WASHINGTON (AP) - The House has passed legislation designed to keep the government from defaulting on its debts. The measure also sets a course for reducing the federal deficit in the future. The Senate, where support is stronger, is expected to take up the bill on Tuesday, the deadline for... more »
Exeter, N.H. (AP) - Mitt Romney said Monday he opposes the compromise to raise the nation's debt ceiling, becoming the second Republican presidential contender to oppose a deal backed by President Barack Obama and congressional leaders in both parties.
The plan, which supporters say is needed to avert a... more »
WASHINGTON (AP) -- Racing to avoid a government default, President Barack Obama and Republican congressional leaders reached urgently for a compromise Sunday to permit vital borrowing by the Treasury in exchange for more than $2 trillion in long-term spending cuts. Senate Republican Leader Mitch McConnell said the two sides were... more »
WASHINGTON (AP) -- Dear voter: Want to know why Democrats and Republicans in Congress find it so hard to work together to solve tough problems like the debt ceiling, health care and Social Security?
Look in the mirror.
Americans gripe about cowardly, self-serving politicians, and Congress doubtlessly has... more »
WASHINGTON (AP) - White House officials and congressional Republicans are discussing a potential agreement that could end their bitter debt limit showdown. The hope is that a deal can be completed by Tuesday to avert a possible government default. Officials speaking on condition of anonymity say the White House and... more »
WASHINGTON (AP) - The GOP-controlled House and the Democratic Senate remain at loggerheads over debt legislation that's required to avoid a first-ever default on U.S. financial obligations. Lawmakers and the White House head into the weekend still in search of compromise.
Weekend talks follow a week of extraordinary partisanship... more »
INDIANOLA, Iowa (AP) - Republican presidential candidate Michele Bachmann says she's not worried about the nation defaulting if the debt ceiling isn't increased.
The Minnesota congresswoman says there are several options to keep the government running if the debt ceiling isn't raised by August. She says members of Congress... more »
Senate Democrats have proposed permitting the federal government to borrow an additional $1.9 trillion to pay its bills. That would permit the national debt to reach $14.3 trillion.
The unpopular legislation is needed to allow the federal government to issue bonds to fund programs and prevent a first-time default... more »