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Gallery: Election day 2010

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Decoder Wire
Why Americans Elect failed to find a presidential candidate

After raising millions of dollars to boost a centrist candidate for president, the nonprofit Americans Elect has given up. But there's more involved than just a nation unready for a third party.
US Postal Service to close 140 mail processing centers

The US Postal Service will close 48 mail sorting facilities in August, and the rest will close next January and February, the Postmaster General announced Thursday.
JPMorgan Chase trading fiasco: What to do about big banks?

JPMorgan's loss of $2 billion shows that the forces that unleashed the recession remain partially untamed – and that Congress is still struggling to get a handle on the solution.
The Daily Reckoning
Increasing debt to avoid depression only benefits the wealthy

Protecting the nation from another economic depression only serves to protect financial insiders at the expense of outsiders
Seven days left: Is super committee ball now in Democrats' court?

Following a GOP proposal on the deficit-cutting 'super committee' to raise tax revenues, Republicans say it's the Democrats' turn to show they're serious by making cuts in entitlement spending.
Economic recovery 'close to faltering,' Ben Bernanke tells Congress

Federal Reserve Chairman Ben Bernanke offers sobering data to Congress about the weak economic recovery and gives little hope of an imminent turnaround.
Hurricane Irene by the numbers: state by state damage reports

Federal officials began to survey the damage caused by hurricane Irene – from continued power outages to communities still stranded by floodwaters.
For debt-ceiling deal to become law, what needs to happen by Tuesday

Selling the debt-ceiling deal to a critical mass of lawmakers is a formidable political reach. Many conservatives say the deal doesn’t go far enough, while some liberals say the richest Americans should have to pay more taxes.
Fuel efficiency: Will new rules cure US addiction to foreign oil?

President Obama on Friday unveiled fuel-efficiency standards of 54.5 miles per gallon by 2025 – a significant step in dealing with emissions and oil consumption.
Social Security: the political monster that lurks in debt talks

Long the "third rail" of politics, Social Security has emerged as a part of bipartisan talks aimed at stabilizing America's public debt. Will it finally be restructured to reflect today’s economy?
White House insists taxes must be part of the debt and deficit solution

As debt talks shift to Obama, GOP Speaker John Boehner, and Democratic Senate leader Harry Reid, taxes remain the logjam. No one wants to be seen as giving ground on that issue too quickly.
Why the latest round of debt talks ground to a halt

On Monday, President Obama and Vice President Joe Biden will hold meetings with Sens. Harry Reid and Mitch McConnell to discuss the status of the debt talks.
Congress stalls out on budget and deficits. What next?

Talks broke down on key fronts this week as an impasse appeared on cutting spending and raising taxes. That leaves bipartisan leadership talks, chaired by Vice President Biden, as the main venue for a deal that could pass both the House and Senate.
All eyes on GOP House freshmen in budget impasse. Will they budge?

The Senate on Wednesday rejected both the big budget cuts of the House bill and the much smaller cuts of a Senate alternative. The ball is once again in the court of the 87 GOP House freshmen elected on last year's tea party wave.
Fed basher Ron Paul should focus on outcome, not process

Rep. Ron Paul wants to reform how monetary policy is made. Other reformers suggest looking at policy outcomes.
Obama tax deal gets nod from Senate. Will House risk making changes?

Senators vote to end debate on GOP-Obama tax deal, clearing the way for its passage. Attention now shifts to the House, where liberal Democrats are expected to discuss revisions.
The Vote
Lesson for Obama: Don’t give the microphone to Bill Clinton

Obama may be having second thoughts about Bill Clinton's joining him for an impromptu press conference about the tax cut deal with Republicans. The former president talked on ... and on.
Stefan Karlsson
Tax deal: Obama blinked first, but everybody got something

In the political game of chicken that the tax cuts debate became, Obama may have blinked first, but he secured unemployment benefits extensions and other Democratic priorities.
The Vote
Bush tax cuts: Could liberal Democrats block Obama's compromise?

Democrats have the votes to block the president's compromise with Republicans on extending the Bush tax cuts. But many might have to accept that with Republicans set to gain more power in Congress next year, this is the best deal they're likely to get.
Federal Reserve's 'astounding' report: We loaned banks trillions

The Federal Reserve offers details on the loans it gave to banks and others at the height of the financial crisis. One program alone doled out nearly $9 trillion.
Obama to meet GOP leaders: Should Democrats be worried?

President Obama will meet with GOP leaders from the House and Senate Tuesday for the first time since Election 2010. Some Democrats worry that he could be too willing to compromise.
Gallery: Election day 2010
The Vote
Social Security: Alan Simpson offends almost everyone with 'cow' quip

Social Security is a touchy subject. Alan Simpson, co-chair of Obama's deficit commission, has a colorful mouth and lots of things to say about Social Security. Put the two together and 'poof!' another political brush fire for Obama.
Estate tax bills take aim at a growing 'aristocracy of wealth'

The Senate has so far failed to pass an estate tax bill, allowing the tax to expire this year. Two new proposals, though, aim to reintroduce the estate tax and could generate billions in revenues.
Sen. Barbara Boxer and other Democrats want criminal probe of Gulf oil spill

Senator Barbara Boxer of California, along with other Senate Democrats, wants the US Justice Department to begin a criminal investigation of the Gulf oil spill off the coast of Louisiana.