President Obama will meet Friday with the top leaders in the House and Senate, hours past the deadline for averting automatic budget cuts, to discuss how to proceed on divisive tax-and-spend issues.
The White House issued more dire warnings about the harm the cuts will do to Americans, breaking down the loss of jobs and services to each of the states.
Sen. Mitch McConnell, (R-KY) shares his hopes for President Obama's speech tonight. Amity Shales, "Coolidge" author, and Steve Moore, Wall Street Journal Editorial Board, weigh in.
An effort is building in Congress to change marijuana laws, including moves to legalize the industrial production of hemp and establish a federal pot tax.
The Senate's senior Democrat and Republican reached a tentative agreement to impose modest limits on the filibuster, the delaying tactic that minority parties have long used to kill legislation and was immortalized in the film "Mr. Smith Goes to Washington."
The president signals he's not bluffing over the debt ceiling.
Facing a February deadline, the Obama administration is calling gun owner groups, victims' organizations and video-game industry representatives to the White House for talks Wednesday on curbing gun violence.
The United States averted economic calamity on Tuesday when lawmakers approved a deal preventing huge tax hikes and spending cuts that would have pushed the world's largest economy off the "fiscal cliff" into recession.
The tentative agreement between the White House and Senate GOP leader Mitch McConnell would raise taxes by about $600 billion over 10 years. Here are highlights of the plan.
An annoyed President Obama said it was "mind boggling" that Congress has been unable to fix the "fiscal cliff." Then dispatched Senate Majority Leader Harry Reid, a Democrat, and Minority Leader Mitch McConnell, a Republican, on a mind-boggling mission: coming up with a bipartisan bill to break the stalemate - in about 48 hours.
On the Senate floor, Minority Leader Mitch McConnell says Republicans will listen to anything President Obama proposes, but they won't approve any "blank checks" to get a deal on the "fiscal cliff."
Last month's dreams of a "grand bargain" of tax hikes and spending cuts seem long gone and a stop-gap that puts everything off for a while but resolves nothing is now the most promising alternative.
In a fresh offer aimed at resolving the "fiscal cliff" standoff, President Barack Obama seeks $1.2 trillion from higher tax revenues, including higher rates on those earning more than $400,000 a year.
President Barack Obama is not ready to accept a new offer from the Republicans to raise taxes on top earners in exchange for major cuts in entitlement programs, a source said late on Saturday.
President Barack Obama and his Republican opponents in Congress enter a crucial week in the "fiscal cliff" impasse with more than just differences over taxes to bridge.
Republican lawmakers took a firm stand on Wednesday against an Obama administration proposal that would make it easier for the president to increase the nation's debt limit.
WASHINGTON, Nov 2- After the Nov. 6 elections, urgent tax and spending issues must be addressed, forcing Washington's power players to make some tough decisions before the end of the year. Regardless of who wins the Nov. 6 presidential election, Obama will be in the White House during the final months of 2012 when the ``fiscal cliff'' must be dealt with.
WASHINGTON, Nov 1- A U.S. government agency has withdrawn a report that challenged Republican ideas about taxes and economic growth- an action that drew fire from Democrats who accused it on Thursday of bowing to political pressure.
WASHINGTON, Oct 28- The United States runs the risk of a recession far deeper than many investors and policymakers may think if lawmakers fail to avert looming tax hikes and cuts to public spending.
WASHINGTON, Oct 24- President Barack Obama says he's confident that if re-elected he will secure within six months a deficit-reduction deal with Republicans equivalent to the ``grand bargain'' he failed to achieve last year. After the newspaper complained in a blog, the White House relented and released a transcript of the interview on Wednesday.