WHITE HOUSE

A bill to cut the deficit faced a nail-bitingly close vote in Congress on Thursday as the top Republican lawmaker sought to quell an internal revolt and push his plan to avoid a ruinous default.

Toronto's main stock index plunged more than 2 percent on Wednesday to its lowest point this month as weak U.S. data and a looming deadline for raising the U.S. debt ceiling sent investors searching for safety.

There's no way to sugarcoat it: financial markets have started to react to the possibility that the U.S. Government might default. Democrats and Republicans in Washington appear to be no closer to a debt deal Thursday than they were last week -- and a damaging default is now staring the nation -- and global markets -- in the face.

The operator of the Nasdaq Stock Market is "under constant attack" from would-be hackers and will spend more on security as a result, its top executive said.

President Barack Obama's credibility as a leader hangs in the balance along with America's gold-plated credit rating as he strives to break a debt impasse with Republicans and avoid a ruinous default.

Gold prices rose to an all-time record in New York to touch $1623.70 as investors weighed in the possibility of a debt default in the U.S.

Democratic Congressman Luis Gutierrez was arrested in front of the White House on Tuesday afternoon while protesting deportation of illegal immigrants, a spokesman said.

A Republican proposal to cut the U.S. deficit faced delay and stiff opposition on Wednesday, raising the risk of a debt default and a ratings downgrade as the clock ticks toward a deadline less than a week away.

A Republican plan to cut the U.S. deficit faced delay and stiff opposition on Wednesday, raising the risk of default and a ratings downgrade as the clock ticks toward a deadline less than a week away.

The Obama administration is in talks with General Motors (GM) and Ford (F) for the framework of an agreement that would raise the U.S. fuel economy average to 54.5 mile per gallon (mpg) in 2025.

The U.S. Congress and world markets faced more uncertainty on Tuesday as Republican leaders delayed action on a plan to raise the government's $14.3 trillion borrowing limit, narrowing the chances for a deal to avert a debt default.

U.S. Rep. Luis Gutierrez, D-Ill., was arrested during a demonstration outside the White House on Tuesday, the second time the congressman has been arrested for protesting federal immigration policy.

A Republican plan to cut the U.S. deficit faced delay and stiff opposition on Wednesday, piling anxiety onto investors and ordinary Americans hoping for a late compromise to avoid a crippling debt default.

Paul Light has worked in and studied the institutions of government in Washington for more than three decades. He has written papers and taught about the great American legislative battles of modern times, where compromise has nearly always prevailed.

President Barack Obama's Democrats and their Republican rivals were further apart than ever on Tuesday in an impasse over the government's debt limit as investors braced for a looming default and downgrade.

President Barack Obama's Democrats and their Republican rivals were further apart than ever on Tuesday in an impasse over America's debt limit as Wall Street braced for a looming U.S. default and credit downgrade.

The United States has no wiggle room on the debt after next week's default deadline, White House spokesman Jay Carney said on Tuesday, adding he expected a deal to be reached through compromise before then.

NASA has embraced a presidential directive to plant astronauts on an asteroid, a mission that officials say represents the most ambitious yet for the space agency.

Unwavering Republican resistance to higher taxes has been a central obstacle to a debt talks deal, and no Congressman has embodied the anti-tax stance more than House Majority Leader Eric Cantor, R-Va.

President Barack Obama's Monday night address to the nation voiced the gravity of situation and the urgency to reach a "fair compromise" on the ongoing debt talk. "Defaulting on our obligations is a reckless and irresponsible outcome to this debate. ... We would risk sparking a deep economic crisis - one caused almost entirely by Washington," Obama said.

The head of the nation's oldest and largest civil rights group on Monday condemned state laws requiring photo identification of voters as an attempt to disenfranchise minorities through some "of the last existing legal pillars of Jim Crow."