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Debt ceiling News

Op-Ed: The government shutdown and American leadership

Washington - How a lack of leadership hurt the American People - When did being a Representative become a license to penalize America's citizens for the representative's own incompetence?

Senator Cruz on debt deal: 'Senate Republicans declined to unify'

In comments made on Saturday to the Texas Medical Association, Senator Ted Cruz (R-TX) framed the Republican compromise on the government shutdown as a result of GOP infighting.

Op-Ed: The debt ceiling from a scientist's point of view

Washington - Scientists work with numbers a lot. Counting, weighing, percentages, etc. And as a scientist, I would say for the most part, we are good with numbers.

House votes by large margin to reopen government

The House of Representatives got more support than expected to pass a resolution reopening the government and raise the debt ceiling on Wednesday night. Every Democrat voted for it, and nearly 90 Republicans.

World leaders to US: 'Raise debt ceiling and reopen government!'

Like a frustrated mother with headstrong and uncontrollable children, world leaders are advising the United States as candidly as possible. Raise the debt ceiling and reopen the government before the credibility of the U.S. disappears. Period.

Op-Ed: Media talks of fantasy debt settlement

Just as football lovers have their fantasy team, many in the media see a settlement coming in the debt crisis that could devastate world economies. This from leaders who haven't been able to agree on much of anything.

Debt fiasco damaging U.S. reputation

With the U.S. fast approaching a debt payment failure the nation’s reputation already is suffering around the world. Leaders say the world will not be the same.

Nation headed for debt crisis

There was no guarantee the nation would avoid having to default on its debt next week after talks between President Obama and House Republicans stalled.

Budget talks break down amid GOP infighting

With President Obama watching from the White House, the struggle to end the shutdown of the government has turned into a battle between Republicans in the House and Senate.

Obama rejects Republican compromise for second day in a row

President Obama has rejected a compromise to protect the debt ceiling from because it is only temporary. Obama spoke after a second day of talks with the GOP.

Op-Ed: Republicans ready to welsh on US debt

New York - For 225 years, the United States has guaranteed everyone it borrowed money from or sold bonds to that payments would be made on time.

Shutdown stops death benefit payments to US veterans

Americans are being reminded that the war in Afghanistan is still going on as families of US soldiers killed there are being denied death benefits.

Op-Ed: Boehner says 'no clean bill to raise debt ceiling'

Washington - John Boehner, once known as Speaker of the House of Representatives, went on one of the Sunday Talking Head shows in the US Sunday and threatened to execute the world economy he and his fellow Tea Partiers are holding hostage.

Polls: More than 60% of Americans want spending cuts

As Democratic and Republican congressional legislators head toward a possible government shutdown over their federal budget and debt ceiling differences, more than 60 percent of Americans want spending cuts.

Obama says income gap is fraying U.S. social fabric

Galesburg - One week after Pres. Obama delivered impromptu remarks on race relations and the Trayvon Martin shooting, he delivered a series of economic policy speeches to refocus attention on middle class jobs, job security, and racial equality.

House GOP to offer 3-month debt ceiling extension

Washington - President Obama's election campaign was based on raising taxes on the rich, who he said, were not paying their fair share. His efforts were rewarded with millionaires and billionaires paying. The GOP has agreed to vote to extend the debt ceiling

Op-Ed: Paul Krugman — Republicans holding US hostage

New York - Paul Krugman complained that the Republican leadership is holding the country hostage on the debt-ceiling issue. He says that they are threatening to blow up the world economy, if they do not get their way in the debt-ceiling debate.

Op-Ed: Raising the spending ceiling a sequel to the fiscal cliff fights

Washington - With the fiscal cliff avoided, Obama now faces other challenges soon, including the need to raise the $16.4 trillion borrowing limit. He also has to deal with the more than $100 billion in automatic spending cuts that were delayed for just two months.

Can a trillion-dollar platinum coin resolve debt-ceiling crisis?

Washington - An idea to solve the US debt-ceiling crisis with a trillion-dollar coin is gaining popularity: The Treasury can exploit a law that empowers it to create coins of any denomination, deposit it in the Treasury's account and hey presto! the crisis is over.

Report: Sources say Timothy Geithner gone by end of January

Washington - It seems United States Treasury Secretary Timothy Geithner may be gone by the end of January. A new report suggested that Geithner could leave the department even if President Barack Obama and Congress don't reach a debt deal.

Warren Buffett's debt plan: Apply tax increases to the mega-rich

In an opinion piece published in The New York Times, billionaire Warren Buffett offered his perspectives on tackling America's fiscal woes, focusing on individuals who earn more than $1 million annually.

US government still owed $1.5 trillion in financial bailout money

Washington - As US politicians spent a month haggling over raising the country’s debt ceiling and financial markets around the world remain in turmoil, a new report shows the Treasury and Federal Reserve are owed $1.5 trillion from the financial industry bailout.

Global markets crash as congressional job disapproval hits high

With the Dow Jones Industrial Average posting its biggest one-day decline since December 2008 on Thursday in lock-step with global market sell-offs, a new poll demonstrated the vast disapproval Americans have for their legislators.

Gabrielle Giffords returns to Congress to vote on debt ceiling

Washington - Gabrielle Giffords made a triumphant return to the House floor Monday evening to cast a vote in favor of a bill that would raise the nation's debt ceiling. Her return is being hailed as historic as the bill itself, which passed by a margin of 269 to 161.

Ron Paul: Real debate on debt ceiling is about increased spending

In his weekly telephone address, Republican Presidential Candidate Ron Paul contends that the debt ceiling debate is about how much to increase federal spending and not about how much federal spending to cut.

Senate Democrats reject House debt bill, Obama tweets the issue

Washington - After the House passed Speaker Boehner's debt ceiling extension plan, Senate Democrats rejected it outright and spurred further uncertainty just days before the August 2 deadline.

Boehner claims Senate debt ceiling bill has 'phony accounting'

Washington - With the August 2 debt ceiling deadline just a week away, Speaker John Boehner (R-OH) and Senate Majority Leader Harry Reid (D-NV) presented their slightly different bills within their respective congressional chambers.

In midst of debt ceiling debate, Obama is losing his voter base

Washington - As the fallout from the debt ceiling impasse intensified on Tuesday, President Obama's overarching policies appear to have alienated his remaining voter base.

Op-Ed: Media pushes aside debt ceiling issue

Amid the ongoing saga of raising the debt ceiling crisis, the reasons for the crisis and the reason for the need to raise the debt limit are glaringly under reported by The Big Four media outlets.

Obama rejects bipartisan debt plan, spurs impeachment planning

Washington - As the debt ceiling crisis spooked global markets and reports surfaced of President Obama's rejection of a bipartisan plan, talk of impeachment is circulating among congressional circles.
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This is a graph of U.S. gross federal government debt from 1981 to 2012 (est)  as a percentage of GD...
This is a graph of U.S. gross federal government debt from 1981 to 2012 (est), as a percentage of GDP, color coded by congressional control and highlighting presidential terms. The data is from the U.S. Office of Management and Budget
Discretionary spending for FY2011.
Discretionary spending for FY2011.
Chart courtesy National Priorities Project, Inc.
President Barack Obama talks with senior advisors in the Oval Office
President Barack Obama talks with senior advisors in the Oval Office
Pete Souza / White House

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