When asked if he would modify his position on the Bush-era tax cuts to only increase taxes on those making at least $1 million, President Obama on Monday said the country simply could not afford it. 

Sen. Mike Johanns (R-Neb.) criticized President Obama for failing to follow through on moving U.S. free trade agreements that have been awaiting action since President George W. Bush was in office. 

"The president has repeatedly stated his support for the three pending free trade agreements, including during the State of the Union Address, yet 233 days later they continue to sit idle," the senator said in prepared remarks. 

The economic downturn lasted from December 2007 until June 2009, according to the National Bureau of Economic Research.

House Republican Conference Chairman Mike Pence (R-Ind.) on Monday said that the country has benefited from the Tea Party by helping to make congressional spending a campaign issue. 

The Treasury Department on Monday announced a secondary public offering of over 52 million warrants for common shares in The Hartford Financial Services Group Inc.

Sen. Ted Kaufman (D-Del.) sees no room for compromise with Republicans on the issue of the tax cuts.

House Republican Whip Eric Cantor (R-Va.) on Monday warned Democratic leaders that his party would not back down from calls to continue all tax cuts enacted under President George W. Bush.

Senate Budget Chairman Kent Conrad (D-N.D.) said he would be happy to work with senators to “put in place an effective plan” for reforms.

While that prospect does not sit well with many Washington insiders, it dovetails well with the mantra of fewer taxes, less government.