The debt-limit fiasco: Boehner versus Obama

The debt-limit fiasco: Boehner versus Obama

The fight over the debt ceiling has turned into a dramatic leadership test for President Barack Obama and House Speaker John Boehner, opponents in a divided government who’ve gone from negotiating in secret to facing off in public at a watershed moment for the country and their own political careers. As the standoff enters its […]

Iraq deadlier now than a year ago

Iraq deadlier now than a year ago

Frequent bombings, assassinations and a resurgence in violence by Shiite militias have made Iraq more dangerous now than it was just a year ago, a U.S. government watchdog concludes in a report released Saturday. The findings come during what U.S. Special Inspector General for Iraq Reconstruction Stuart W. Bowen Jr. called “a summer of uncertainty” […]

Dysfunctional Republicans spotlight Capitol Hill chaos

Dysfunctional Republicans spotlight Capitol Hill chaos

Demoralized House Republicans are trying for a third straight day to pass a debt-ceiling bill that has almost no chance of surviving the Senate, even as the clock ticks closer to next week’s deadline for avoiding a potentially calamitous government default. House Speaker John Boehner, R-Ohio, suffered a stinging setback Thursday when, for a second […]

Debt limit stalemate threatens defense spending

Debt limit stalemate threatens defense spending

Once unthinkable in a time of two wars, Democrats and Republicans alike are insisting that the billions spent on the military can be significantly cut back over the next decade as the nation struggles to reduce its spiraling debt. Senate Majority Leader Harry Reid‘s plan to slash spending and increase the government’s borrowing authority would […]

Divided Republicans postpone debt limit vote

Divided Republicans postpone debt limit vote

The endgame at hand, House Republicans struggled Thursday to pass legislation to prevent a looming government default while slicing nearly $1 trillion from federal spending. Senate Democrats pledged to scuttle the bill — if it got to them — in hopes of forcing a final compromise. As afternoon debate headed toward evening, GOP leaders ordered […]

Economy continues to slow down

Economy continues to slow down

The economy likely grew in the first half of the year at the slowest pace since the recession ended, and the second half isn’t looking much better. Weak consumer spending, dismal hiring and cuts in government spending likely held back growth in the April-June quarter. The government will report on second-quarter growth on Friday. Economists […]

Dysfunctional House sets vote on doomed GOP debt limit bill

Dysfunctional House sets vote on doomed GOP debt limit bill

House Republicans are pressing ahead with a vote on a newly modified plan to stave off an unprecedented government default next week even though the legislation faces a White House veto threat and unanimous opposition among Senate Democrats. As the House prepared to vote Thursday, investor worries that a dysfunctional Congress might remain gridlocked sent […]

Short-term or long-term? That is the question

Short-term or long-term? That is the question

It’s a central question in the debt ceiling debate: How long should the nation’s new borrowing authority last? From the start, President Barack Obama has insisted that Congress must raise the current $14.3 trillion debt limit by $2.4 trillion. That would work out to about a 17-month extension, setting up the next vote safely after […]