compromise

The cost of the compromise needed to raise the federal debt ceiling will likely inflict more fiscal pain on states still struggling to recover from the recession and the end of federal stimulus spending.

Top Republicans and Democrats worked behind the scenes on Wednesday on a compromise to avert a crippling U.S. default even as they publicly pressed ahead with rival debt plans that have little chance of winning broad congressional approval.

FCC Chairman Julius Genachowski presides over an open-internet meeting in March 2010.

President Obama was on NPR's Morning Edition Friday discussing the compromise on the Bush tax cuts when in response to a listener question about how keeping the tax cut for the rich will create jobs Obama said, "It doesn't, which is why I was opposed to it, and I'm still opposed to it." Obama admitted that he had to compromise because if he didn't he felt that the economic recovery would be endangered.

President Barack Obama on Wednesday rejected claims that he betrayed Democrats by cutting a deal with Republicans on Bush-era tax cuts and implored his party to back the compromise, arguing it could jump-start the economy.

Raising the direst alarm yet, the Obama administration warned fellow Democrats on Wednesday that if they defeat the big tax-cut compromise detested by many liberals, they could jolt the nation back into recession.

One analyst characterized the compromise on the tax deal as something that will put some confidence back in corporate America.

Wall Street is set to rise Tuesday after President Barack Obama forged a compromise with Republicans to extend Bush-era tax breaks for two years.

Carmaker Renault SA on Thursday rejected pleas for handouts by laid-off workers at a French auto parts supplier, offering a compromise that employees said wasn't enough to defuse their threat to blow up their factory.