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Senate kills competing spending cut bills

WASHINGTON (Reuters) – The Senate defeated a pair of spending-cut bills on Wednesday — a Republican plan for nearly $60 billion in reductions and a far smaller Democratic alternative — increasing pressure on both sides to cut a bipartisan deal. Read the full story.
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GOP’s Shelby roughs up Fed nominee Diamond

WASHINGTON (Reuters) – The top Republican on the Senate banking panel on Tuesday made clear he still opposes Federal Reserve nominee Peter Diamond, calling him an “old-fashioned” Keynesian supporter of big government. Read the full story.
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NPR chief resigns amid controversy

WASHINGTON (Reuters) – The head of National Public Radio resigned on Wednesday after the organization’s chief fund-raiser was secretly videotaped criticizing conservatives and questioning whether NPR needs its government funding. Read the full story.
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Libya a serious test for Obama

A month shy of his election in 2008, presidential candidate Barack Obama outlined a doctrine for American military force that included crises in which the United States has a “moral obligation” to intervene. As commander in chief, he soon will have to decide whether Libya fits the bill. Obama is facing the sternest test yet of his philosophy of humanitarian intervention, which he has described as an imperative to prevent atrocities against civilians. Libyan leader Moammar Gadhafi‘s brutal suppression of protests and crackdown on opponents to his 42-year rule may fall short of Obama’s criteria for military action, but the
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Senate may kill both Democratic, GOP budgets

In a demonstration of official Washington’s often curious logic, the Senate is expected to vote down both a slashing GOP budget bill and a less painful Democratic plan to demonstrate progress instead of gridlock. The idea is to show both sides that they need to move toward each other to break a bitter stalemate over how much to cut spending as Congress wraps up last year’s unfinished budget work. The combatants are facing a March 18 deadline that already has Republicans in the House drafting another stopgap spending measure to make sure the government doesn’t shut down if a broader
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