In Deficit Plan, Taxes Must Rise, President Warns -June-29-2011--

In Deficit Plan,

Taxes Must Rise, President Warns

June-29-2011--WASHINGTON — President Obama pressured Republicans on Wednesday to accept higher taxes as part of any plan to pare down the federal deficit, bluntly telling lawmakers that they 

“need to do their job” and strike a deal before the United States risks defaulting on its debt. 

The president said at a news conference on Wednesday that Republicans must agree to end tax breaks for corporate interests. 

Video: Obama on Debt Deal: "Let's Get It Done" 

Republicans, Democrats plotting strategies that will hinder budget agreement 

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Greece parliament prepares for austerity vote--June-29-2011-

Tale of Two Visions for Euro Boils Beneath Greek Crisis Fight

June-29-2011--The longer Greece avoids default, the closer European leaders come to breaking one of their oldest taboos by taking responsibility for the finances of a neighbor. Even as they resist European Central Bank President Jean- Claude Trichet’s call for a “major strengthening” of fiscal ties, European authorities are becoming the biggest holders of Greek debt. That would leave the country a virtual ward of the state, the objection of the bloc’s politicians to sharing sovereignty undercut by their own efforts to save the euro.

Video: Greek parliament passes austerity bill

WORLD : Euro Gains After Greece Says 'Yes' To Austerity

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Tearing down the American dream -June-29-20111--

Tearing down the American dream

June-29-20111--When it comes to the American Dream, visions of white picket fences are front and center. But for decades, those fences have been propped up by the government, largely through Fannie Mae and Freddie Mac. And since taking these enterprises over in the wake of the housing crisis, the Federal government is now backing 90 percent of new mortgages. 

The US can no longer afford to prop up the middle class.

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