Debt Ceiling | featured news

Investors fearing a stock market plunge if the U.S. tumbles off the "fiscal cliff" next week may want to relax.

President Obama and John Boehner have very different recollections of a tense phone call during the 2011 dispute over the debt ceiling, according to Bob Woodward's new book. They do agree that Obama called Boehner to say he would never sign an agreement that would force a reprise of the debt-ceiling debate before the 2012 election, according to the book The Price of Politics, to be released Tuesday.

Despite support from virtually all Republicans, the Senate blocked an attempt to deny President Obama an increase in the debt ceiling, ensuring that the administration has the funds to pay the nation’s bills through the November election.

President Barack Obama has agreed to delay submitting a debt ceiling increase request to allow lawmakers time to consider it while they are in session, White House spokesman Josh Earnest said on Friday.

Americans are plenty angry at Congress in the aftermath of the debt crisis and Republicans could pay the greatest price, a new Associated Press-GfK poll suggests....

Standard & Poor's president Deven Sharma steps down just weeks after the agency downgraded the US credit rating.

Liberals argue that he caved on the debt ceiling. Unions are upset over his handling of unemployment and labor issues. Hispanics brought the immigration debate directly to his campaign doorstep....

Fitch Ratings said Tuesday it will keep its rating on U.S. debt at the highest grade, AAA, and issued a "stable" outlook, meaning it expects the rating to stay there.

The downgrading of U.S. government bonds by Standard & Poor’s ensures that the 2012 election will be fought on the battlefield of debt, as Electoral College math begins mingling with dire economic figures.

The debate over raising the debt ceiling, which brought the nation to the brink of default, has sent disapproval of Congress to its highest level on record.