Scott Horsley

The Consumer Price Index is one of the most familiar measures in economics and politics. But some in Washington want to change the way the index is calculated to better reflect people's shopping habits.

While the proposed change is described as a technical fix, it could also cut the federal deficit by hundreds of billions of dollars over the next decade.

Ben Franklin famously observed that nothing is certain but death and taxes.

So far, Congress hasn't repealed the former, but the future of estate taxes — a largely overlooked piece of the "fiscal cliff" — remains uncertain as this year draws to a close.

Until now, most of the year-end tax debate has focused on the income tax, but another battle could be brewing over estate taxes.

As leaders in Washington try to make a deal to avoid the automatic tax hikes and spending cuts slated to go into effect in the new year, one major focus of the negotiations is whether to let taxes go up on the rich.

The Obama administration wants to allow the Bush-era tax cuts to expire for top earners. House Speaker John Boehner and congressional Republicans have countered with a proposal that they say would raise revenue through ending loopholes and deductions in the tax code and would not increase tax rates.

Treasury Secretary Timothy Geithner says it's up to congressional Republicans to take the next step in budget talks to avoid the pending automatic spending cuts and tax increases at the end of the year.

Appearing on the Sunday talk shows, Geithner said there's "no path to an agreement" until Republicans are willing to accept higher tax rates on the rich.

President Obama is hoping the same campaign tools that helped him win re-election will also deliver a policy win in the fight over federal taxes.

The president wants Congress to extend Bush-era tax cuts for most Americans, while allowing taxes to go up for the wealthiest 2 percent. His aides are using email, social media and beyond-the-Beltway campaign appearances in hopes of putting pressure on Republican lawmakers.

President Obama is winging his way home from Asia Tuesday. The White House insists domestic budget concerns won't affect U.S. investment in Asia, which was the point of the president's three-nation tour this week. But some in the region are not so sure.

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LINDA WERTHEIMER, HOST:

President Obama paid a historic visit to Myanmar today. The southeast Asian country, also known as Burma, is tiptoeing towards democracy after almost 50 years in military rule. Mr. Obama met with the former leader who is now the president of Burma and with opposition leader Aung San Suu Kyi, who is not a member of parliament after years of house arrest. The visit is the centerpiece of the president's three-day Asian tour, which is meant to underscore the United States' growing involvement in the region.

President Obama meets with labor leaders at the White House on Tuesday to discuss how to steer clear of the so-called fiscal cliff. It's the first of many meetings aimed at avoiding automatic tax increases and spending cuts at the beginning of the new year.

A week ago, the president proved again that he and his team are good at winning elections. The question now is whether he can translate victory at the ballot box to success in shaping policy.

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SCOTT HORSLEY, BYLINE: And I'm Scott Horsley, traveling with the Obama campaign. Actually, the president's campaign travel is finished. Mr. Obama spent the night at his own home in Chicago. Today's plans call for some TV and radio interviews and maybe a game of basketball with some friends. Mr. Obama's last reelection rally came last night in Iowa, where 20,000 people gathered just outside the caucus headquarters where he launched his first presidential campaign more than five years ago.

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The presidential candidates will be hopscotching among the handful of states that are most closely contested this weekend. President Obama begins campaigning Saturday where he left off Friday, in the all-important battleground of Ohio.

President Obama offered thoughts and prayers Tuesday for all those who have been affected by Sandy. He also offered something more tangible: the full resources of the federal government.

"The most important message I have for them is that America's with you," he said. "We are standing behind you, and we are going to do everything we can to help you get back on your feet."

For Obama, the federal government is a critical vehicle for that kind of help. Republicans put more faith in local government, and even voluntary efforts.

Later this week we'll get another snapshot of the U.S. job market: the last unemployment report before next week's presidential election.

Forecasters expect another sign of slow but steady job growth. Whoever is in the Oval Office next year will have to cope with a sluggish U.S. economy and confront some urgent policy decisions.

President Obama barnstormed from Iowa to Las Vegas and L.A. on Wednesday, before taking a red eye back east.

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From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.

AUDIE CORNISH, HOST:

I'm Audie Cornish, and we begin this hour with a sprint. The 2012 presidential debates are now history and today, President Obama and his Republican challenger Mitt Romney begin the two-week race to Election Day. Mr. Obama is widely considered the winner of last night's foreign policy debate, but he didn't spend much time crowing today.

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Here's something President Obama and Mitt Romney agree on: America's tax system is too complicated. Both men have outlined changes that are broadly similar, but with some important differences.

The Problem:

Today's tax code is like a department store, where the price tags are high, but there are lots of coupons, sales and weekend specials. That creates some inequities. Just as shoppers can pay different prices depending on which day they buy, taxpayers with the same income can pay very different rates depending on which deductions they qualify for.

President Obama and his Republican rival, Mitt Romney, seem to have switched places in recent days.

The incumbent president is promising to change Washington from the outside. Meanwhile, Romney, who made his fortune turning businesses around, says he wants to work within the existing political system.

The contrast was on display Saturday in Wisconsin, where Obama held one of the biggest rallies of his re-election campaign.

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From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.

AUDIE CORNISH, HOST:

And I'm Audie Cornish. Republican presidential hopeful Mitt Romney admits he could've used more elegant language, but he's not backing down. Romney was secretly recorded speaking at a fundraiser in May and his comments were publicized yesterday by the liberal magazine, "Mother Jones." Here he is telling wealthy backers that President Obama has a built-in base of support.

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There's an old shorthand for likeability in politics: "Which candidate would you rather have a beer with?"

Republican presidential nominee Mitt Romney's proposal to overhaul the tax code continues to draw scrutiny.

Romney says it is possible to cut tax rates without driving the government deeper into the red, and that he can make up for the lost revenue by closing tax loopholes. But analysts have had a hard time testing Romney's claim because he hasn't offered many specifics.

When he was pressed by NBC's David Gregory this weekend to give an example of a loophole he would close, Romney didn't offer much detail.