CONGRESS

U.S. Stock Market: Dow?s Wild Ride May Continue, on Societe Generale Woes

At Issue: U.S. and Global Stock Markets
After a week of wild gyrations that saw the Dow Jones Industrial Average rise or fall 400 points on four consecutive days, there?s word that a major bank in France with a funny-sounding name may be in trouble. Further, if you think a possible problem at France's Societe Generale won?t affect the value of the U.S. stocks you own, think again.
At Issue: U.S. Deficit Reduction

U.S. Debt Deal: With Super Committee Seats Filled, Hard Work Begins

House Minority Leader Nancy Pelosi, D-Calif., rounded out the super committee by announcing her three House Democratic members for the special bipartisan board. Now the tough work begins: reducing the deficit by at least another $1.5 trillion over 10 years, and as far as the financial markets are concerned, the sooner the reduction is announced, the better.
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Congress reaches deal to end FAA shutdown

Congressional leaders struck a deal on Thursday to resolve a partisan dispute and end a partial shutdown of the Federal Aviation Administration that has halted airport projects and threatened thousands of jobs.
For Discussion: U.S. Economy

Disapproval of U.S. Congress Hits Record High: Poll

A record 82 percent of Americans say that they disapprove of the way Congress is doing its job, compared with 14 percent who approve, according to a New York Times/CBS News public opinion poll published on Thursday.
A demonstrator holds placards to protest U.S. debt in front of the Capitol in Washington July 18, 2011. REUTERS/Kevin Lamarque

Disapproval of Congress hits new high: poll

Disapproval of Congress rose to an all-time high after weeks of rancorous partisan battles over raising the U.S. debt ceiling took the country to the brink of default, according a New York Times/CBS News public opinion poll published on Thursday.
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Congress reaches deal to end aviation standoff

Congressional leaders struck a deal on Thursday to resolve a partisan dispute and end a partial shutdown of the Federal Aviation Administration that has halted airport projects and threatened thousands of jobs.
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Congress averts default, downgrade fears haunt

Congress buried the specter of a U.S. debt default by finally passing a deficit-cutting package on Tuesday, but uncertainties lingered over a possible painful downgrade of the top-notch American credit rating.
Gabrielle Giffords

Gabrielle Giffords Returns: Yes, Miracles Do Happen

U.S. Congresswoman Gabrielle Giffords reminded Washington and the rest of America and watching world that yes, miracles do happen. Her arrival on the scene to cast a vote for the debt-limit bill came at just the right moment.
U.S. President Barack Obama participates in a town hall meeting at the University of Maryland in College Park

11th Hour Debt Debate: Nation Finally Paying the Price?

Even though the congressional leaders had all the time in the world to strike a deal on the issue of debt-ceiling raise, they seem to be shamelessly waiting for an 11th hour drama. Technically speaking, Aug. 2 is the end of grace period for extraordinary measures and the U.S. borrowing limit, currently at $14.29 trillion, was reached on May 16 this year. Instead of getting things done Democrats and the Republicans seem to get a kick out of the 'blamestorming game'.
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Americans press Congress on debt via phones, Twitter

Americans took to the phone lines and the Internet on Friday after President Barack Obama urged them again to call lawmakers and weigh in on a war over raising the U.S. debt limit that has sharply divided Congress.
U.S. President Barack Obama participates in a town hall meeting at the University of Maryland in College Park

Obama losing sleep as debt deal goes down to wire

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.

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