Congress Budget Crisis


  • Friedman: America could be 'ungovernable' Thursday, 24 Oct 2013 | 8:06 PM ET
    Friedman: American could soon be 'ungovernable'

    Thomas Friedman, columnist with the New York Times explains how dangerous partisan politics can be for the health of the U.S. economy.

  • Did Wall Street make the next budget crisis worse? Friday, 18 Oct 2013 | 6:14 AM ET

    The Street's refusal to impose discipline on Washington—through a tumble that would have instilled some sense of urgency—may be inviting more trouble.

  • Where are the shoppers? Blame Congress Friday, 18 Oct 2013 | 6:04 PM ET

    Year-over-year retail store shopper traffic fell an average of 7.3 percent a week during the shutdown, analytics group ShopperTrak reported.

  • DC needs a pizza party to mend fences: GOP pro Friday, 18 Oct 2013 | 8:36 AM ET

    The first thing Republican and Democrat budget negotiators need to do is re-build goodwill and "get to know each other," said Jim Nussle, former George W. Bush OMB director.

  • Why another debt limit fight is unlikely Friday, 18 Oct 2013 | 11:05 AM ET
    National Park Service personnel remove the barricades from the World war II Memorial In Washington, as the US government reopens October 18, 2013.

    The likelihood of another shutdown and brush with debt ceiling catastrophe early next year seems relatively slim.

  • Time to grow up, Washington: Morgan Stanley CEO Friday, 18 Oct 2013 | 12:49 PM ET
    James Gorman, CEO, Morgan Stanley

    Morgan Stanley CEO James Gorman says Congress and the White House should "start acting as leaders" to avoid the more angst.

  • How can Congress win you back? Thursday, 17 Oct 2013 | 9:32 AM ET

    The debt ceiling fight is over, but the scars remain. CNBC is asking America: How can Congress win you back?

  • 'Grand Bargain' probably won't happen: John McCain Thursday, 17 Oct 2013 | 9:49 AM ET
    Sen. John McCain, R-Ariz., answers questions as he arrives for a meeting of Senate Republicans on a solution for the pending budget and debt limit impasse at the U.S. Capitol October 16, 2013.

    Sen. John McCain, R-Ariz., told CNBC on Thursday that lawmakers should try the regular budget process for a change.

  • Dam project in McConnell's home state gets billions Thursday, 17 Oct 2013 | 12:50 PM ET
    Sen. Mitch McConnell

    A number of earmarks were folded into the debt deal to deliver unrelated funds to different parts of the country, including the Senate minority leader's state.

  • Pimco's El-Erian: So what happens next? Wednesday, 16 Oct 2013 | 6:55 PM ET
    Mohamed El-Erianhief executive officer and co-chief investment officer of PIMCO.

    Global markets cheered as the US appears to have dodged potential economic catastrophe but what happens now? Pimco's Mohamed El-Erian weighs in.

  • Remove the 'red line' on path to compromise Thursday, 17 Oct 2013 | 8:21 AM ET
    Remove the 'red line' on path to compromise

    Sen. Bob Corker, (R-TN), and Sen. Heidi Heitkamp, (D-ND), discuss why Congress needs to look at "mandatory reforms" and put "everything on the table" in order to reach an agreement on the budget.

  • Fixing Washington's debt Thursday, 17 Oct 2013 | 7:53 AM ET
    Fixing Washington's debt

    Washington is actually going to be making decisions based on data, says Sen. Angus King, (I-ME), sharing his views on getting past partisan bickering and reaching an agreement on the budget.

  • Rep. Israel: Must end 'hyper-partisanship' Thursday, 17 Oct 2013 | 7:41 AM ET
    Rep. Israel: Lawmakers must end 'hyper-partisanship'

    Everything needs to be put on the table, says Rep. Steve Israel, (D-NY), discussing how lawmakers can move beyond the temporary debt deal and reach a permanent solution to the nation's debt crisis.

  • El-Erian: 'Political dysfunction' is an issue for markets

    We got a compromise because both parties were "exhausted," says Mohamed El-Erian, CEO and co-CIO of Pimco.

  • Sen. Portman: 'We don't need to raise taxes' Thursday, 17 Oct 2013 | 7:32 AM ET
    Sen. Portman: 'We don't need to raise taxes'

    "What we need to do is to substitute some of that sequester with mandatory changes," says Sen. Rob Portman, (R-OH), sharing his thoughts on holding caps on the discretionary part of the Federal budget while looking for relief on the mandatory side.

  • Default fallout would be like a 'nuclear bomb' Wednesday, 16 Oct 2013 | 1:46 PM ET

    Op-ed: The impact of default on America's superpower status would be like a nuclear bomb, said former ambassador Andras Simonyi.

  • Obama signs budget deal; government set to reopen Wednesday, 16 Oct 2013 | 9:41 AM ET
    President Barack Obama speaks about the Affordable Care Act in San Jose, Calif.

    Obama signed a last-minute deal early Thursday morning to avert a damaging debt default and to reopen the government.

  • DC dysfunction a 'permanent disease': Bill Gross Wednesday, 16 Oct 2013 | 4:06 PM ET

    Pimco founder Bill Gross warned Treasury investors that this type of gridlock is likely here to stay.

  • Buffett: Debt limit is 'weapon of mass destruction' Wednesday, 16 Oct 2013 | 8:06 AM ET
    Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc.

    Berkshire Hathaway's chairman said he doesn't expect the U.S. will default on its debt, but if it does it would be a "pure act of idiocy."

  • US default would be 'worse than Lehman': S&P exec Wednesday, 16 Oct 2013 | 9:51 AM ET
    September 15, 2008, the day the 150-year-old Lehman Brothers declared bankruptcy.

    How destructive would a US default be? John Chambers, chairman of the sovereign ratings committee at Standard and Poor's, has a grim answer.

Government Shutdown