California lawmakers were poised to miss their constitutional deadline on Monday for a state budget, bringing the state's government closer to running out of cash.
Democrats and Republicans in the legislature's budget conference committee worked through Monday afternoon on a variety of proposals addressing Gov. Arnold Schwarzenegger's plan to close a $24.3 billion budget shortfall, but they failed to find common ground on its most dramatic proposal: eliminating the state's welfare system.
CIA director Leon Panetta says it's almost as if former vice president Dick Cheney would like to see another attack on the United States to prove he is right in criticizing President Barack Obama for abandoning the "harsh interrogation" of terrorism suspects.
"I think he smells some blood in the water on the national security issue," Panetta said in an interview published in The New Yorker magazine's June 22 issue.
When President Barack Obama increased unemployment benefits as part of his economic stimulus, he also made some Americans ineligible for hundreds of dollars a month in food stamps.
Under the economic recovery plan, laid-off workers have seen a $25 weekly bump in their unemployment checks as part of a broad expansion of benefits for the poor. But the law did not raise the income cap for food stamp eligibility, so the extra money has pushed some people over the limit.
An elderly man enters a crowded museum carrying a rifle and begins shooting. A young man in Arkansas pulls the trigger outside a military recruiting office. Another man opens fire in a Kansas church.
Three chilling, unconnected slayings in less than two weeks. One gunman was a white supremacist, one a militant Muslim, one a fervent foe of abortion.
Iranian President Mahmoud Ahmadinejad said Sunday his re-election was "real and free" and cannot be questioned — despite accusations of mass voter fraud.
Ahmadinejad made the comments Sunday during a press conference — his first since the government announced that he was re-elected to a second term in a landslide victory during Friday's vote.
A frustrated artist and an angry man, the suspect in the U.S. Holocaust Memorial Museum shooting once tried to kidnap members of the Federal Reserve board, a "caper" thwarted when a guard captured him outside a board meeting carrying a bag stuffed with weapons.
James von Brunn, 88, a white supremacist and Holocaust denier, describes the assault with apparent pride on his Web site, the source of fulmination against Jews and races other than his own.
The World Health Organization declared a swine flu pandemic Thursday — the first global flu epidemic in 41 years — as infections in the United States, Europe, Australia, South America and elsewhere climbed to nearly 30,000 cases.
The long-awaited pandemic announcement is scientific confirmation that a new flu virus has emerged and is quickly circling the globe. WHO will now ask drugmakers to speed up production of a swine flu vaccine. The declaration will also prompt governments to devote more money toward efforts to contain the virus.
Congressional investigators say they have seen internal documents that prove the Federal Reserve threatened to force the ouster of Bank of America CEO Kenneth Lewis if he didn't follow through with plans to buy Merrill Lynch & Co.
None of the documents reviewed by staff, however, showed that the government explicitly instructed Bank of America to hide Merrill Lynch's losses from shareholders.
California's government risks a financial "meltdown" within 50 days in light of its weakening May revenues unless Governor Arnold Schwarzenegger and lawmakers quickly plug a $24.3 billion budget gap, the state's controller said on Wednesday.
Underscoring the severity of California's cash crisis, Controller John Chiang, who has previously warned the state's government risks running out of cash without a budget deal, said revenues in May fell by $1.14 billon, or 17.7 percent, from a year earlier.
The slumping US economy is showing only spotty signs of recovery, with overall conditions still weak, the Federal Reserve said in its Beige Book report Wednesday.
The central bank said reports from its 12 districts from mid-April through May "indicate that economic conditions remained weak or deteriorated further during the period."
Echoing a comment from its April Beige Book, the Fed said that "five of the districts noted that the downward trend is showing signs of moderating."