US money supply plunges at 1930s pace as Obama eyes fresh stimulus  —  The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history.

‘Top kill’ effort succeeds in blocking oil leak, Coast Guard admiral says  —  Thad Allen, who is coordinating the government response, says the well still has low pressure, but cement will be used to cap the well permanently as soon as the pressure hits zero.

Service Chiefs Seek to Delay Vote on Gays  —  WASHINGTON — The chiefs of the Army, Navy, Air Force and Marines objected on Wednesday to a compromise plan to repeal the military's ban on allowing gay men and lesbians to serve openly, a position that put them at odds with President Obama and Defense Secretary Robert M. Gates.

Justice Scalia Praises Elena Kagan's Lack of Judicial Experience  —  ABC News' Teddy Davis reports:  —  Obama Supreme Court nominee Elena Kagan has been criticized by some Republican senators for lacking judicial experience.  But Justice Antonin Scalia, the High Court's most outspoken conservative …

Rand Paul faces possible challenge, staff shake-up  —  FRANKFORT, Ky. — A week after a come-from-behind victory over the GOP's establishment candidate in a Kentucky Senate primary, Rand Paul is facing a possible challenge by the Libertarian Party and is shaking up his staff after comments …

Time for Sestak to clean up his mess  —  Senate Republicans are now calling for a special prosecutor to look into Joe Sestak's claim that the White House offered him a job in order to drop his primary challenge to Arlen Specter.  On the merits, this seems silly: Good government experts …

President Obama's national security strategy looks beyond military might  —  Military superiority is not enough to maintain U.S. strength and influence in the world, and the United States must build global institutions and expand international partnerships beyond its traditional allies …

BP Used Riskier Method to Seal Oil Well Before Blast  —  WASHINGTON — Several days before the explosion on the Deepwater Horizon oil rig, BP officials chose, partly for financial reasons, to use a type of casing for the well that the company knew was the riskier of two options, according to a BP document.

Simmons ‘sorry’ for ripping McMahon  —  Former Rep. Rob Simmons apologized for telling a conservative news outlet that he didn't think Senate candidate Linda McMahon, who won the GOP's backing over him at the party's convention last week, can win the Connecticut general election and saying that he was too …

Making Control Simple  —  When we started Facebook, we built it around a few simple ideas.  People want to share and stay connected with their friends and the people around them.  When you have control over what you share, you want to share more.  When you share more, the world becomes more open and connected.

U.S. withdrawal from Iraq will be on time, Vice President Biden says  —  President Obama called Iraq his predecessor's war of choice.  Now it is his war to exit — and quickly.  —  The challenge for Obama, whose opposition to the Iraq invasion helped propel him to the presidency …

Feds Issue Terror Watch for the Texas/Mexico Border  —  The Department of Homeland Security is alerting Texas authorities to be on the lookout for a suspected member of the Somalia-based Al Shabaab terrorist group who might be attempting to travel to the U.S. through Mexico, a security expert who has seen the memo tells FOXNews.com.

Wisconsin Veteran Must Remove Flag After Memorial Day, Wife Says  —  Charlie Price, a 28-year-old Army veteran, will be allowed to fly this flag in his Wisconsin apartment only until Memorial Day, his wife told FoxNews.com.  —  An Army veteran in Wisconsin will be allowed to display …

GOP NARRATIVES VS. PUBLIC NEEDS.... House Democrats are ready to move forward on a package of economic policies — jobless benefits, temporary health care subsidies, job creation investments — that would bolster the ongoing recovery.  But it's struggling, not because of its merits …

US troops won't be used to stop illegal immigration: US  —  US National Guard troops being sent to the Mexican border will be used to stem the flow of guns and drugs across the frontier and not to enforce US immigration laws, the State Department said Wednesday.

Poll: Majority give Obama, feds failing grade on oil spill response  —  The oil spill off the Gulf Coast is staining more than Louisiana's beaches.  —  The response to the disaster by energy giant BP, President Obama and the federal government all get terrible grades from Americans in a USA TODAY/Gallup Poll.

Obama to Extend Drilling Moratorium  —  WASHINGTON — President Obama plans to announce Thursday that he is extending the moratorium on permits to drill new deepwater wells for six more months and will delay or cancel specific projects off the coasts of Alaska and Virginia and in the western Gulf of Mexico, a White House official said.

Colombian beauty queen arrested  —  A Colombian beauty queen has been arrested in Argentina on charges of leading a drug trafficking ring.  —  Angie Sanclemente Valencia, 31, is accused of persuading young women to smuggle cocaine from Argentina to Europe via Mexico.