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Minnesota legislature approves budget to end shutdown

MINNEAPOLIS (Reuters) – The Minnesota legislature approved on Wednesday in a marathon special session all the budget bills needed to end a state government shutdown that has lasted nearly three weeks. Called to a special session on Tuesday afternoon, the state House and Senate approved all 12 bills put to…

House GOP split into two factions on budget deal

According to a McClatchy report today, the members of the House GOP have split into two camps on the current budget deal, the flexible and the non-flexible. On one side are the long-time Republican House members who see the president’s current deal, which gives them 80 percent of what they…

S&P threatens downgrade of U.S. finance companies

NEW YORK (Reuters) – Standard & Poor’s on Friday raised the pressure on Washington debt negotiators, saying it could downgrade insurers, securities clearinghouses, mortgage agencies and a laundry list of other firms if there is not a deal soon to lift the debt ceiling and cut the deficit. The ratings…

Obama demands debt decision as global alarm spreads

US President Barack Obama was to address the nation Friday after giving divided lawmakers 24-36 hours to strike a deal to avert a possible August debt default that has sparked global alarm. After days of tense negotiations and downgrade warnings from credit ratings agencies Moody’s and Standard & Poor’s, Obama…

Poll: Americans blame Bush for bad economy by wide margin

By a wide margin, more Americans blame former President George W. Bush for the national economic outlook than they do President Barack Obama, according to a new poll. Numbers out of Quinnipiac University Thursday morning indicated that 54 percent of Americans say Bush is to blame for exploding the federal…

Global warnings intensify stakes of debt rift

President Barack Obama and Republicans prepared for more tough talks Thursday to avert an August debt default, after Moody’s held out the threat of downgrading the sterling US credit rating. The credit ratings agency sparked worldwide concern when it placed Washington’s triple-A debt rating on a downgrade watch because of…

Obama walks out of debt-limit talks, tells Cantor ‘don’t call my bluff’

President Barack Obama stormed out of tense debt-limit talks Wednesday with his top Republican foes after declaring he was ready to stake his reelection on the outcome, a Republican aide said. Obama needs the Republican-led House of Representatives and Democratic-held Senate to sign off on a deal to close the…

Bancroft family members regret sale of Wall Street Journal to Rupert Murdoch

A number of key members of the family which controlled The Wall Street Journal say they would not have agreed to sell the prestigious daily to Rupert Murdoch if they had been aware of News International’s conduct in the phone-hacking scandal at the time of the deal. “If I had…

U.S. debt default would trigger global ‘crisis’: Bernanke

US central bank chief Ben Bernanke warned Wednesday that a US debt default would trigger a “major crisis” in the global economy, as the White House and its Republican foes groped for a budget deal. “Clearly, if we went so far as to default on the debt, it would be…

Deal may speed protections for imperiled species

SALMON, Idaho (Reuters) – The government would have until 2018 to decide whether to extend Endangered Species Act protections to hundreds of imperiled animals and plants under a deal with environmentalists submitted on Tuesday for approval by a federal judge. The agreement between the Arizona-based Center for Biological Diversity and…

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