WYSO-FM: Renee Montagne
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Many Americans could see a bigger bite out of their paychecks unless Congress votes to continue the suspension of the Social Security payroll tax. The tax holiday, enacted to stimulate people to spend money in a bad economy, is scheduled to expire at the end of this year. Senate Democrats plan to try to extend the tax break and pay for it by charging a new tax on the very wealthy.
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President Obama was in Hawaii over the weekend for a summit of Asian-Pacific leaders. Before he left, he made phone calls to the Democratic and Republican chairs of the supercommittee, which is dealing with debt-reduction in Congress.
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After a week of intense political drama played out on the world stage, Greek Prime Minister George Papandreou is expected to step down Monday. He will make way for a coalition government that's supposed to steer the country through austerity measures and save a bailout deal that is widely seen as Greece's last chance to preserve its economy.
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The death of former Libyan ruler Moammar Gadhafi prompted celebrations in neighboring Tunisia. Hundreds of thousands of refugees streamed into Tunisia during Libya's civil war. Tunisians are proud that the Arab Spring started with them earlier this year.