HOUSE OF REPRESENTATIVES

The Tea Party-swayed Republican Party won the U.S. debt deal crisis: federal spending was cut substantially. But amid a weak economy, did the coalition cut spending too soon?

Emboldened by concessions wrung from their own leadership and President Barack Obama during the debt limit fight, Tea Party-affiliated lawmakers will likely remain a driving force in the Republican Party -- and possibly induce gridlock until the 2012 elections.

The world's largest economy was headed toward an unprecedented default, and all Washington wanted to talk about was the manner in which the president had left a room.

The White House said on Wednesday it was looking at ways to end a partial shutdown of the Federal Aviation Administration that has halted airport construction projects employing thousands of people and extended the summer's political battles.

With Medicare at the top of lawmakers' fall agenda, Tea Party movement leaders hope to ignite support for Republican plans to transform the popular federal healthcare program for the elderly.

President Barack Obama suffered a defeat in the battle over raising the U.S. debt limit that may have repercussions for his efforts to restore growth to the U.S. economy and win re-election in 2012.

The chaotic and often ugly debt-ceiling talks managed to avert a potential economic catastrophe but inflicted new damage to the political reputations of most of the key players.

Would distributing $3,000 gift cards to every American over age 16 get the U.S. economy out of its slump, and create more jobs? The tactic is unconventional, but if the economy doesn't start creating more jobs soon, Congressional leaders may have to implement the unconventional.

President Barack Obama suffered a defeat in the battle over raising the U.S. debt limit that may have repercussions for his efforts to restore growth to the U.S. economy and win re-election in 2012.

The U.S.' debt woes still threaten the global economy despite a last-minute deal struck by the White House and political party leaders, China's main official newspaper said on Tuesday, nonetheless adding there was no short-term escape from the dominance of the dollar.

The United States' debt woes still threaten the global economy despite a last-minute deal struck by Congress, China's main official newspaper said on Tuesday, nonetheless adding there was no short-term escape from the dominance of the dollar.

Gabrielle Giffords returned to the House of Representatives to cast her vote on the historic debt-limit bill in Washington.

Tea Party conservatives scored their biggest political triumph with a debt-ceiling deal that cuts federal spending, but their hardline tactics could risk a voter backlash in the 2012 elections.

Senate Republican Leader Mitch McConnell displayed his skills as a dealmaker to avert an unprecedented debt default that could have blown a hole in the U.S. economy and stung his party in next year's elections.

Treasury Secretary Timothy Geithner said he is not sure whether the bitterly fought debt agreement to be considered Tuesday by the Senate will avoid a downgrade of the U.S. top-tier credit rating.

Asian shares fell on Tuesday on concerns about a downgrade of the United States credit rating and economic worries after sluggish data, while the yen gave some gains on jitters over the possibility of intervention by Bank of Japan.

The United States' debt woes still threaten the global economy despite a last-minute deal struck by Congress, China's main official newspaper said on Tuesday, nonetheless adding there was no short-term escape from the dominance of the dollar.

The House of Representatives on Monday approved an 11th-hour deal to raise the borrowing limit, clearing the biggest hurdle to averting a potentially catastrophic debt default.

The White House and congressional leaders scrambled for enough support from skeptical lawmakers on Monday to push through an 11th-hour deal to raise the U.S. borrowing limit and avert a devastating debt default.

Leaders of both parties, Democrats and Republicans, came to an agreement after they worked furiously to sell their rank-and-file members on a debt deal reached with President Barack Obama in a bid to end a political 'cat and mouse' chase that nearly undermined Americans faith in their political institutions.

Brent crude futures hit a 6-week high on Monday, topping $120 a barrel, due to a relief rally after Washington reached a last-minute deal to escape default.