House Republicans and Senate Democrats introduced their plans to resolve the debt-ceiling impasse before Aug. 2. But bipartisan hopes appear thin.
President Obama wants Congress to come to an agreement by Aug. 2 about raising the $14.3 trillion national debt ceiling so that the US does not default on its debt and other obligations. The president wanted new tax revenues to be part of a 'grand bargain' to shrink the budget deficit; House Republicans did not.
With the deadline approaching, the House and Senate are going down two different paths in search of a deal to raise the debt ceiling. Here is a rundown of what they are considering.
Republicans in Congress have proposed to cut federal spending by an unreasonable amount next year. What would such a huge reduction across the board look like?
Reeling from the reaction to Rep. Paul Ryan's proposal to reform Medicare, an influential group of House Republicans offers an alternative plan to lock in spending and rein in the federal debt.
In an 11th-hour maneuver, Speaker Boehner derails an antiwar measure that would have required Obama to withdraw US forces from NATO's Libya mission within 15 days.
House's plan for next round of budget-cutting would revamp the social contract between Medicare recipients and the government. Obama may say on Wednesday how far he'll go on Medicare reform.
Most seem to think Speaker John Boehner did particularly well. He cut the FY 2011 budget a lot more than Democrats wanted, and he wrangled most of his rambunctious freshmen into order.
House Republicans are set to put forward a new short-term spending bill to avoid a government shutdown. Its toughest opponents? House Republicans.
As the No. 2 Republican in the House, majority leader Eric Cantor will have his hands full navigating fired-up freshmen members through a series of controversial votes.