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While most of Washington is focused on confrontations over gun control and immigration law, the White House is quietly exploring the possibility of striking a deal with lawmakers to rein in the budget deficit.
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Less than a week after job-creation figures fell short of expectations and underscored the U.S. economy’s fragility, President Barack Obama will send Congress a budget that doesn’t include the stimulus his allies say is needed and instead embraces cuts in an appeal to Republicans.
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Presidents who enjoy successful second terms usually pull fresh thinking into their inner circles and maintain close working relations with Congress. Barack Obama has shown little inclination to do either.
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President Barack Obama sought to contain political damage by clarifying optimistic comments about the state of the U.S. private sector, saying it is “absolutely clear that the economy is not doing fine.”
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U.S. Representative Barney Frank’s decision to retire at the end of his term will leave House Democrats without one of their most skillful debaters and their chief negotiator on banking and finance.
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Jeffrey Katzenberg, chief executive officer of Dreamworks Animation, donated $2 million to a group founded by former White House aides who are working to help President Barack Obama win a second term.
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The five main Democratic supercommittees are in discussions to consolidate their fundraising efforts to create a clearinghouse for big-dollar donors who want to write a single seven-figure check.
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BAE Systems Plc’s U.S. unit has started briefing Pentagon officials on the company’s plan to merge with European Aeronautic Defence & Space Co. in an effort to preserve its security clearance for defense contracts, according to two people familiar with the talks.
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Dan Houser, the chief financial officer of International Speedway Corp., knows his industry is a potential target for lawmakers scrubbing the tax code for narrow breaks they can eliminate.
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President Barack Obama’s supporters are accustomed to trouncing opponents in every race for campaign cash -- until now.
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