The Obama administration announced Friday that it is finalizing sanctions against the regime of Libyan strongman Moammar Gaddafi and has temporarily closed the U.S. Embassy in strife-tornTripoli.

President Obama submitted a budget blueprint for fiscal 2012 on Monday full of surgical cuts and cautious trade-offs to lawmakers clamoring for bold action to reduce government spending and control a budget deficit expected to rise to a record $1.6 trillion this year.

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Clinton to announce new 'AfPak' envoy (By Karen DeYoung , Feb. 15, 2011 12:36 a.m.)
Obama budget projects record $1.6 trillion deficit (By Lori Montgomery, Feb. 14, 2011 4:26 p.m.)
Comments by Panetta stoke unmet expectations (By Greg Miller, Feb. 11, 2011 12:08 a.m.)
Obama says businesses must hire, invest to grow economy (By Brady Dennis, Feb. 7, 2011 8:42 p.m.)
Obama orders all fed agencies to review regulations (By Lori Montgomery, Jan. 18, 2011 3:04 p.m.)
Maine seeks exemption from provision of health-care law (By N.C. Aizenman, Dec. 30, 2010 10:53 p.m.)
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