It seems inevitable that the deal to resolve the fiscal cliff will involve a tax increase on the highest earners. As my colleague Deborah Solomon pointed out this month, that may create an accidental legacy for Mitt Romney: A proposal he threw out off the cuff during the presidential campaign to limit itemized deductions is a plausible compromise that would raise revenue without raising tax rates.
President Barack Obama traveled to Oklahoma -- the heart of Republican territory -- to beat back criticism that his administration's energy policies are driving up gas prices, announcing an expedited review of a portion of a controversial oil pipeline.
Washington's penchant for high-stakes drama is now manifesting itself in another fight over the debt limit, with some top Democrats suggesting that President Barack Obama should invoke the 14th Amendment and raise the $16.4 trillion debt ceiling unilaterally.
Four years after the federal government came to its rescue, American International Group Inc. is on such strong footing that the U.S. government will soon become a minority shareholder in the giant insurer. The government may actually recoup its investment of $182 billion.
President Barack Obama stopped by a Nevada solar facility Wednesday to promote his administration's renewable energy efforts -- just a day after the Commerce Department said it would slap tariffs on Chinese imports of solar panels.