,000-plus page health care bill for a while.
President Barack Obama has conceded as much since Democrats lost majority control of the House and had their Senate majority narrowed this week, telling reporters that a piecemeal approach to major issues is the best way forward.
(CNN) - President Barack Obama has invited the leaders of the Republicans and Democrats in both houses of Congress to join him in a meeting to discuss what to do in the waning days of this Congress's term, vowing it will "not be just a photo-op," he said Thursday.
(CNN) - Fresh off a victory Tuesday in her hotly contested and closely watched re-election bid, Rep. Michele Bachmann, R-Minnesota, refused to identify specific cuts to the federal budget while, at the same time, criticized what she called "over-the-top" spending for an upcoming presidential trip.
When asked in an interview that airs Wednesday on CNN's Anderson Cooper 360° whether she would support cuts to Social Security and Medicare, Bachmann slammed the White House for the costs of President Obama's forthcoming trip to India.
(CNN) - They were perhaps the most talked about group of the 2010 election season, and with most races now over, the impact of the Tea Party movement in Tuesday's midterm elections can begin to be measured.
The decentralized grassroots nature of the Tea Party movement makes it difficult to define how many candidates on Tuesday's ballots were so-called "Tea Party candidates." There is no official entity that determines who is a "Tea Party candidate."
However, CNN has identified 21 candidates in the "CNN 100" list of most competitive House races who were either Tea Party activists or whose campaigns were helped significantly by the Tea Party movement.
See exactly how Tea Party backed candidates did, after the jump:
13:56 p.m. ET – Obama rejected the contention that his policies are moving America in the wrong direction, citing the economic turnaround since he took office as proof but, in reference to an auto-related campaign analogy, adding that it could be argued "we're stuck in neutral."
13:51 p.m. ET – Obama called the legislative process of passing health care reform "an ugly mess," saying "that is something that I regret" but adding that "the outcome was a good one."
13:41 p.m. – Obama said he intends to meet with congressional leaders from both parties "in the next few weeks" to negotiate a compromise on extending Bush-era tax cuts scheduled to expire by the end of the year.
(CNN) - Senate Majority Leader Harry Reid (D- Nevada), who edged out Tea Party-backed Republican Sharron Angle to seal clinch his bid for reelection, says he is willing to work with Republican leaders in both houses and would consider 'tweaking' the health care bill if necessary.
In an interview with CNN's John Roberts on American Morning, Reid called for an end to campaign rhetoric and emphasized a need for bipartisan cooperation to create policies that will stabilize the economy.
New York (CNNMoney.com) - Voters in several states defeated major anti-tax measures on Tuesday, acknowledging that their financially-strapped governments need revenue to provide services.
A trio of controversial tax initiatives in Colorado failed, as did an effort to slash sales taxes in Massachusetts, according to the National Conference of State Legislatures. This comes amid a wave of anti-incumbent fervor that swept Republicans to victory in the U.S. House of Representatives.
New York (CNNMoney.com) - The economy was a Democrat's worst enemy in this year's midterm elections. Will President Obama face the same fate in 2012?
Political scientists say the direction of the economy is what colors an incumbent's re-election chances most. And even though sluggish growth is widely expected to continue next year, economists are generally forecasting better growth, and improvements in the job market in 2012. That could well be enough to save Obama's job.
"The next two years will be more important for [Obama's] prospects than the first half of his first term," said Douglas Hibbs, a retired professor at the University of Gothenburg who has studied the impact of the economy on voter choices over the last 60 years.