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Debt limit

House Speaker John Boehner of Ohio, center, speaks during a news conference on Capitol Hill in Washington, Wednesday, Jan. 23, 2013, to discuss the debt limit. The House overwhelmingly passed a bill Wednesday to permit the government to borrow enough money to avoid a first-time default for at least four months, defusing a looming crisis setting up a springtime debate over taxes, spending and the deficit. From left are, Rep. Cathy McMorris Rodgers, R-Wash., Boehner, House Ways and Means Committee Chairman Rep. Dave Camp, R-Mich., and House Majority Leader Eric Cantor of Va. (AP Photo/Jacquelyn Martin)

House votes to increase borrowing limit

Last updated Wednesday, January 23, 2013 - 4:23pm

WASHINGTON -- The House overwhelmingly passed a bill Wednesday to permit the government to borrow enough money to avoid a first-time default for at least four months, defusing a looming crisis setting up a springtime debate over taxes, spending and the deficit.

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(JIM COLE/The Associated Press) Republican presidential candidate Rep. Michele Bachmann, R-Minn., brings out money to pay for items she bought during a campaign stop at Zeb’s General Store Sunday, Oct. 9, 2011, in North Conway, N.H.

Bachmann: Debt ceiling fight kept her out of NH

Holly Ramer The Associated Press

Last updated Sunday, October 9, 2011 - 5:07pm

NORTH CONWAY, N.H. — Republican presidential hopeful Michele Bachmann said Sunday that her unsuccessful fight against raising the federal debt ceiling kept her away from New Hampshire for nearly four months, but she’s still committed to winning over voters in the key early primary state.

Congresswoman, Debt Crisis, Debt limit, Election, Michele Bachmann, Politics, Presidential Campaign, Right-Wing, National Read more Comments

(JIN LEE/The Associated Press) In this Aug. 4, 2011 photo, a trader works on the floor of the New York Stock Exchange, in New York. Global stock markets sank again Monday, Aug. 8, 2011, as worries about the downgrade of U.S. debt outweighed relief at a European Central Bank pledge to buy up Italian and Spanish bonds to help the two countries avoid devastating defaults.

US stock futures tumble after S&P downgrade of US

The Associated Press The Associated Press

Last updated Monday, August 8, 2011 - 6:57am

NEW YORK — U.S. stock futures tumbled Monday amid a rout in global stocks after Standard & Poor's downgraded the U.S. credit rating for the first time.

Business, Debt, Debt limit, Dow Jones Industrial Average, Politics, S&P 500, Stock Market, Stocks, U.S. Government, National Read more Comments

This video image provided by Senate Television shows the Senate floor on Capitol Hill in Washington, Tuesday, Aug. 2, 2011, after the Senate has approved an emergency bill to avert a first-ever government default with just hours to spare. (AP Photo/Senate Television)

Senate OKs emergency debt limit bill

Andrew Taylor The Associated Press

Last updated Tuesday, August 2, 2011 - 1:31pm

WASHINGTON — The Senate emphatically passed emergency legislation Tuesday to avoid a first-ever government default, rushing the legislation to President Barack Obama for his signature just hours before the deadline. The vote was 74-26.

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Senate takes up debt limit bill, passage likely

Andrew Taylor The Associated Press

Last updated Tuesday, August 2, 2011 - 6:58am

WASHINGTON — With just hours left before the national debt bumps against its ceiling, emergency bipartisan legislation to allow the government to borrow more faces one final test in the Senate. Expected passage there sends the bill to President Barack Obama, averting a potentially disastrous, first-ever government default and making a down payment toward taming out-of-control budget deficits.

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Budget fears, games bureaucrats play and a war hero remembered

Charles F. Trentelman Standard-Examiner

Last updated Monday, August 1, 2011 - 10:41pm

Some random notes:

* Congresspeople who think a national financial default will have no effect -- Utah Sen. Mike Lee, for one -- should read my mail.

My campaign to raise funds to help our troops brought a touching note from an older woman in Ogden who sent $12 and said "I wish I could send more, but I don't even know if we'll get a Social Security check next month."

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(The Associated Press) Rep. Gabrielle Giffords, D-Ariz. (center), gets a hug as she appears on the floor of the House of Representatives on Monday.

House OKs debt deal as Giffords makes unannounced appearance

David Espo The Associated Press

Last updated Monday, August 1, 2011 - 10:26pm

WASHINGTON -- Crisis legislation to yank the nation past the threat of a historic financial default sped through the House Monday night, breaking weeks of deadlock. The rare moment of cooperation turned celebratory when Rep. Gabrielle Giffords strode in for the first time since she was shot in the head nearly seven months ago.

The vote was 269-161, a scant day ahead of the deadline for action. But all eyes were on Giffords, who drew thunderous applause as she walked into the House chamber unannounced and cast her vote in favor of the bill.

A final Senate sign-off for the measure is virtually assured today. Aside from raising the debt limit, the bill would slice federal spending by at least $2.1 trillion, and perhaps much more.

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(Charlie Neibergall/The Associated Press) President Barack Obama and first lady Michelle Obama dance at the Western Inaugural Ball in Washington.
Turning 50 is hard enough. But it's got to be even harder when you're president, because the whole world knows about it. "I feel real good about 5-0," he said. "I've gotten a little grayer since I took this job but otherwise, I feel pretty good." Obama added that Michelle has told him that she still thinks "I'm cute."

Obama turns 50 amid debate over debt

Darlene Superville The Associated Press

Last updated Monday, August 1, 2011 - 2:30pm

WASHINGTON — Looks like President Barack Obama may get his 50th birthday bash after all.

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Debt-limit votes: Senate momentum, House concerns

Andrew Taylor The Associated Press

Last updated Monday, August 1, 2011 - 2:18pm

WASHINGTON -- The House began debate Monday on the hard-bargained plan to avert a national financial default, even as the White House and congressional leaders struggled to round up enough votes to approve it. Supporters said momentum for the deficit-reduction compromise was on their side, but resistance from both liberals and conservatives made the outcome unclear.

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(Richard Drew/The Associated Press) In this July 29, 2011 photo, specialist Mario Picone, center, works at his post on the floor of the New York Stock Exchange. Markets breathed a huge sigh of relief on Monday, Aug. 1, after President Barack Obama said U.S. lawmakers agreed to a last-minute deal to raise the U.S. debt ceiling, preventing the world's largest economy from defaulting.

Stocks rally after debt agreement is reached

David K. Randall The Associated Press

Last updated Monday, August 1, 2011 - 2:26pm

NEW YORK — Stocks are rallying after President Barack Obama and Congressional leaders announced that they had agreed on a deal to raise the nation's borrowing limit ahead of Tuesday's deadline.

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President Barack Obama answers questions on the ongoing budget negotiations during a press conference in the Brady Briefing Room of the White House in Washington, Friday, July 15, 2011. (AP Photo/Pablo Martinez Monsivais)

Debt face-off shifts to Congress, bargain in play

Jim Kuhnhenn The Associated Press

Last updated Friday, July 15, 2011 - 9:56am

WASHINGTON -- Negotiations to increase the nation's debt ceiling shifted to Congress where Republican and Democratic leaders were assessing the mood of their members even as an intricate but potentially face-saving deal to avoid an unprecedented government default was taking shape in the Senate.

With an Aug. 2 deadline looming and no compromise jelling at the White House, President Barack Obama had to settle Friday for asking congressional leaders to take three deficit reduction options to their members to see which, if any, could win a vote in the House and Senate.

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