WHITE HOUSE

The U.S. Capitol Dome is lit after the first significant snowfall of the season as the House of Representatives worked late into the evening to pass the $858 billion package of renewed tax cuts and more unemployment benefits in Washington

Republican rebels force new delay in debt crisis

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.

Vote delayed on debt bill as default date looms

Speaker of the House John Boehner spekas during a news conference on Capitol Hill
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.
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At Issue: U.S. Health Care Policy

Health Care Spending to Consume One-Fifth of GDP in 2020

A government analysis predicted that spending on health care will steadily increases over the next decade, a projection that the White House said vindicated the Affordable Care Act because, despite a large increase in those with health insurance, the increase would be only slightly affected by the new health care law.
Magnitskaya

Russia says will respond to U.S. steps on Sergei Magnitsky

U.S. visa restrictions on Russian officials linked to the death of hedge fund lawyer Sergei Magnitsky could become a "serious irritant" in bilateral relations and provoke a response from Moscow, Russia's Foreign Ministry said on Wednesday.
Storm clouds gather above the U.S. Capitol in Washington

Bank CEOs Warn Of 'Grave' Consequences If No Debt Deal

Chief executives from the nation's largest financial firms on Thursday pressured the White House and Congress to reach a deal on the debt ceiling and deficit reduction, saying the consequences of inaction "would be very grave."
Republican debt plan faces close vote in Congress

Republican debt plan faces close vote in Congress

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.
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TSX plunges to July low on U.S. debt deadlock

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.
Financial Crisis: U.S. Debt Ceiling in Pictures

With No Deal Yet, Markets Brace for U.S. Default

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.
U.S. House Speaker John Boehner, R-Ohio

Bid to break debt impasse faces new obstacles

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.
U.S. President Barack Obama (R) and House Speaker John Boehner (R-OH)

Obama seeks "Plan B" as debt plans stall

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.
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Banks Prepare for U.S. Downgrade, See $100 Billion Cost

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. President Barack Obama

Obama Seeks "Plan B" as U.S. Debt Pans Stall

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.
Lawmakers Split as Debt Deadline Looms

Insight: Washington crippled after long road to deadlock

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 meets with House Speaker John Boehner about the debt limit

Debt crisis gives investors first jolt

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

Debt crisis sends first waves through Wall Street

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.

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