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House prioritizes bills to pay if US hits debt ceiling. Is default averted?
The bill would allow the federal government to pay interest on the nation’s debts, even if the US does not raise the debt ceiling. But some say the effect would be different from what is envisioned.
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Why Al Jazeera bought Al Gore's Current TV (+video)
Al Jazeera's purchase of Current TV, the news network cofounded by former Vice President Al Gore, boosts Al-Jazeera's reach in the US nearly ninefold to about 40 million homes. Jazeera plans to add more US bureaus and transform Current TV to 'Al-Jazeera America.'
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'Fiscal cliff' meeting at White House: Will it be 'Lincoln' moment for Obama?
Many Senate Republicans say that with Congress deadlocked on averting the fiscal cliff, it is up to Obama to force a deal. The lesson from the movie 'Lincoln,' they say, is 'the president has to lead.'
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'Fiscal cliff': Is Washington missing its chance to 'go big'?
President Obama and Congress are preparing to have another go at a deal on the fiscal cliff, but more and more it's looking like an opportunity for something grand to be wasted.
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Why Obama is pushing for stimulus in 'fiscal cliff' deal (+video)
President Obama's opening offer in 'fiscal cliff' talks includes $255 billion in stimulus spending – tax cuts, incentives, and more. It could be a bargaining ploy or a bid to offset rising taxes on the rich.
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Sandy recovery claims mount. How much will a divided Congress pay? (+video)
Congress may be wrangling over the 'fiscal cliff,' but budget experts are confident that both parties will agree to provide billions in Sandy recovery aid sought by Northeastern governors.
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Election 2012: why status quo result could mean more Washington gridlock
Serious business awaits the nation's lawmakers, the 'fiscal cliff' foremost. But the results of Election 2012 could give Washington's main players cause to dig in their heels.
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How the 2014 elections tip prospects for a 'grand bargain' on US deficits
Whoever wins the White House – President Obama or Mitt Romney – will need help from the other side of the aisle in the Senate to reach a deal on meaningful debt- and deficit-reduction. But key senators up for reelection in 2014 face wrenching tradeoffs.
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Decoder Wire Enjoy tax day 2012, next year could be 'Taxageddon'
Sure, this tax day won't be fun, but a raft of tax cuts are set to expire this year, and with Congress preoccupied by Election 2012, Americans face the prospect of a much bigger tax bill in 2013.
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Buffett Rule: Could it backfire on Democrats?
Democrats are campaigning for the Buffett Rule, which would ensure millionaires pay federal taxes at a higher tax rate. But polls show 'fairness' doesn't motivate key independent voters.
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No budget? No problem! The strange politics behind a budgetless America.
President Obama has proposed a federal budget. Congress looks sure to ignore it, and Senate Democrats show no desire to pass any budget. It would be the fourth straight budgetless year.
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In surprise move, GOP leaders admit defeat in payroll tax battle
House GOP leaders had wanted to offset the cost of a payroll tax extension by spending cuts. But their decision Monday suggests that the political cost of a stalemate was too high.
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House to reject debt limit increase. Why that doesn't really matter.
The House is voting Wednesday on a resolution disapproving of a request by President Obama to raise the national debt limit by $1.2 trillion. But the issue actually was resolved last summer.
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Obama plan to boost teen employment could be an uphill battle
The national unemployment rate has fallen to 8.6 percent, but the level of teen joblessness has remained high. So, on Thursday, President Obama encouraged the private sector to step up their hiring of young people.
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Democrats turn tables on GOP as Boehner relents on payroll-tax deal
House Speaker John Boehner agreed to let the Senate's payroll-tax deal come to the floor for a vote, where it is expected to pass Friday. It was a rare win in a tough year for Democrats.
12/22/2011 08:56 pm -
House rejects payroll-tax deal. Is it now dead?
The House rejected the Senate's temporary payroll-tax deal Tuesday, leaving no clear way out of the impasse. The House wants more discussions, but the Senate says it's done talking.
12/20/2011 08:05 pm -
Three days left: why debt super committee is poised to throw in the towel
By law, the deficit-reducing super committee must deliver a plan to Congress by Wednesday. But the prospects for success are fading to black.
11/21/2011 11:04 am -
Six days left: Slowly, for super committee, failure is becoming an option
Republicans and Democrats remain far apart on how much tax hikes should contribute to deficit reduction. The deadline for the super committee to reach a deal is next Wednesday.
11/18/2011 06:31 pm -
Economic recovery 'close to faltering,' Ben Bernanke tells Congress
Federal Reserve Chairman Ben Bernanke offers sobering data to Congress about the weak economic recovery and gives little hope of an imminent turnaround.
10/04/2011 07:13 pm -
Why tax code appears to offer deficit 'super committee' rare common ground
Congress's deficit 'super committee' began its look into reform of the tax code. Despite the partisanship consuming Washington, the $1 trillion in personal and corporate tax breaks buried in the code are an appealing target for both sides.
09/22/2011 08:55 pm -
From jobs plan to tax cuts, can deficit ‘super committee’ handle mission creep?
The bipartisan deficit 'super committee' is charged with finding $1.5 trillion in savings over 10 years. Can it find $450 billion more to fund Obama's jobs plan? Can it find $4 trillion? More?
09/14/2011 06:49 pm -
Rating falls, markets plunge, critics rage. But tea party isn't blinking.
Tea party lawmakers say the S&P's downgrade of the US credit rating and the markets' convulsive reaction on Monday is merely confirmation that they had been right all along.
08/08/2011 09:59 pm -
Debt-ceiling drama just a preview of December?
The debt-ceiling deal passed by the Senate and signed by President Obama Tuesday requires another $1.2 trillion in cuts by December. Compromise might not be any easier then.
08/02/2011 07:27 pm -
Why debt-ceiling deal didn't give stock markets a bigger boost
Congress and the president may in part have wanted a deal on the debt ceiling out of concern for financial markets, but word of an agreement couldn't compete with a dismal July report.
08/01/2011 04:37 pm -
Why John Boehner is determined to pass his doomed debt-ceiling bill
House Speaker John Boehner's debt-ceiling plan won't pass the Senate. Yet he is making huge efforts to ensure it passes the House – including delaying a vote Thursday – because his leadership is at stake.
07/28/2011 09:55 pm
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