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.
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.
A Michigan-based legal group on Wednesday asked the Supreme Court to review and overturn a decision that found President Barack Obama's signature healthcare law constitutional.
If the impasse over the U.S. debt limit isn't broken soon, President Barack Obama will be forced to decide how he will manage the crisis.
Pablo Dylan, the 15-year-old grandson of music legend Bob Dylan, is making a name for himself in rap.
With America edging ever closer to a default, and a downgrade in the US credit rating, some realizations are starting to hit America's youth about their future. The consequences of the partisan squabbling of their parents' generation may leave them with little to inherit and much to despise.
If the debt ceiling isn't raised before Aug. 2, or if America's prized AAA credit rating is downgraded, it will mean at least a decade of financial instability to clean up after.
With America edging ever closer to a default, and a downgrade in the U.S. credit rating, some realizations are starting to hit America's youth about their future. The consequences of the partisan squabbling of their parents' generation may leave them with little to inherit and much to despise.
With America edging ever closer to a default, and a downgrade in credit rating, some realizations are starting to hit America's youth about their future. The consequences of the partisan squabbling of their parents' generation may leave them with little to inherit and much to despise.
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.
Republicans and Democrats rushed to rework rival deficit reduction plans on Wednesday, but with the fate of both proposals heavily in doubt, top lawmakers pursued a behind-the-scenes compromise to avert a crippling U.S. debt default.
Republicans and Democrats rushed to rework rival deficit reduction plans on Wednesday, but with the fate of both proposals heavily in doubt top lawmakers pursued a behind-the-scenes compromise to avert a crippling U.S. default.
Osama bin Laden's death and a relentless campaign of drone attacks have weakened al-Qaeda to the point that the terror organization may no longer be capable of planning and carrying out large-scale attacks.
A judge dismissed a lawsuit seeking to freeze federal funding for embryonic stem cell research, backing the Obama administration's push to ease restrictions on the controversial research technique.
Democratic Congressman Luis Gutierrez was arrested in front of the White House on Tuesday afternoon while protesting deportation of illegal immigrants, a spokesman said.
Will the sky fall on August 2 if Congress fails to raise the debt ceiling?
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.
It appears that a few GOP presidential candidates have joined the Tea Party coalition and conservatives in disapproving of House Speaker John Boehner?s plan to solve the debt crisis.
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.
Some of the largest pension funds and investment firms have urged President Barack Obama and Congress to resolve the deficit impasse and avoid inflicting "pain and hardship" on the nation.
There was little good news on the debt deal front early Wednesday: Democrats and Republicans are working on separately debt reduction plans, neither of which is likely to pass both chambers. A debt deal at this late stage is looking increasingly less likely.
