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Debt Reduction Committee's Deadline Is 1 Week Away

The congressional supercommittee has one week to meet a deadline to cut $1.2 trillion from the federal budget. If next Wednesday's deadline isn't met, automatic across-the-board cuts will be made.

House Panel Votes To End Fannie, Freddie Bonuses

The House Financial Services Committee voted on Wednesday to suspend nearly $13 million in bonuses paid to executives at Fannie Mae and Freddie Mac. The measure would also prohibit future bonuses. The Senate is expected to take up similar legislation.

Perry Plan Would Make Big Changes To Washington

At an Iowa town hall meeting Tuesday, Republican presidential hopeful Rick Perry laid out a plan to, as he put it, uproot and overhaul the federal government. Among other things, Perry would end life-time tenure for federal judges including those on the Supreme Court, and make members of Congress take a 50 percent pay cut.

'Murmurings' Of A Deal On Taxes And Deficit Reduction

But with one week go to before the so-called supercommittee is supposed to announce a deficit-reduction plan, it's still far from certain that the lawmakers will reach that goal.

Gun Violence Survivors Push For Tighter Restrictions

They want lawmakers to narrow loopholes in the background check system for people who buy firearms. Supporters of the legislation say that might have made a difference last January, when a gunman in Tucson, Ariz., killed six people and wounded 13 others, including Rep. Gabrielle Giffords.

Illegal During Watergate, Unlimited Campaign Donations Now Fair Game

The 2012 presidential campaign is already being shaped by new rules for political money. That means corporate involvement in presidential politics on a scale not seen since the Watergate scandal of the 1970s, which ended Richard Nixon's presidency. The key difference: This time, it's legal.