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 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.
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.
Representative Gabrielle Giffords returned to the U.S. House on Monday night for the first time since an assassination attempt, drawing thunderous applause in a rare moment of unity during a contentious vote to raise the U.S. debt ceiling.
Turning a new page in her post-shooting life, U.S. Congresswoman Gabrielle Giffords attended Congress last night to take part in the voting on the debt deal.
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.
Wall Street fell for a sixth day on Monday on renewed angst about Washington's ability to reach a deal on raising the U.S. debt ceiling and following disappointing news from the manufacturing sector.
Wall Street fell for a sixth day on Monday on renewed angst about Washington's ability to reach a deal on raising the U.S. debt ceiling and following disappointing news from the manufacturing sector.
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.
Both the House and the Senate plan to vote Monday night on a deal to raise the debt ceiling.
Congressional leaders and President Obama reached a deal to raise the federal debt ceiling in an effort to avoid the first U.S. default but a series of crucial votes in both chambers of Congress remain before the President can sign it into law.
A weary-looking President Obama told reporters late Sunday that a deal had been reached between the leaders of the White House, Senate and House of Representatives to raise the federal debt ceiling and avoid the first U.S. default, although a series of votes by all members in Congress is needed to make the ceiling raise a reality.
Lawmakers were close to a last-ditch $3 trillion deal on Sunday to raise the U.S. borrowing limit and assure jittery financial markets that the United States will avoid a potentially catastrophic default.
President Barack Obama told reporters Sunday that a deal has been reached to raise the federal debt ceiling and avoid the first U.S. default, the culmination of days of high-level, high-stakes political wrangling to attempt to resolve the nation's large deficits.
Senate Majority Leader Harry Reid has "signed-off" on a debt-raising deal that could be voted on as early as tonight, although the Senate's Republican leadership indicates a deal has not been reached yet as the U.S. attempts to avoid the first-ever default on debt by the U.S. government.
A deal to raise the federal debt ceiling and avoid the first ever U.S. default is "very close," but House Democratic Leader Nancy Pelosi said Sunday there is a chance they may not pass it.
A deal to raise the federal debt ceiling and avoid the first ever U.S. default is "very close" and a vote on a bipartisan measure could take place as soon as Sunday night, top Senate Leaders said.
After two weeks of acrimony, Democrats and Republicans, perhaps after having stared into the abyss, returned to the bargaining table Saturday. Still, no one will believe the issue has been resolved until President Barack Obama signs a bill that raises the debt ceiling and cuts the budget deficit.
Top congressional Republicans said on Saturday they were in serious talks with President Barack Obama to break a U.S. debt limit deadlock and were confident the risk of default by the world's largest economy could be avoided.
The White House said on Saturday it "strongly supports" a bill being considered in the House of Representatives that incorporates both Democratic and Republican ideas and would raise the debt limit to early 2013.
A bitter mood prevailed on Capitol Hill as lawmakers struggled on Saturday to find a compromise measure to lift the nation's $14.3 trillion debt limit three days before the deadline to avert a ruinous default.
