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House Speaker John Boehner emerged from a White House meeting Tuesday saying no deal had been reached to avert a government shutdown as early as Friday. President Obama insisted that a deal on current-year funding is still possible this week — as long as all parties involved "act like grown ups" and agree to compromise

President Obama, under increasing pressure to address the nation's burgeoning debt, on Wednesday laid out a sweeping vision to cut government deficits by more than $4 trillion in 12 years through tax increases and spending cuts phased in over time.

For the first time in many decades, Congress appears to be taking a hard look at the nation's deficit problem — one that President Obama plans to address in a speech Wednesday.

Former IMF chief Dominique Strauss-Kahn was freed without bail at a court hearing in New York City, but his passport was retained and he still faces charges of sexually assaulting a hotel maid. The move came after prosecutors reportedly found inconsistencies that raise doubts about the housekeeper's credibility.

The protests continue in Wisconsin this week against Governor Scott Walker's budget repair bill, which would cut collective bargaining rights for public employees. John Nichols of The Nation argues that the real reasons behind the bill show that Wisconsin's political crisis is more serious than it's so-called fiscal crisis.

At the Pentagon, bean counters are working long hours trying to figure out how to cut close to a trillion dollars from the department of defense budget over the next ten years. Part of the defense budget usually protected from budget cuts is health care and retirement benefits, but some argue those benefits are depleting the Department of Defense of funds it needs to function as a top military force.

Newt Gingrich's decisive win in South Carolina ensures that the GOP primary season will remain competitive for weeks to come. He has all the momentum heading into Florida — but Mitt Romney's money and resources may yet turn that state into a firewall.

The networks sought an end to the FCC's ability to regulate indecency on over-the-air networks. The Obama administration contended that Congress intended broadcast licenses to come with an obligation to meet certain decency standards.

This year set a record for recall elections, as 11 lawmakers were forced to defend their seats — and four of them lost. Now Wisconsin Gov. Scott Walker faces an effort to oust him from office. Despite the anti-Walker fervor, though, recall elections usually face long odds.

As Trayvon Martin's parents lead the calls for an arrest in their son's killing, their lawyers have hired a marketing firm, and efforts are under way to establish a nonprofit foundation. Supporters say they want to protect others from injustice.