Added to the political question of whether either one of the competing debt-limit plans can pass Congress is a practical question from the nonpartisan CBO: How much will they cut the deficit?
Stocks of small companies, especially, are being sold, and overall, stocks are falling
John Boehner may be in trouble: Tea Party Patriots say 4 in 5 of their members want to see different leadership in the House, while the Tea Party Nation leader says John Boehner 'has to go.'
The Obama speech Monday night and the subsequent address by Speaker John Boehner were mainly about scoring political points in the bitter fight over raising the national debt ceiling.
President Obama and House Speaker John Boehner gave televised addresses Monday night that seemed to emphasize how far Washington is from a debt-ceiling deal.
House Republicans and Senate Democrats introduced their plans to resolve the debt-ceiling impasse before Aug. 2. But bipartisan hopes appear thin.
Washington’s self-imposed deadline to do something credible on the debt crisis before the Asian financial markets opened on Sunday passed in silence. "There could be extreme turmoil in markets," says one expert.
As the clock ticks toward government default, House Speaker John Boehner says he’ll have a plan by the end of the day Sunday. Asian financial markets and Wall Street are watching closely.
President Obama convened an unusual Saturday meeting with Congressional leaders on the looming government default. The session lasted less than an hour, and the atmospherics appeared grim.
As President Obama and congressional leaders meet Saturday at the White House, polls show the public sharply divided on the debt problem’s urgency, down on both parties, and favoring more compromise.