The debt negotiations are getting down to the wire. Republican and Democratic lawmakers are scrambling to broker a deal to raise the country's $14.3 trillion debt ceiling before Tuesday, when the Treasury will no longer be able to borrow funds to meet all of its obligations. It all means the United States could face the possibility of defaulting on its debt and losing its prized triple-A credit rating.
A bitter mood prevailed on Capitol Hill as lawmakers struggled on Saturday to find a compromise measure to lift the nation's $14.3 trillion debt limit three days before the deadline to avert a ruinous default.
Led by Majority Leader Harry Reid, D-Nev., Senate Democrats Saturday worked feverishly to modify Reid's original debt plan in order to attract Senate Republicans. But a GOP Senate filibuster is expected late Saturday or Sunday, which, if it holds, would leave the U.S. without a debt ceiling increase, two days before a default.
Facing a deadline to avoid a ruinous default, congressional leaders on Saturday braced for a tense weekend of negotiations to try to reach a compromise on a measure to increase in the country's $14.3 trillion debt limit.
Senate Democrats aimed to seize the initiative in efforts to head off a ruinous debt default by pushing their deficit-cutting plan on Saturday toward a possible compromise with a divided Republican Party.
He is the author of "The buck stops here." And: "If you can't stand the heat, get out of the kitchen!" And: "If you want a friend in Washington, get a dog." Sounds like the perfect person to solve the U.S.'s seemingly intractable debt deal crisis.
A Federal Judge on Friday ordered the release of the transcripts of the 36-year-old secret testimony that former President Nixon gave to the grand jury following the infamous Watergate scandal. The transcripts will enable historians and scholars to gauge the extent of Nixon's role in the affair - a subject of popular speculation.
As Congress remains locked in a bitter stalemate, the White House is quietly working to prioritize its financial obligations in preparation for the possibility that the government will no longer borrow money to pay its bills.
With four days left before the United States hits its debt limit, Republicans pressed ahead with a deficit plan that cannot pass Congress and President Barack Obama told lawmakers to stop wasting time and find a way "out of this mess."
With four days remaining until the United States hits its debt limit, President Barack Obama on Friday told deeply divided Republicans and Democrats to stop bickering and find a way "out of this mess."
In an eleventh hour plea for political compromise, as the Aug 2. debt ceiling deadline inches closer, President Barack Obama urged Congress to avoid a government default by finding a bipartisan solution. On Friday, he said he was ready to work with top Democrats and Republicans through the weekend to reach one.
A do-nothing U.S. House and a president whose political base is starting to wonder what he stands for. Yes, the debt deal impasse is revealing a crisis of leadership in Washington. It?s as if the U.S.?s highest elected officials have forgotten what?s important. Former President Harry S. Truman always knew. And he led.
Officials with the Department of Alcohol, Tobacco and Firearms did not inform the White House of a disastrous program that allowed weapons to flow to violent Mexican drug cartels.
President Barack Obama is deeply involved in trying to win a debt deal and his White House was working flat out, aides said, pushing back against any impression Congress had sidelined the administration.
Some major bond fund managers are asking their institutional clients to consider waiving strict requirements that might force mass selling of Treasury bonds if the United States loses its AAA rating.
With less than five days until a U.S. Government default, incredibly, neither House Speaker John Boehner, R-Ohio, nor Senate Majority Leader Harry Reid, D-Nev., has a bill capable of attracting the bipartisan support needed to raise the debt ceiling. And understandably, financial markets are getting more nervous by the day.
Republican leaders will scramble to rescue their budget deficit-cutting plan on Friday after conservatives mounted a rebellion that heaped uncertainty on efforts to avert a catastrophic debt default.
Urgent efforts to avoid an unprecedented U.S. debt default suffered a new blow on Thursday when some fiscally hardline Republicans blocked a budget deficit plan proposed by their own congressional leaders.
A Republican deficit reduction plan headed for two major votes in Congress on Thursday and its expected demise could force a compromise to avert an imminent and unprecedented debt default.
A Republican deficit reduction plan headed for two major votes in the U.S. Congress on Thursday and its expected demise could force a bipartisan compromise to avert an unprecedented debt default.
The White House is touting a new government analysis that anticipates health care costs consuming a growing share of the nation's GDP, pointing to the fact that the new Affordable Care Act will have a minimal impact on the rising costs.
Sends him a link to Rick Astley video
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