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House GOP fails to pass balanced budget amendment

By Andy Sullivan WASHINGTON (Reuters) – A measure that would amend the Constitution to require the government to balance its books each year fell short in the Republican-controlled House of Representatives on Thursday. By a vote of 261 to 165, largely along party lines, the bill fell short of the…

Rick Perry to propose flat tax as part of economic plan

Texas governor and Republican presidential candidate Rick Perry will unveil a national flat tax as part of his economic plan, according to the Washington Post. Perry announced his plan at the Western Republican Leadership Conference in Las Vegas, but gave no details. “A change election requires a new direction, and…

House approves deal to avert U.S. default and cut the federal deficit

The House of Representatives passed an agreement Monday, called the Budget Control Act of 2011, that would raised the debt ceiling until 2013 and cut the federal deficit by about $2.1 trillion over a 10-year period. The two-stage agreement, which was criticized by both tea party lawmakers and progressive Democrats,…

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