Obama to nominate Hagel for defense secretary: Democratic aide

WASHINGTON (Reuters) - President Barack Obama will nominate former Republican Senator Chuck Hagel to be his defense secretary and an announcement could come on Monday, sources familiar with the nomination process said. The choice will likely set up a confirmation battle in the Senate over whether the former Nebraska senator and Vietnam veteran is a strong enough supporter of key U.S. ally Israel ...

U.S. Economy Adds 155,000 Jobs in December; Can We Expect a Better Labor Market in 2013?

With the Labor Department’s announcement today that the U.S. economy added 155,000 jobs in December and that the unemployment rate held steady at 7.8%, one comes to a depressing realization: The average monthly job creation in 2012 of 153,000 jobs was exactly the same as it was in 2011. Depending on whom you ask, this number is either right around what is needed to keep up with the growth of the ...

U.S. Congress could act quickly to pass any "fiscal cliff" deal

WASHINGTON (Reuters) - The U.S. Congress, when it moves at all, moves slowly. But when its back is against the wall, as it will be on any deal to resolve the year-end "fiscal cliff," it can be very efficient. For example, barely two days separated the announcement of a deal on the debt ceiling on July 31, 2011, and its enactment on August 2. That required limits on the time for debate and a ban ...

House to observe moment of silence for Newtown

The House of Representatives will pause late Monday for a moment of silence to honor the 20 children and six adults killed in the mass shooting in Newtown, Conn., Republican House Majority Leader Eric Cantor announced. Cantor made the announcement on Twitter. "Tonight, the House will observe a moment of silence in honor of the [...]