It's an anniversary that most Americans can celebrate — the birthday of the big-box store. Discount shopping as we know it began 50 years ago. In 1962, enterprising retailers invented Wal-Mart, Target and Kmart.
The White House and Congress continue to work on a deal that avoids the fiscal cliff and cuts deficits in the long run. One of the biggest hurdles is President Obama's proposal to raise tax rates for the wealthy.
Republicans think a better course would be to raise revenue by closing loopholes and limiting deductions for high-income people. The question is, could that method raise enough money.
President Obama is now about to enter into a series of difficult talks on the so-called debt ceiling and the impending fiscal cliff. Lawmakers have until Dec. 31 to come up with a deal to prevent $700 billion from being cut from the federal budget.