After years of tax cuts and a big hike in defense spending, deficits were rising. Then came a bitter battle over the debt limit. Three senators came up with a plan: Unless Congress and the White House could get the deficit under control, this thing called "sequestration" would do it for them.
The battle between an American capitalist and a French socialist official has prompted chuckles — and heated debate — on both sides of the Atlantic. The exchange highlights some humorous stereotypes and reveals real differences between the economic cultures of France and the United States.
A leaked letter from Maurice Taylor, CEO of the Illinois-based Titan tire company, ignited the controversy. In it, Taylor, regarded by the French as a hardcore capitalist, addressed Arnaud Montebourg, France's flamboyant, leftist industrial renewal minister.
Several states are rushing to establish a foothold in online gambling — an activity that federal officials were only recently trying to ban.
Just a while ago, the federal government actually viewed online gambling as a crime. Lately, the Obama administration has taken a more permissive stance. It now allows states to sell lottery tickets online.
New Jersey Gov. Chris Christie had expressed reservations about online gambling a month ago and had vetoed an earlier version of the bill. But in the end, the pressure to sign the legislation was just too great.
Today, in Almaty, Kazakhstan, Iran and six world powers including the U.S. wrapped up two days of talks. No breakthroughs, but Iran is considering a proposal that would impose new restrictions on its nuclear program in exchange for the easing of some economic sanctions. The two sides will return to Kazakhstan for another meeting in early April. NPR's Peter Kenyon has this report from the scene of the negotiations.