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The Obama administration on Friday said it was ready to free up about $260 billion so the nation could continue paying its bills as a temporary debt ceiling suspension lapses.
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Senate Minority Leader Mitch McConnell and House Democratic leader Nancy Pelosi are clashing over the prospect of another round of tax increases on the wealthy.
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With scant prospect of a swift return to growth in the Euro zone, the risk in 2013 is less outright conflagration in the single-currency area than a fraying of social and political ties and an insidious erosion of hope.
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The vast U.S. services sector in December grew at its fastest clip in 10 months, boosted by a rise in new orders. A separate report showed that new orders received by U.S. factories were flat in November.
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The U.S. employment picture continued its gradual improvement in December, adding 155,000 positions as the unemployment rate held at 7.8 percent.
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The Fed minutes triggered a sell-off in equities as investors fretted over a possible end to historically low interest rates. The upside? Analysts say this reflects confidence in the U.S. economy.
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Independent ratings agency Egan-Jones, which slashed the U.S. sovereign credit rating twice last year, said it has no intention of further downgrading the country this year, praising efforts by U.S. lawmakers to avert the "fiscal cliff".
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Tentative signs the euro zone may have passed the worst of its downturn emerged in December but business surveys also suggested Britain's economy tipped back into contraction in the final months of 2012.
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The jobs market saw mostly good news, with a big increase in private sector hiring helping offset an uptick in weekly unemployment claims.
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Wracked by the recession, state governments overall are starting 2013 in their best financial shape in several years. USA Today reports.
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After bruising fights in GOP ranks over the "fiscal cliff" and aid for victims of super storm Sandy, Congress started a new session Thursday with Republicans more divided than ever.
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Sen. Richard Shelby told CNBC he voted against the "fiscal cliff" deal it moves us from one crisis to another crisis in "less than" eight weeks.
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U.S. House Speaker John Boehner made a U-turn on Wednesday to clear the way for approval of $60 billion in Superstorm Sandy relief by mid-January after drawing withering fire from fellow Republicans, including New Jersey Governor Chris Christie, for canceling an earlier vote.
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U.S. executives largely panned the congressional deal to steer America away from the "fiscal cliff," saying Washington wasted an opportunity to address the nation's debt.
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The White House has "somewhat less leverage" in upcoming budget talks, said former Obama Office of Management and Budget director Peter Orszag.
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Donald Trump slams GOP in tweets, saying that Republicans got nothing in the fiscal cliff deal. Here's a look at some principles the real estate mogul might have followed had he been negotiating, the CSM reports.
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The eleventh hour deal reached to avert the fiscal cliff in the U.S. merely masks the bleak long-term outlook for the country, Nouriel Roubini said in an opinion piece published in the Financial Times newspaper on Thursday.
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Some of the biggest U.S. retailers reported December same store sales on Thursday, showing both hits and misses in a still unsteady economy.
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The "fiscal cliff" deal will help millions of Americans avoid paying the dreaded alternative minimum tax—while making it harder for many upper-middle class taxpayers to escape it, analysts say.
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Despite its well-publicized cutoff at incomes of $400,000 and up, the fiscal cliff deal could increase taxes on people making less.
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The Sandy aid bill should go to the House floor as the "first order of business" in the new Congress, Rep. Steve Israel said on CNBC's "Squawk Box."