Debt Limit | featured news

House of Representatives Speaker John Boehner broke off talks with President Barack Obama on Friday and said he will begin negotiations with Senate leaders aimed at meeting an August 2 deadline to avert an unprecedented U.S. debt default.

The Senate on Friday voted along party lines against the proposal to cut spending and raise the debt limit. President Obama pressed for compromise during a town hall meeting.

The government will lose about $200 million a week in airline ticket taxes if the Federal Aviation Administration is forced to shut down.

Standard & Poor's reiterated on Thursday it sees a real risk that future U.S. government deficits may meaningfully miss discussed targets and that there is a 50-50 chance the U.S. AAA credit rating could be cut within three months, perhaps as soon as August.

President Barack Obama offered strong praise Tuesday for a deficit reduction plan put together by a bipartisan group of senators, calling the measure's mix of tax hikes and spending reforms "broadly consistent" with his own approach to the current debt ceiling crisis.

Americans tell CBS News they're unimpressed with how Obama and Democrats are handling talks, but GOP fares worst.

President Obama is threatening to veto a House Republican plan to address the debt ceiling standoff, which includes a proposed balanced budget ...

China boosted its net holdings of U.S. Treasurys in May for the second month in a row, remaining the largest foreign holder, according to the Treasury International Capital report.

Ratings agency Moody's on Monday suggested the United States should eliminate its statutory limit on government debt to reduce uncertainty among bond holders.

Top Republican lawmakers and the Obama administration’s budget director both predicted Sunday that an agreement would be reached before the federal government defaults on its debt in early August, but both sides continued to squabble over the details of competing proposals, offering little evidence that a deal was at hand.