Topic: Pat Toomey

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Could 'fiscal cliff' push US into recession? Five questions answered.

The nonpartisan Congressional Budget Office (CBO) warned in a report Tuesday that if Congress does not deal with a raft of fiscal measures by Dec. 31, the US could enter another recession. So what is this fiscal cliff and what is Congress doing about it?
Marco Rubio & 9 likely Republican VP candidates

Too soon to start speculating about possible Republican vice-presidential candidates? Evidently not. Mitt Romney's rise to the level of presumptive presidential nominee seems to have given political writers and pundits the go-ahead to begin one of the favored handicapping contests in all of politics.
In Pictures: Who's who on the US deficit super committee
Out of options in debt ceiling talks? Nope, here are five.

How many ways are there to resolve the debt ceiling crisis? Frustration is mounting in both political parties as an Aug. 2 deadline looms to avoid default on America's debt obligations and deficit-reduction negotiations are gridlocked. Still, at least five options for handling the matter have been discussed in recent days and months. Other possible solutions may emerge, but here’s the state of play on the options to date.
Senate's 16 new members arrive on Capitol Hill: Who are they?

Starting this Monday, the Senate welcomes 16 fresh faces to the Capitol’s marbled halls.

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Tea party drools over Ted Cruz, but can he survive Texas primary?

Ted Cruz is running for the US Senate seat being vacated by Kay Bailey Huchinson, and in many ways he's the ideal tea party candidate. But his best hope Tuesday is to force a runoff.
Could 'fiscal cliff' push US into recession? Five questions answered.

The nonpartisan Congressional Budget Office (CBO) warned in a report Tuesday that if Congress does not deal with a raft of fiscal measures by Dec. 31, the US could enter another recession. So what is this fiscal cliff and what is Congress doing about it?
Senate Republicans plead for a budget as frustrations boil over

Senate Republicans proposed five budgets Wednesday, but the Democratic-controlled Senate defeated them all. Republicans say Democrats are punting on tough choices, Democrats say they already have a budget.
Marco Rubio & 9 likely Republican VP candidates

Too soon to start speculating about possible Republican vice-presidential candidates? Evidently not. Mitt Romney's rise to the level of presumptive presidential nominee seems to have given political writers and pundits the go-ahead to begin one of the favored handicapping contests in all of politics.
Why Rick Santorum could lose in Pennsylvania, his home state

Rick Santorum is leading in Pennsylvania polls now. But Pennsylvania fits the profile of states that Mitt Romney has won.
At CNN debate, Rick Santorum skewered over 'bridge to nowhere'

GOP presidential hopeful Rick Santorum took a pounding from rivals over his Senate record, during the CNN debate Wednesday. MItt Romney reminded voters of Santorum's vote for the so-called 'bridge to nowhere.'
On the Economy
Obama tried to help the budget supercommitte. Really.

In September, the president proposed a budget to the supercommittee that included budget cuts meant  to please Republicans. Yet some say he failed to "reach across the aisle."
Bush tax cuts debate helped to doom super committee effort

Bush tax cuts: A tussle between Republicans and Democrats over the future of the Bush tax cuts played a large role in scuttling the congressional super committee's attempt to reach an agreement on reducing the budget deficit.
Deficit super committee fails: Who's to blame?

The members of the super committee tasked with cutting $1.2 trillion from federal budgets announced that it failed to reach a deal. Polls and newspapers chime in on why that happened.
Six days left: Slowly, for super committee, failure is becoming an option

Republicans and Democrats remain far apart on how much tax hikes should contribute to deficit reduction. The deadline for the super committee to reach a deal is next Wednesday.
Targeting the rich, Obama takes Democrats back to their roots

By saying the rich should pay their 'fair share' in taxes, President Obama is taking up an argument that Democrats have largely avoided for years. With a presidential election and 'supercommittee' budget cuts in the balance, the political stakes could hardly be higher.
In Pictures: Who's who on the US deficit super committee
Can 'super committee' play fair as it tries to control national debt?

The task of reining in the national debt lies in the hands of a super committee of 12, which gets down to business now that Congress is returning from its summer break.
How vulnerable will deficit 'super committee' be to pressure from lobbyists?

With the sweep of the deficit committee's mandate potentially covering every dollar taxed or spent in the federal government, Washington’s lobby community is going on full alert.
Out of options in debt ceiling talks? Nope, here are five.

How many ways are there to resolve the debt ceiling crisis? Frustration is mounting in both political parties as an Aug. 2 deadline looms to avoid default on America's debt obligations and deficit-reduction negotiations are gridlocked. Still, at least five options for handling the matter have been discussed in recent days and months. Other possible solutions may emerge, but here’s the state of play on the options to date.
McConnell's last ditch debt ceiling plan: What's in it for Republicans?

Senate Republican leader Mitch McConnell proposes a 'last choice option' that would allow President Obama to raise the national debt ceiling without GOP support.
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.
Will a personal plea from Geithner sway GOP freshmen on debt ceiling?

Treasury Secretary Timothy Geithner is heading up Capitol Hill to make his case to GOP House freshmen that not raising the debt ceiling could lead to serious economic problems.
Senate Democrats shoot down GOP's House budget plan. Now what?

Wary of the impact on Medicare, five Republicans joined Senate Democrats in defeating the Republican budget plan written by Rep. Paul Ryan. But the Democrats have no plan of their own, and this could hurt them.
Was Obama's speech too tough on Israel? Republican criticism mounts.

Congressional appropriators voiced doubts about some aspects of Obama's speech. But the most pointed criticism was from the GOP. 'Obama has thrown Israel under the bus,' Mitt Romney said.
Congress has plenty of deficit-cutting plans, but can any of them fly?

President Obama met with Senate Democrats on Wednesday, and he will meet with Republicans Thursday in a bid to find a fiscal way forward.
Rebellion in GOP ranks: How Boehner lost control of the House this week

Republican freshman – tea partyers and others – keep breaking ranks, leading to shocking legislative defeats. Now, 87 representatives and 11 senators have written to Speaker of the House John Boehner to insist on $100 billion in budget cuts.
Value added tax: Senate weighs a tax reform Reagan once shunned

As president, Ronald Reagan, was 'not enthused' by the idea of a value added tax (VAT) in America. But at a Senate hearing this week, tax reform experts pushed for it.
Tea Party Caucus in Senate very small, very enthusiastic

Tea Party Caucus: What the caucus and audience lacked in size they made up for in enthusiasm and energy. New Sens. Rand Paul, R-Ky., Mike Lee, R-Utah, and Jerry Moran, R-Kan., fired up the crowd along with Sen. Jim DeMint, R-S.C., by preaching the gospel of deficit reduction
Senate's 16 new members arrive on Capitol Hill: Who are they?

Starting this Monday, the Senate welcomes 16 fresh faces to the Capitol’s marbled halls.