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The cost-cutting battles begin

Congressional Republicans say they want to cut federal spending by raiding $45 billion from President Barack Obama‘s politically unpopular economic stimulus program. But they won’t be able to get their hands on most of that money. At most, only about $7 billion of the $814 billion in economic recovery money awarded under the 2009 federal law hasn’t already been spoken for, according to the latest White House estimates. And Republican leaders now acknowledge they would be lucky to identify as much as $5 billion in stimulus-related spending cuts as part of a plan to save taxpayers $2.5 trillion over 10
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Stimulus savings? Forget it: It just ain’t there

Congressional Republicans say they want to cut federal spending by raiding $45 billion from President Barack Obama’s politically unpopular economic stimulus program. But they won’t be able to get their hands on most of that money. At most, only about $7 billion of the $814 billion in economic recovery money awarded under the 2009 federal law hasn’t already been spoken for, according to the latest White House estimates. And Republican leaders now acknowledge they would be lucky to identify as much as $5 billion in stimulus-related spending cuts as part of a plan to save taxpayers $2.5 trillion over 10
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Jobs report should show modest gains

Economic growth is gaining momentum, with factories busy and service firms expanding, but one critical area still lags: job creation. The Labor Department will issue its January jobs report Friday, and economists are forecasting that it will show only modest hiring. Employers are expected to add a net total of 146,000 new jobs. That’s barely enough to keep up with population growth. The unemployment rate is likely to tick up to 9.5 percent from 9.4 percent in December. Some analysts are more optimistic and think the job gains could be larger, after several positive economic reports were released Thursday. The
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Protests continue in Cairo’s central square

Protesters demanding President Hosni Mubarak‘s ouster packed Cairo’s central square by the tens of thousands Friday, waving Egyptian flags, singing the national anthem and cheering, appearing undaunted and determined after their camp withstood two days of street battles with regime supporters trying to dislodge them. Thousands including families with children flowed over bridges across the Nile into Tahrir Square, a sign that they were not intimidated after the protesters fended off everything thrown at them by pro-Mubarak attackers — storms of hurled concrete, metal rebar and firebombs, fighters on horses and camels and automatic gunfire barrages. The protesters passed through
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The Internet IP warehouse is empty

The global warehouse for Internet addresses has run empty. The non-profit Internet Corporation for Assigned Names and Numbers (ICANN) doled out its last five batches of “IP” numbers that identify destinations for digital traffic. “A pool of more than four billion Internet addresses has been emptied this morning,” ICANN chief Rod Beckstrom said at a Miami press conference. “It is completely depleted. There are no more.” He brushed aside fears of modern life being devastated by an “IPocalypse,” saying Regional Internet Registries (RIRs) worldwide will be doling out remaining addresses to support a shift to a bountiful new “IPv6” format.
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Obama supporter a failure as ambassador

As a supporter of presidential candidate Barack Obama, Cynthia Stroum was a superstar whose financial backing of the campaign landed her a plum diplomatic posting in Europe. As America’s ambassador to Luxembourg, the wealthy Seattle-based businesswoman was a disaster. According to an internal State Department report released Thursday, less than a week after she quit, Stroum’s management of the U.S. Embassy in the tiny country was abysmal. The report says her tenure of about one year was fraught with personality conflicts, verbal abuse and questionable expenditures on travel, wine and liquor. Stroum’s case illustrates the pitfalls that presidents can face
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U.S. in talks over possible Mubarak departure

WASHINGTON (Reuters) – U.S. officials said on Thursday they were discussing with Egyptians different scenarios for a transition of power, including one in which President Hosni Mubarak leaves office immediately. <a href=\\\"http://feeds.reuters.com/~r/Reuters/PoliticsNews/~3/0vwCIdBKa64/us-egypt-usa-idUSTRE71175920110204\\\" target=\\\"_blank\\\" Read the rest of the story from Reuters News Service.?
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U.S. in talks over possible Mubarak departure

WASHINGTON (Reuters) – U.S. officials said on Thursday they were discussing with Egyptians different scenarios for a transition of power, including one in which President Hosni Mubarak leaves office immediately. <a href=\\\"http://feeds.reuters.com/~r/Reuters/PoliticsNews/~3/0vwCIdBKa64/us-egypt-usa-idUSTRE71175920110204\\\" target=\\\"_blank\\\" Read the rest of the story from Reuters News Service.?
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Republican debt repayment bill "unworkable": Geithner

WASHINGTON (Reuters) – A Republican plan to prioritize debt repayments if the United States breaches its $14.3 trillion borrowing limit is “unworkable”, Treasury Secretary Timothy Geithner said on Thursday. <a href=\\\"http://feeds.reuters.com/~r/Reuters/PoliticsNews/~3/r7YjZfb6wF4/us-usa-debt-treasury-idUSTRE71307G20110204\\\" target=\\\"_blank\\\" Read the rest of the story from Reuters News Service.?
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Republican debt repayment bill "unworkable": Geithner

WASHINGTON (Reuters) – A Republican plan to prioritize debt repayments if the United States breaches its $14.3 trillion borrowing limit is “unworkable”, Treasury Secretary Timothy Geithner said on Thursday. <a href=\\\"http://feeds.reuters.com/~r/Reuters/PoliticsNews/~3/r7YjZfb6wF4/us-usa-debt-treasury-idUSTRE71307G20110204\\\" target=\\\"_blank\\\" Read the rest of the story from Reuters News Service.?
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