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Reid Delays Senate Vote To Give Debt Negotiators More Time

Posted: 07/31/2011 - Senate Majority Leader Harry Reid announced Saturday night that he was delaying a vote on his deficit-cutting bill until 1 p.m. Sunday in order to give negotiators more time to reach an accord on raising the debt limit.

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Debt-Limit Deadlock After Senate Kills Boehner Bill

Posted: 07/30/2011 - Lawmakers who said they were determined to avoid an unprecedented government default remained at an impasse over the raising the nation's debt limit Saturday as prospects of economic chaos loomed.

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Bank Of America Hit With New Countrywide Lawsuit

Posted: 07/29/2011 - Bank of America Corp. is facing a new lawsuit filed by a group of shareholders of mortgage giant Countrywide Financial Corp., which the bank bought in 2008.

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Benefit Recipient? Disruptions May Be Coming

Posted: 07/29/2011 - If the day comes — whether next Tuesday or later — when the government reaches its legal borrowing limit, it will be forced to make a 40 percent cut in outlays.

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Wealth In America: Whites-Minorities Gap Is Now A Chasm

Updated: 07/27/2011 - As Congress and the White House wrestle whether to raise taxes for the wealthiest Americans, a new analysis of Census data shows that the wealth gaps between whites and blacks and Hispanics widened dramatically during the recession.

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Boehner Misses Cuts Target, Postpones Deficit Vote

Posted: 07/27/2011 - House GOP leaders have postponed a vote on a plan to trade more than $1 trillion in spending cuts for an increase in the government's borrowing cap that would be nearly as large.

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US Government Ends Chrysler Investment

Posted: 07/22/2011 - The Treasury Department said Thursday it has exited its investment in Chrysler LLC after Italian automaker Fiat SpA purchased the U.S. government's remaining holdings in the auto company.

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Homebuilding Leaps, Led By Condo Construction

Posted: 07/20/2011 - Housing starts rose more than expected in June to touch a six-month high and permits for future construction unexpectedly increased, a government report showed on Tuesday, likely reflecting growing demand for rental apartments.

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Home Building Spikes In June

Posted: 07/19/2011 - Builders broke ground on more single-family homes and apartments in June, as the home-building industry tried to shake off a historically bad spring.

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Minn. Governor, GOP Reach Deal To End Shutdown

Posted: 07/15/2011 - Minnesota Gov. Mark Dayton and top Republicans agreed Thursday to end a budget impasse that prompted the longest state government shutdown in recent history, after the Democratic governor surrendered on raising taxes.

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Obama-GOP Debt Talks Get Tense At White House

Posted: 07/14/2011 - Tensions rose to the boiling point at a White House summit on the debt ceiling and budget talks on Wednesday, with House Republicans accusing President Barack Obama of abruptly walking out and Democrats painting GOP leaders as incalcitrant and irresponsible.

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President Obama Not Giving Up On Big Debt Reduction Deal

Updated: 07/10/2011 - President Barack Obama hasn't given up on getting congressional leaders to accept a $4 trillion debt reduction deal that Republicans have rejected for its tax increases and Democrats dislike for its cuts to programs for seniors and the poor.

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Boehner: Big Deficit Reduction Deal Won't Work

Posted: 07/10/2011 - House Republican budget negotiators have abandoned plans to pursue a massive $4 trillion, 10-year deficit reduction package in the face of stiff Republican opposition to any plan that would increase taxes as part of the deal.

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FHA Gives Jobless Homeowners One-Year Break

Posted: 07/08/2011 - The Obama administration is making it easier for out-of-work homeowners to stay in their homes, as it tries to revamp its troubled foreclosure-prevention program.

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