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The Two-Way
9:42 am
Tue January 31, 2012

CBO Estimates $1.1 Trillion Federal Deficit

CBO

Originally published on Tue January 31, 2012 10:43 am

Taking into account all the budget legislation passed in the last year, the Congressional Budget Office says the country will run a $1.1 trillion deficit in fiscal year 2012.

The CBO reports that is nearly 7 percent of the United States' GDP, but is "nearly 2 percentage points below the deficit recorded in 2011, but still higher than any deficit between 1947 and 2008."

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The Two-Way
8:41 am
Tue January 31, 2012

For Third Straight Month, Home Prices Dropped In November

Home prices dropped in November for the third consecutive month. Standard & Poor's/Case-Shiller home price index found a drop in 19 of the 20 cities tracked.

The AP reports:

"The biggest declines were in Atlanta, Chicago and Detroit. Phoenix was the only city to show an increase.

"The decline partly reflects the typical fall slowdown after the peak buying season.

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Presidential Race
8:40 am
Tue January 31, 2012

The Slimary Process: Is This The Nastiest Race Ever?

Republican presidential hopefuls former House Speaker Newt Gingrich and former Massachusetts Gov. Mitt Romney debate in Jacksonville, Fla., on Thursday.
Matt Rourke AP

Originally published on Wed May 23, 2012 10:04 am

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The Two-Way
8:20 am
Tue January 31, 2012

Italian Authorities Call Off Search For Missing In Costa Shipwreck

Italian firefighters scuba divers approach the grounded cruise ship Costa Concordia off the Tuscan island of Giglio, Italy on Friday.
Pier Paolo Cito AP

Citing safety concerns, Italian officials said they were calling off the search for those still missing at the site of the Costa Concordia shipwreck.

The AP reports:

"Italy's Civil Protection agency said Tuesday that technical studies indicated that the deformed hull of the ship created too many safety concerns to continue the search. It said in a statement that relatives and diplomatic officials representing the countries of the missing have been informed of the decision.

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