NEW YORK (CNNMoney) – John Bryson resigned his post as Commerce Secretary on Thursday, less than two weeks after an episode involving a seizure and a series of traffic accidents.
Bryson, a former energy industry CEO, had served in the position since October, and his departure leaves the Obama administration with one fewer private-sector luminary.FULL STORY
NEW YORK (CNNMoney) – Hell hath no fury like a woman scorned - but what about a Wall Street titan?
Deep-pocketed financiers have abandoned President Obama and are flocking to Mitt Romney in droves, providing more donations to his campaign than any other industry except retired workers. (And that's not really an industry.)FULL STORY
New York (CNNMoney) – President Obama will renew his call for higher taxes on the rich on Tuesday, and he has invited Warren Buffett's secretary to Washington to make his point.
Debbie Bosanek, longtime secretary to the Oracle of Omaha, will take in the State of the Union as a guest of the White House.FULL STORY
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.FULL STORY
New York (CNNMoney) – Warren Buffett has a message for Rupert Murdoch and the Wall Street Journal: Sure, I'll release my tax returns, if you do too.
Last week, the Wall Street Journal published an editorial that asked Buffett to disclose his tax returns. The piece, "Mr. Buffett's Tax Secrets," took issue with Buffet's plan to hike taxes on some of the super-rich.FULL STORY
New York (CNNMoney) – Big federal spending cuts are on the way. That's pretty clear. Whether they total $1 trillion, $2 trillion or $3 trillion is anybody's guess. But make no mistake - they are coming.
The cuts - tied to an increase in the debt ceiling - are virtually guaranteed to be some of the biggest in history. But will they hit the economy at a particularly bad time?FULL STORY
New York (CNNMoney) - Huge spending cuts, and maybe some targeted tax hikes.
That's how the deal to raise the debt ceiling is shaping up. Details are thin, as negotiations have been carried out behind closed doors and involve only a few of Washington's heaviest hitters.FULL STORY
NEW YORK (CNNMoney) – How should the United States deal with its growing debt problem? Ron Paul thinks declaring "bankruptcy" might be a good idea.
The Texas congressman and Republican presidential candidate was discussing Greece's fiscal trouble with Iowa radio host Jan Mickelson on Monday when he was asked, "If bankruptcy is the cure for Greece, is it also the cure for the United States?"FULL STORY
New York (CNNMoney) - Hey rich folks, Tim Pawlenty wants to cut your taxes. A lot.
Under the terms of his recently revealed economic plan, Americans in the top 20% of earners would see their taxes cut by an average of $23,500, an 8.6 percentage point drop in their tax rate, according to an analysis by the nonpartisan Tax Policy Center.FULL STORY