White House to seek increase in borrowing limit
The Obama administration will ask Congress to raise the nation's borrowing limit by $1.2 trillion this week, marking the third and final increase from a deal
Co-chairs say debt panel has failed to reach deal
Congress' supercommittee conceded ignominious defeat Monday in its quest to conquer a government debt that stands at a staggering $15 trillion, unable to
France frets about prized AAA debt rating
The interest rate France pays to borrow money was rising again Monday — and along with it fears that the country will lose its cherished AAA credit rating.
Economy gaining but not enough to cut unemployment
The economy is showing signs of modest improvement — not enough to reduce high unemployment but enough to ease fears that another recession might be near.
Possible shutdown looms over Congress
For the second time in nine months, lawmakers are bickering and posturing over spending plans. The difference this time is that everyone agrees on the massive
Congressional debt panel kicks off work
Republicans and Democrats on a powerful committee that's supposed to cut deficits are pledging to aim even higher than their $1.2 trillion target.
Dems want debt panel to address jobs
Democrats on a special congressional debt-reduction supercommittee want it to include jobs creation as part of its work, a task that would complicate the newly
CBO: Budget deficit to hit $1.28T
fter months of unrelieved gloom and discord, Congress and President Barack Obama are starting to make a dent in the federal budget deficit.
Head of rating agency S&P stepping down
The president of Standard & Poor's is stepping down, an announcement coming only weeks after the rating agency's unprecedented move to strip the United States
Balanced budget amendment to get votes
As a "supercommittee" tries to find $1.5 trillion in new deficit cuts this fall, Republicans will be pressing a far more ambitious goal: passing an amendment
White House to agencies: Cut budgets
White House budget chief Jacob Lew has ordered agency heads to submit spending plans for the upcoming budget at least 5 percent below this year's levels. He
Dow closes down 419 points
Just when Wall Street seemed to have settled down, a barrage of bad economic reports collided with fresh worries about European banks Thursday and triggered a
AP: Obama to give major jobs speech
Seeking to jolt the economy, President Barack Obama will unveil new ideas to create jobs and help the struggling poor and middle class in a major speech after
Fitch backs US 'AAA' credit rating
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
Obama fences, parries at start of tour
Seeking some help from rural America, President Barack Obama on Tuesday implored Iowans to share ideas with him about how leaders can give an economic jolt to
Buffett: More taxes on 'mega-rich'
Billionaire investor Warren Buffett says in a New York Times opinion piece that he would immediately raise rates on households with taxable income of more than