President Obama has invited congressional leaders to the White House Thursday to try to resolve the stalemate over raising the debt limit. The deadline for a deal is Aug. 2.
Heeding a call from President Obama, the Senate cancels its July 4th break to deal with the looming debt crisis. But Democratic leaders are not planning any meetings with Republicans.
The House and the Senate are in session simultaneously only a few days between now and Aug. 2, when the US is expected to hit its $14.3 trillion debt ceiling. That's not helpful, experts say.
As debt talks shift to Obama, GOP Speaker John Boehner, and Democratic Senate leader Harry Reid, taxes remain the logjam. No one wants to be seen as giving ground on that issue too quickly.
On Monday, President Obama and Vice President Joe Biden will hold meetings with Sens. Harry Reid and Mitch McConnell to discuss the status of the debt talks.
President Obama and House Speaker John Boehner tried to have deputies hash out a grand compromise on deficit reduction and the debt limit. Now, they'll have to step in.
Republicans say they'll raise the debt limit only if Congress passes 'real savings' in the form of spending cuts. Democrats prefer tax increases. A Senate vote Tuesday could offer a way to help bridge the divide.
In a major blow to Rep. Anthony Weiner’s attempt to hold onto his job in the wake of a “sexting” scandal, three top Democratic leaders Saturday told the embattled New York congressman that he has to go.
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.