CNBC's John Harwood reports the general election began last night in Indiana after Donald Trump scores a big victory and Ted Cruz suspends his campaign. And Harwood says Hillary Clinton still faces a "pesky" challenge from Bernie Sanders. » Read More
Three key players, President Obama, Rep. Paul Ryan, and Sen. Kent Conrad, each have the responsibility of presenting a budget early next year. If these three men decide not to turn back, the era of deficit denial will indeed be over.
With Democrats achieving their major victories in Congress by party-line votes, the next session could see more partisan animosity. The New York Times reports.
The president celebrated a bipartisan "season of progress' on Thursday at a year-end news conference a few hours after the Senate ratified an arms control treaty with Russia.
The Senate has passed a package of health care and economic aid for people sickened by dust from the ruins of September 11, 2001 terrorist attack on the World Trade Center.
The newly elected Congress needs to “get to work” to solve some of the country’s biggest problems or the American people will throw them out in two years, GOP Sen.-Elect Rob Portman of Ohio told CNBC Wednesday.
Republican-leaning states will pick up a half dozen House seats thanks to the 2010 census, which found the nation's population growing more slowly than in past decades but still shifting to the South and West.
Word that the world's largest military power will allow gays and lesbians to serve openly in the military brought strong and swift reaction Saturday, with supporters declaring a civil rights milestone and detractors insisting it would weaken and divide the armed forces.
Rep. Barney Frank, chairman of the Financial Services Committee, told CNBC that the tax bill signed into law Friday by President Obama make a “mockery of all this deficit concern.”
Despite the hyperbole from the left, lame duck Democrats joined Republicans to ensure the US economy avoid a disastrous hike in tax rates. Most economists are calling for the measure to add 0.5-1.0% to GDP and taking the US economy up to 3.0-4.0% growth for 2011.
Portfolio moves can now be made with the knowledge that capital gains and dividend tax rates will remain at 15 percent, which means most people will want to hold onto their stock market winners.
A congressman from Texas, long a dissident critic of the Federal Reserve, is scheduled to become the chairman of a House panel with jurisdiction over the central bank. It promises to be a miserable time for the Fed chairman as he is peppered with hostile questions at oversight hearings and with legislation to force complete audits of Fed operations. The New York Times reports.
The tax-cut bill that gained final approval in Congress late Thursday, coming so late in the year, has whipped up a mild panic for accountants, payroll staffs and anyone else who handles taxes.
Congress may have amnesia. Little more than five weeks have passed since the election, and the Senate is preparing the biggest pork feast this side of the Mississippi.
The tax compromise brokered by President Obama with Republican congressional leaders will boost economic activity, adding ½ to 1 percent to the GDP, Steven Schwarzman, chairman and CEO of private equity firm Blackstone Group told CNBC Thursday.
The president remains more politically resilient than the mid-term elections suggest— and his adjustment to setbacks may be helping him. Obama leads prospective Republican challengers for 2012.
In topics that ranged from taxes to jobs to American competitiveness to education to the deficit, President Obama came across to CEOs as willing to listen and work with business.
There used to be a joke that went like this. Two guys were sitting in a bar talking politics. "So what party do you support," one fellow asked. "I'm not a supporter of any organized political party," the other fellow said. "Me neither," said the first guy. "I'm a Democrat."
Rep. Ron Paul, (R-Texas), who will head a subcommittee overseeing the Federal Reserve in the new Congress, called central bank a “cartel” and said it has “monopoly control” over the US dollar.
Gone for 2010 but on the books again in 2011—the estate tax will have changes that should make it less painful for taxpayers.
With tax rates likely to remain the same, most investors will want to hold onto their stock-market winners and sell their losers, assuming it makes good investment sense.