WHITE HOUSE

Banks Prepare for U.S. Downgrade, See $100 Billion Cost

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The U.S. Congress and world markets faced more uncertainty on Tuesday as Republican leaders delayed action on a plan to raise the government's $14.3 trillion borrowing limit, narrowing the chances for a deal to avert a debt default.
U.S. President Barack Obama

Obama Seeks "Plan B" as U.S. Debt Pans Stall

A Republican plan to cut the U.S. deficit faced delay and stiff opposition on Wednesday, piling anxiety onto investors and ordinary Americans hoping for a late compromise to avoid a crippling debt default.
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President Barack Obama

Do Democrats and Republicans Worry More about Election and Less About Debt?

President Barack Obama's Monday night address to the nation voiced the gravity of situation and the urgency to reach a "fair compromise" on the ongoing debt talk. "Defaulting on our obligations is a reckless and irresponsible outcome to this debate. ... We would risk sparking a deep economic crisis - one caused almost entirely by Washington," Obama said.
NAACP President and CEO Benjamin Todd

NAACP head likens voter ID measures to Jim Crow

The head of the nation's oldest and largest civil rights group on Monday condemned state laws requiring photo identification of voters as an attempt to disenfranchise minorities through some "of the last existing legal pillars of Jim Crow."
Traders work on the floor of the New York Stock Exchange

Futures slump as debt talks result in no deal

U.S. stock index futures fell sharply on Sunday as failure so far by the government to strike a deal on the debt ceiling made the prospect of default -- once considered an impossible outcome -- more likely.

Reid Offers $2.7 Trillion Spending Cut Plan

Call it 'dueling debt plans': Sen. Harry Reid, D-Nev. announced Monday a $2.7 trillion spending reduction plan, while House Speaker John Boehner, R-Ohio, announced a 2-stage spending cut plan, $1 trillion now, and $1.2 trillion next year. If the two sides can get down to negotiating, Monday will be a day of progress in the debt deal saga.
A trader works on the floor of the New York Stock Exchange

Wall Street Week Ahead: Markets Edgy on Debt-Talk Stalemate

Much of the United States may be frying in near-record temperatures but Wall Street has been feeling the heat for months. Wrangling over the debt ceiling has kept markets on edge, and investors are still waiting for a breakthrough that leads to a deal to avoid a devastating default.
Senate Majority Leader Harry Reid, Treasury Secretary Timothy Geithner

U.S. Leaders Push Dueling Debt Ceiling Plans

President Barack Obama and Congressional leaders have missed a self-imposed Sunday deadline reach a deal to raise the U.S. federal debt limit, bringing the default deadline for U.S. obligations even closer.
U.S. Debt Deal Negotiations Resume

Obama, Boehner Back at Debt Deal Table

House Speaker John Boehner, R-Ohio, took pains to underscore that not only have the debt deal talks resumed, he says all parties are working toward an agreement. Time certainly is of the essence: the U.S. has less than 10 days to raise the debt ceiling and avoid a default.
White House open to short-term debt extension

Obama Says U.S. 'Out of Time' on Debt Deal

President Barack Obama said Friday that time for negotiations had ended after House Speaker John Boehner broke off talks on reaching a deal to raise the federal debt limit and handle the United States' long term debts and deficits.
U.S. Sen. Harry Reid, D-Nev.

Debt Talks: Democrats Furious About New Proposal

President Barack Obama faces a powerful backlash from his own party for a proposed debt bargain that Democrats see as Obama handing a major victory to Republicans without preserving Democratic priorities.
U.S. President Barack Obama (right) with House Speaker John Boehner

Obama, Boehner, Hill Leaders Nearing Debt Deal

President Barack Obama, D-Ill. and Speaker John Boehner, R-Ohio moved closer toward a landmark debt deal late Thursday -- one that would avoid a U.S. default and implement major tax code changes, if approved. However, aides to both were lowering expectations, given the importance of the talks, so as to not jeopardize delicate negotiations within each caucus.
U.S. President Barack Obama

Reminscing the Past, the Presidential Way

The ongoing healthcare reforms cannot be isolated from the controversy that has exposed President Barack Obama's desperation to tag along his mother, who was often portrayed as a victim of health care insurers.

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