City leaders ask, 'What can we stop doing?' A new budget forecast shows Minnesota with a $4.57 billion deficit, and the pain is rippling across the state to places like Otter Tail County in west central Minnesota.6:50 a.m.
Sen. McCain Urges Obama To Veto Omnibus Bill
Congress previously passed a stopgap bill that's keeping federal agencies operating at last year's levels through Friday. The House last week bundled those bills into a $410 billion omnibus package that raises domestic spending by 8 percent and has about 9,000 earmarks. The Senate has taken up the measure, and Sen. John McCain has demanded that President Obama veto the measure.
Financial Iron Curtain May Shroud Eastern Europe
In the global economic downturn, fast-growing economies in Eastern Europe have become financial flashpoints. Edward Lucas is Central Europe Correspondent for The Economist magazine. He tells Linda Wertheimer that the countries in the most financial trouble are Hungary, Ukraine and Latvia.
Afghans Face Obstacles In Securing Pakistan Border
A wild and dangerous area, the 1,500-mile-long border Afghanistan shares with Pakistan is providing militants a route to sanctuaries and supplies that Western and Afghan officials want shut down. But doing so is easier said than done.
Julius Genachowski Obama's Pick To Head FCC
The president has named a new chairman of the Federal Communications Commission, which regulates everything from cell phones to cable television to emergency communications to the Internet. Obama has known Genachowski since their student days at Harvard Law.
Sudan's Bashir Faces Arrest On Darfur Charges
The International Criminal Court has issued an arrest warrant for Sudanese President Omar al-Bashir for possible crimes related to Darfur. The panel issued the arrest warrant on charges of war crimes and crimes against humanity, saying their was insufficient evidence to issue charge of genocide. Bashir denies the charges.
Tainted Chinese Dairy Sold At Auction
The contaminated milk scandal in China has taken a new twist. The dairy at the center of the case went up for auction. That raises the question: What do the families of the victims do now?
Police Make Arrests In Cricket Team Attack
Police in Pakistan say they've arrested suspects in an attack Tuesday on the Sri Lankan cricket team. Six policemen and a driver were killed when gunmen opened fire on the team's bus in the city of Lahore. The assault is further proof of Pakistan's deep instability.
GM Needs Assistance For Its European Divisions
A top General Motors executive said if European governments don't pony up some aid, the company's European divisions could run out of cash. In addition, hundreds of thousands jobs could be at risk. GM has asked German state officials for billions in bailout funds. GM also has held talks with government in Britain, Spain and Poland.
Airlines Worried: Fewer Cheeks In Seats
The airline business is seeing more trouble. Stocks in major carriers took a beating Tuesday, because the souring economy has been keeping travelers at home.
White Collar Crime Stains Financial Markets
There appears to be a white collar crime wave. According to Neil Weinberg, executive editor of Forbes Magazine, when the market is up, investors don't ask too many questions. When the market goes down, a wave a fraud come to light. He tells Linda Wertheimer to expect more financial scandals.