Obama Gives Republicans A Tough Ultimatum On Taxes  —  With the fiscal cliff rapidly approaching, President Obama was unflinching in his tax stance on Friday, threatening to use his leverage to force Republicans into an unenviable position if they fail to agree to a deal in time.

French Court Says 75% Tax Rate on Rich Is Unconstitutional  —  President Francois Hollande's 75 percent millionaire-tax is unconstitutional because it fails to guarantee taxpayer equality, France's top court ruled today.  —  The tax, one of Hollande's campaign promises …

Nation running out of ammo  —  Reaction to threats by Senator Dianne Feinstein and others to ban certain weapons and serverely restrict ownership of guns generally has caused a run on gun stores, as is widely reported.  —  Less reported is the run on ammunition, leaving ammunition inventories down 93% since election day.

There's Only One Way To Fix The Deficit — And Actually It's Totally Painless  —  People who insist that the US has a gigantic “spending problem” are ignorant of what really drives the deficit and the national debt, as Henry Blodget easily demonstrated in a series of charts.

Claim seeks $100 million for child survivor of Connecticut school shooting  —  Reuters/Reuters - A U.S. flag hangs over stockings left as a memorial for victims of the Sandy Hook Elementary School shooting, along a fence surrounding the Sandy Hook Cemetery in Newtown, Connecticut December ...more

At Least 15 Killed in Sect Attack in North Nigeria  —  Gunmen suspected to belong to a radical Islamist sect attacked a village in northeast Nigeria, tying up men, women and children before slitting their throats, killing at least 15 in the troubled region's latest attack, witnesses said Saturday.

New York newspaper to list more gun permit holders after uproar  —  Reuters/Reuters - A small portion of guns that were turned in by their owners are stacked inside a truck at a gun buyback held by the Los Angeles Police Department in Los Angeles, California, December 26, 2012 ...more

Should People Be Forced to Buy Liability Insurance for their Guns?  —  The latest gun-control idea is forcing owners to buy liability insurance.  That may help a few victims, but it won't stop crime, writes Megan McArdle.  —  Novel gun control ideas continue to percolate through the commentariat.

Egypt to pursue relationship with Hezbollah  —  In shift from Mubarak-era policy, Egyptian ambassador to Lebanon says Brotherhood-dominated Egypt will engage terror group.  —  In a dramatic policy shift, Egypt will seek to forge “tight” relations with Hezbollah, Egyptian Ambassador …