ERIC CANTOR

With the deadline to raise the debt ceiling edging closer President Barack Obama is demanding that there be common ground between budget negotiators by week's end so as to prevent the looming government shutdown.

Moody's Investors Service has placed the Aaa bond rating of the U.S. Government on review for a possible downgrade, due to the debt deal talks stalemate in Washington, and the possibility of a U.S. debt default, the credit rating agency announced. Fed Chairman Ben Bernanke also said a default would trigger a major crisis.

The Republican Party today is one where ideological purity trumps any spirit of compromise or pragmatism

The Republicans aren't budging on tax hikes. We don't believe we should be raising taxes on the American people, especially in this economy, said House Majority Leader Eric Cantor, speaking on behalf of himself and House Speaker John Boehner.

After months of effort, President Barack Obama and congressional Republicans are right back where they started as they try to avert a looming debt default: arguing over taxes.

Dismal unemployment figures on Friday complicated efforts to avert a looming U.S. debt default, and a top Republican said negotiators were not close to a deal that would ensure continued borrowing.

They're getting there. That, in a few words, perhaps best characterizes the state of the nation's debt ceiling talks. President Barack Obama said Thursday Congressional Democrats and Republicans are making progress toward deficit reduction and raising the debt ceiling, but big gaps remain.

Presidential hopeful Rep. Michele Bachmann released her first presidential campaign ad in which she said she won't vote to increase the debt ceiling.

President Barack Obama has shifted his strategy in debt talks with Republicans, offering a substantially larger deficit reduction package that would include cuts to Medicare and Social Security in exchange for eliminating tax breaks.

With less than four weeks left to work at preventing a U.S. government shutdown House Majority Leader Eric Cantor said reforms to the system must be included in any deal between the White House and congressional Republicans to show the public that Washington can handle the county's finances, The Associated Press reported.

If your adjusted gross income is under $250,000, you may get a reprieve, if the Obama administration's latest deficit reduction proposal becomes law after debt ceiling talks have concluded. The administration is now said-to-be seeking to increase taxes on a narrow slice of the mega-rich, such as owners of private jets.

President Barack Obama will meet with leaders from both parties Monday, seeking to overcome an impasse in negotiations over a deal to raise the federal debt limit.

President Barack Obama indicated Friday he is ready to take over the budget deficit / debt ceiling negotiations, inviting Senate leaders to the White House next week, as the continuing impasse pushes the U.S. closer to a potential default.

New Jersey Gov. Chris Christie said President Barack Obama should borrow a page from his book and personally engage in budget deficit and debt ceiling talks with lawmakers.

Las Vegas is not only place to roll the dice for really high stakes. Washington, D.C. is another, and the GOP has done exactly that in its deficit reduction talks walkout. It's a bold move, but fraught with risk: it could reshape the U.S.'s social welfare state, or trigger a market-rocking U.S. Government default on its bonds.

A year ago, it seemed implausible, perhaps absurd, to think the U.S.'s two, major parties, the Democratic Party and the Republican Party, would disagree so much that the United States would be at risk of defaulting on its bonds, due to a failure to raise the debt ceiling before the U.S. Government runs out of money in August. Now, incredibly, it appears a U.S. default is possible.

U.S. Rep. Eric Cantor, R-Va., announced Thursday morning he is suspending his participation in the bipartisan negotiations to reduce the deficit, saying the talks had reached an impasse over taxes.

The chairman of the Federal Reserve warned on Tuesday that a failure to lift the government's borrowing limit could risk a potentially disastrous loss of confidence, giving further impetus to the latest round of deficit-reduction talks by top lawmakers.

House Majority Leader Eric Cantor said on Monday that Democrats should strip embattled Rep. Anthony Weiner of his committee assignments if the New York congressman doesn't resign from the House of Representatives, USA Today reported.

Politicians aren’t mincing words when it comes to Anthony Weiner. Not even Democrats.

Rep. Anthony Weiner is trying to get back to work and said he won't resign.