Stocks ended the worst week in a year as time runs out on Washington to reach agreement before the U.S. government loses its ability to borrow money.
As Congress remains locked in a bitter stalemate, the White House is quietly working to prioritize its financial obligations in preparation for the possibility that the government will no longer borrow money to pay its bills.
The United States is courting calamity with the continuing stalemate in Congress over raising the country's debt limit, the World Bank's chief warned on Friday.
With four days left before the United States hits its debt limit, Republicans pressed ahead with a deficit plan that cannot pass Congress and President Barack Obama told lawmakers to stop wasting time and find a way "out of this mess."
With America edging closer to a default and a downgrade in credit rating, some realizations are starting to hit America's youth about their future. The consequences of the partisan squabbling of their parents' generation may leave them with little to inherit and much to despise.
After initially declining President Barack Obama's May offer to accompany him at memorial services at Ground Zero, former President George W. Bush has changed his mind, saying he will stand side-by side with the commander-in-chief to commemorate the 10th anniversary of the Sept. 11 attacks.
Stocks slid back into the red on Friday after remarks from a prominent Senate Democrat gave investors another reason to back away from stocks heading into a weekend full of uncertainty over default.
With four days remaining until the United States hits its debt limit, President Barack Obama on Friday told deeply divided Republicans and Democrats to stop bickering and find a way "out of this mess."
In an eleventh hour plea for political compromise, as the Aug 2. debt ceiling deadline inches closer, President Barack Obama urged Congress to avoid a government default by finding a bipartisan solution. On Friday, he said he was ready to work with top Democrats and Republicans through the weekend to reach one.
Stocks regained momentum on Friday, trimming earlier losses to trade near unchanged after the S&P briefly hit a key technical level.
A do-nothing U.S. House and a president whose political base is starting to wonder what he stands for. Yes, the debt deal impasse is revealing a crisis of leadership in Washington. It?s as if the U.S.?s highest elected officials have forgotten what?s important. Former President Harry S. Truman always knew. And he led.
With four days remaining until the United States hits its debt limit, President Barack Obama on Friday told deeply divided Republicans and Democrats to stop bickering and find a way "out of this mess."
Officials with the Department of Alcohol, Tobacco and Firearms did not inform the White House of a disastrous program that allowed weapons to flow to violent Mexican drug cartels.
President Barack Obama is deeply involved in trying to win a debt deal and his White House was working flat out, aides said, pushing back against any impression Congress had sidelined the administration.
China's state news agency criticized the United States for its reckless "game of chicken."
Not only is the Singaporean Prime Minister, Lee Hsien Loong, the highest paid elected leader in the world (bringing home a cool $2.4-million per year), but most of his top ministers earn in excess of $1-million annually (not including generous perks and pensions).
Norway is in mourning Friday, as the nation holds memorial and funeral services for the 76 victims of last week's attacks.
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Republican leaders will scramble to rescue their budget deficit-cutting plan on Friday after conservatives mounted a rebellion that heaped uncertainty on efforts to avert a catastrophic debt default.
Urgent efforts to avoid an unprecedented U.S. debt default suffered a new blow on Thursday when some fiscally hardline Republicans blocked a budget deficit plan proposed by their own congressional leaders.
George W. Bush, the 41st President of the United States, in a new interview has revealed how he was told about the September 11, 2001 attacks on the World Trade Center in New York.
A Republican deficit reduction plan headed for two major votes in Congress on Thursday and its expected demise could force a compromise to avert an imminent and unprecedented debt default.
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