The White House said on Thursday it was "pretty clear" what a compromise between Republicans and Democrats would look like to reduce the deficit and lift the debt ceiling by an August 2 deadline.
Republican presidential front-runner Mitt Romney has been on a glide path toward the 2012 primary elections, serving up a steady diet of soundbites and campaign material attacking President Barack Obama on jobs and the economy.
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.
Continually rising health care costs will account for one fifth of America's gross domestic product by 2020, a trend that will be driven only slightly by the Affordable Care Act, according to government analysis.
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.
The United States will be "running on fumes" if its debt limit is not raised by August 2, the White House said on Wednesday, as it sought to kill talk that this was not a real deadline to strike a deficit 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."
Debt talks in Washington are stalled, and leaders Boehner and Obama would be wise to learn a lesson from Bill Clinton and Trent Lott.
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.
