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Now that president obama has won reelection, the debate in washington has shifted from whether we should raise taxes to how and by how much. This makes sense. With a deficit over a trillion dollars, we will need a combination of increased tax revenues and spending cuts. The president and his allies including robert rubin have made the case that eliminating deductions simply will not get you enough money. You will actually have to raise tax rates. Thats probably true as well. But lets not give up entirely on the issue of deductions and all those other hidden subsidies that the simpsonbowles rep...

Hospital officials now say 24 people were wounded in this mornings bus bombing in tel aviv. No one was killed, though, but since the conflict with hamas began, five israelis have been killed. More than 70 wounded. Witnesses say they saw a man throw the bag into the bus, and run away, and it blew up. Official from both sides at this time yesterday, they actually believe that a ceasefire between israel and hamas was close, but diplomats today, they are furiously trying to get peace talks back on track, but there is still a lot of shock. Theres action newsing other the streets of tel aviv. Want t...

Into gaza. Terms of a potential ceasefire are being brokered by egypt, turkey and qatari officials. Israeli Defense Forces targeted a Media Building in gaza, aiming at four senior hamas operatives they believed were inside. And two people died. It is not clear if they were the ones designated as the hamas targets. Hamas, which grew out of the muslim brotherhood, seized in our gaza in 2007. Since then, the group has become increasingly militarized. The death toll stands at 100 in gaza including women and children. And three in israel. Any others have been wounded on both sides. Israel credits i...

Romney who on a Conference Call with donors attributed his loss to gifts bestowed by president obama. What the president president s campaign did was focus on certain members of his base toolgs, give them extraordinary financial gifts from the government, and then work very aggressively to turn them out to vote. Despite the fact that they supported his positions throughout the entire campaign, a frightened herd of republicans trampled over each other in a stampede away from romneys remarks. Intent on selling a friendlier more compassionate gop, they included bobby jindal who was best known for...

Good evening. There are millions of people in israel and the gaza strip who are spending this night living in fear of rockets and missiles raining down on their homes and neighborhoods as outside parties hurriedly work behind the scenes to stop the exchange fire. Huge explosions rocked gaza with one strike killing at least 11 people. Israel says the targets were palestinian militants, but several of the dead included women and children. But with palestinians continuing to fire rockets into israel and tel aviv in their crosshairs, israel says it is preparing to expand its attacks. Were on the g...