White House and congressional representatives continue talks to avert a default on the federal debt and curb the deficit. One possible deal would reshape the government's fiscal picture for years to come. Read the Article>

The Iowa caucuses are the first big test of the nominating process, but the 2012 caucuses will also provide the first big test in a presidential contest for the Tea Party, which was formed during President Obama's first year in office. Read the Article>

As 2011 began, the budget situation in state capitals looked more dire than just about anybody could remember. States were entering their fourth consecutive year of a fiscal crisis, with $82 billion worth of budget gaps to close. At the same time, budget aid from the federal stimulus program was drying up. Read the Article>

A new CBS News poll shows that Americans have mixed feelings about what should happen to Medicare: While 53 percent say the program needs fundamental changes, 58 percent say it should continue the way it is set up now. Read the Article>

Top lawmakers meeting with Vice President Joe Biden hope to reduce deficits by trillions of dollars over 10 years to give Congress political cover to back an increase in the country's $14.3 trillion debt ceiling. Read the Article>

A group of House Republicans introduced legislation Friday to repeal the 10 percent tax on tanning services, saying the measure included in President Obama's health care reform is a killer for small business owners.

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Republicans know they must improve their Medicare message, but are split on how to do it. Read the Article>

Half the states plan to cut spending on higher education, and nearly a third plan cuts to elementary and high schools. Public assistance and transportation face cuts. Eighteen states have proposed slashing aid to struggling cities and local governments. Some states will raise taxes or fees. Others plan to lay off workers, or cut their salaries or benefits. Read the Article>

Are small-business owners taking advantage of a new tax credit made available last year under the Affordable Care Act? Read the Article>

California, Florida, Illinois, New York and Texas elected five very different governors last fall, but they all agreed on one thing: their capacity to solve their states’ problems. Read the Article>