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.
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.
The proposal by the 'Gang of Six' senators Tuesday draws on ideas from the deficit commission. The middle-of-the-road plan will have to overcome partisan concerns and a lack of time.
How many ways are there to resolve the debt ceiling crisis? Negotiators meeting at the White House seem to hit one impasse after another, and frustration on both sides is mounting as an Aug. 2 deadline looms to avoid default on America’s debt obligations. Still, at least five options for handling the matter have been discussed in recent days and months. Other possible solutions may well emerge, but here’s the state of play on the options to date.
Senate Republican leader Mitch McConnell proposes a 'last choice option' that would allow President Obama to raise the national debt ceiling without GOP support.
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.
The US House is to vote Tuesday on a bill that would raise the nation’s debt ceiling. But Republicans will oppose it in block, and many Democrats may cast 'no' ballots as well.
House Speaker John Boehner calls for trillions in spending cuts as a condition of raising the national debt limit. Is that bar so high that Congress will do short-term fixes – and wait for voters to speak in Election 2012?
If tea party Republicans stick to plans to defund Planned Parenthood – even at the cost of a government shutdown – it would raise questions about whether the movement is driven more by small government ideals or classic Republican 'values' issues.
The budget plans will give both Democrats and Republicans a sense of where the votes are and a road map for going forward.