Congress Budget Crisis


  • 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.

  • 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.

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

  • 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.

  • 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.

  • 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.

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

  • 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.

  • 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.

  • 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

    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

    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: 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'

    "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.

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

  • 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.

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

  • 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."

  • 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