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Senate leaders of both parties say they've reached a deal to prevent interest rates on millions of student loans from doubling beginning on Sunday. But House Speaker John Boehner has yet to decide whether the pact will be agreeable to the Republican-run House.

Today President Barack Obama brandished his executive power and defied Republican opposition to name Richard Cordray as the first director of the new Consumer Financial Protection Bureau. Infuriated Republican leaders in Congress say the appointment could be deemed illegal by the courts.

President Obama, new French President Francois Hollande and other political leaders have called for less "austerity" as a way to help the troubled economies on both sides of the Atlantic. That's the polite way of saying they want more government spending and larger deficits.