South Korea’s Lee says trade deal key test of U.S. will

SEOUL (Reuters) – South Korean President Lee Myung-bak said on Wednesday the United States will be sending an important message on its commitment to free trade if it finally advances a pact it signed with Seoul on opening their markets. Read the full story from Reuters

Tea Party calls for "fiscal sanity" in Washington

WASHINGTON (Reuters) – Tea Party-backed Republicans who won at congressional elections on Tuesday vowed to bring their uncompromising politics to the debate over government spending and deficits. Read the full story from Reuters

Obama and Boehner discuss priorities in phone call

WASHINGTON (Reuters) – President Barack Obama called John Boehner, the likely next Speaker of the House of Representatives, to discuss priorities and common ground between Democrats and Republicans after Tuesday’s election. Read the full story from Reuters

Stalemate seen in Congress on banking and housing

WASHINGTON (Reuters) – Republicans grabbed the steering wheel of the U.S. House of Representatives on Tuesday, but weren’t expected to get out of the driveway when it comes to restraining Wall Street reforms and fixing housing finance. Read the full story from Reuters

Harry Reid hangs on to win in Nevada

Harry Reid hangs on to win in Nevada

Senate Democratic Majority Leader Harry Reid won re-election in Nevada against Republican Sharron Angle in a tight race, Fox News projected on Wednesday, a blow to Republicans who had hoped to oust him. Republicans had targeted Reid and poured millions of dollars into Angle’s campaign, which was also backed by the conservative Tea Party group. […]

Split Congress could mean more gridlock on Capitol Hill

Split Congress could mean more gridlock on Capitol Hill

Republicans grabbed the steering wheel of the U.S. House of Representatives on Tuesday, but weren’t expected to get out of the driveway when it comes to restraining Wall Street reforms and fixing housing finance. A political standoff lies ahead for two years on key banking and housing issues as election returns showed Democrats losing control […]

Republican Cantor vows to repeal health reform

WASHINGTON (Reuters) – Representative Eric Cantor, who is likely to become majority leader in the new Republican-led House of Representatives, vowed on Tuesday to repeal healthcare reform and cut federal spending. Read the full story from Reuters

Republican Rand Paul wins Kentucky Senate seat

WASHINGTON (Reuters) – Republican Rand Paul, a favorite among the conservative Tea Party movement, won a Senate seat in Kentucky on Tuesday over Democrat Jack Conway, NBC and CNN projected. Read the full story from Reuters

Bush considered replacing VP Cheney: memoir

WASHINGTON (Reuters) – Former President George W. Bush once considered replacing Vice President Dick Cheney, Bush says in a revealing memoir in which he offers advice on the U.S. economy and admits mistakes on Iraq and Katrina. Read the full story from Reuters