U.s. Debt Limit | featured news

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.

Yes, the rest of the world is watching this embarrassing debt ceiling nonsense, and it is growing dismayed.

President Obama said Friday Congress has a "unique opportunity to do something big" and stabilize the U.S. economy for decades by cutting deficits ...

Frustrations mounted in the continuing battle over the debt ceiling with Reid saying Cantor "shouldn't even be at the table." The comments come as credit-rating firms moved closer to an unprecedented downgrade of the U.S.'s debt.

China's Foreign Ministry, responding to concerns over the U.S. debt ceiling impasse, says it hopes the U.S. government will adopt "responsible ...