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.
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 and House Speaker John Boehner must enjoy the art of haggling. How else to explain the painfully long, drawn-out negotiations over a fiscal-cliff deal whose parameters are by now well-known?
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.
Speculation is building over who might replace Tim Geithner as Treasury secretary if President Barack Obama wins a second term. Less attention is being paid to what Geithner -- who's made no secret of his plans to leave -- might do next.