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As the White House and Congress debate taxes and entitlement reform, an influential liberal think tank is offering what appears to be an olive branch: a plan to squeeze savings out of Medicare — long a target of GOP cuts — that Democrats can support.

The newly re-elected president indicated that he, not congressional Republicans, reflected more of the popular will, with his call for higher taxes on the wealthy as part of any agreement to avert the fiscal cliff.

Famous for processed treats like Twinkies, Hostess Brands says it will go into liquidation if striking bakers don't return to work Thursday. Analysts say the company's most iconic brands would likely be bought by other companies.

The election thumping Republicans got Tuesday at the hands of Latino voters was severe. To formulate a fix for what went wrong, the party will need help from influential Republicans like former Florida Gov. Jeb Bush and Florida Sen. Marco Rubio.

From higher payroll taxes to automatic cuts in military spending, the looming budget crisis could drag the economy back into recession and create turmoil in the financial markets, economists say. To better understand what's at stake, have a look at some of the key phrases involved in the crisis.

Two authors and former members of the U.S. military tell their stories. Benjamin Busch remembers his grandfather's silence about serving in World War II, while David Abrams reflects on the terrifying beginning of his deployment to Iraq.

Boardwalks are the commercial anchors of many beach towns. But as a result of Hurricane Sandy, boardwalks in New Jersey towns like Seaside Heights and Belmar lie buckled and shredded. Now, the people there are assessing the damage and figuring out what it will take to rebuild.

People hoping to save a few dollars by choosing insurance with low upfront costs may be losing out. Hospitals and other health care providers sometimes fail to apply discounts when individuals, rather than insurers, are paying the bills.

The retired four-star general was on a fast track from an early age. David Petraeus was a West Point graduate with a doctoral degree from Princeton, who made a national name for himself by helping the Army rethink how it fights wars. Petraeus resigned as CIA director Friday, citing an extramarital affair.

Spain's slumping economy has sent thousands of people, many of them immigrants, scrounging in trash bins. Some scour the garbage for food, but many others are involved in a black-market trade for recycled materials.