Do-Nothing Congress as a Cure  —  A trick question: If Congress takes no action in coming years, what will happen to the budget deficit?  —  It will shrink — and shrink a lot.  This simple fact may offer the best hope for deficit reduction.  —  As federal law currently stands …

Obama speech to focus on four steps for fiscal reform  —  In a major speech Wednesday on fiscal policy, President Obama will lay out four steps he thinks the federal government should take if it wants to balance its budget.  —  Obama will talk about the need to keep domestic spending low …

Wall Street executives warn John Boehner on debt limit  —  NEW YORK — Republicans are growing increasingly concerned about the impact a bruising fight over raising the nation's $14.29 trillion debt ceiling could have on U.S. financial markets.  —  House Speaker John Boehner (R-Ohio) …

Daniels' presidential run would take on big issues  —  But governor says he still hasn't decided on 2012 campaign  —  Gov. Mitch Daniels' campaign for president would be a crusade against federal debt and for major entitlement reform — if, that is, he runs.

Pray.  Hope.  Prepare.  —  When I was in Cairo during the Egyptian uprising, I wanted to change hotels one day to be closer to the action and called the Marriott to see if it had any openings.  The young-sounding Egyptian woman who spoke with me from the reservations department offered …

Graham Vows To ‘Tie Senate In Knots’ Over $50K Left Out Of Budget Deal  —  Not all Republicans were celebrating Tuesday about the fine print of the $38.5 billion in cuts House Republicans managed to wrangle in last week's 11th-hour budget showdown.  Tea Party loyalists who wanted tens …

Diplomatic Breakdown Amid Bieber Fever in Israel  —  JERUSALEM — The teenage pop idol Justin Bieber became embroiled in a diplomatic imbroglio on Tuesday when it emerged that plans for a meeting between the singer and Prime Minister Benjamin Netanyahu of Israel had been called off, with the sides differing over why.

Lobbyists Won Key Concessions in Budget Deal  —  WASHINGTON — At a quarter till midnight last Friday, with a deal to avert a government shutdown barely an hour old, Senator Harry Reid phoned a fellow Democratic senator, Ron Wyden, at home and startled him with some bad news.

Inflation Actually Near 10% Using Older Measure  —  After former Federal Reserve Chairman Paul Volcker was appointed in 1979, the consumer price index surged into the double digits, causing the now revered Fed Chief to double the benchmark interest rate in order to break the back of inflation.

ThinkProgress Leaves Bachmann Speechless: Doesn't ‘Have An Answer’ On Whether Homosexuality Is A Public Health Hazard  —  Yesterday, Rep. Michele Bachmann (R-MN) — who is seriously considering launching a campaign for the presidency — appeared before the FAMiLY Leader, an anti-gay social conservative group in Iowa.

Why Obama was forced to give today's deficit speech  —  If President Obama is in political trouble, just wait a minute.  He'll give a speech.  He thinks speech-making is his best skill and clearly prefers campaigning over presidenting at a desk.  —  Oh, look!  Obama's giving another speech this afternoon.

Sidney Harman 1918-2011  —  Sidney Harman died last night of complications from acute myeloid leukemia at the young age of almost 93.  He first learned of his illness one month ago and remained vigorously engaged as Executive Chairman of Newsweek, and Chairman of the Academy for Polymathic Study …

Old Enough to Fight, Old Enough to Drink  —  Republicans can make up for a Reagan-era error by returning this issue to the states.  —  'If you get shot at, you can have a shot.  " That's the rationale behind Alaska State Representative—and Vietnam veteran—Bob Lynn's effort to establish …

Egypt junta bows to protesters, Mubarak and sons jailed  —  It didn't take long for Egypt's interim military-backed regime to respond to the country's latest popular demands.  —  On Friday hundreds of thousands of Egyptians again filled Cairo's Tahrir Square, this time demanding the government …

The Real Housewives of Wall Street  —  Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley bigwigs?  —  By  —  America has two national budgets, one official, one unofficial.  The official budget is public record and hotly debated …

Spending Cut Hokum  —  GOP leaders hyped their budget savings.  —  A mini-revolt is brewing among Republican backbenchers on Capitol Hill now that the specific spending cuts in Friday's budget deal are being revealed.  After separating out the accounting gimmicks and one-year savings …

GE Responds to Public Outcry - Will Donate Entire $3.2 Billion Tax Refund to Help Offset Cuts and Save American Jobs  —  Fairfield, CT, 13th April, 2011- GE CEO Jeffrey Immelt has informed the Obama administration that the company will be gifting its entire 2010 tax refund, worth $3.2 Billion …

Wisconsin previews 2012 chaos  —  Here we go again.  —  Wisconsin's contested Supreme Court race has set in motion a drama that's by now almost painfully familiar.  It goes something like this: A hard-fought election comes down to a few troublesome precincts.