Unless Congress takes action, the U.S. will hit its debt limit on Mar. 16, Treasury Secretary Jack Lew wrote in a Friday letter.» Read More
Wall Street thinks President Obama and Republicans will reach a deal to increase the debt ceiling before next week's deadline, Jim Chanos told CNBC.
Investors are wary of the U.S.'s ability to pay its debt on time, shifting the market for Treasury bills and potentially having long-term effects.
Four structural factors helped push the U.S. into this government shutdown, and now facing potential default.
The more Wall Street is convinced that Washington will act rationally and raise the debt ceiling, the less pressure there will be on lawmakers.
The White House signaled it would accept even a brief extension in borrowing authority to prevent an unprecedented default.
John A. Boehner said the House would not vote to reopen the government without compromises on the health law.
If Congress fails to raise the debt ceiling, the Treasury Secretary will have to figure out how to make due with a third less in government funds.
The Treasury is warning that the economy could plunge into a downturn worse than the Great Recession if the country defaults on its debt obligations.
The prospect of Congress failing to raise the nation’s debt limit has economists and investors exploring options the White House might have.
CEOs from major banks met with President Obama on Wednesday and warned of the consequences if lawmakers fail to raise the US debt ceiling.
CNBC's Eamon Javers reports Treasury Secretary Jack Lew has said he is now using all "extraordinary measures" in order to keep to the government default deadline of October 17.
Prudential Financial said U.S. regulators had voted to designate the company as systemically risky, bringing it under stricter regulatory oversight.
Legal same-sex marriages will be recognized for federal tax purposes, the Obama administration said, allowing couples to claim the same tax benefits as heterosexual couples.
This billion-dollar portfolio manager says Treasury yields will drop, but not because of the debt ceiling or Syria.
Bob Cusack, The Hill managing editor, and Tony Fratto, Hamilton Place Strategies, discuss whether Congress will be able to negotiate a solution to the nation's debt problem.
CNBC's John Harwood shares highlights from his interview with the Treasury's Jack Lew. And Jared Bernstein, Center on Budget and Policy Priorities, and former Sen. Kay Bailey Hutchison, discuss the stalemate on Capitol Hill over spending and debt limits.
Treasury Secretary Jack Lew says the White House will not accept a delay or partial defunding of Obamacare, reports CNBC's John Harwood, with highlights from his interview with Lew earlier this morning. And Joe Watkins, former George H.W. Bush White House official, and Jimmy Williams, MSNBC contributor, weigh in.
Treasury Secretary Jack Lew explains why he is urging Congress to raise the debt ceiling as the nation fast approaches its debt limit by mid-October, with CNBC's John Harwood.
CNBC's John Harwood reports Lawrence "Larry" Summers is a front runner in the race to replace Ben Bernanke; and Treasury Secretary Jack Lew has warned Congress the government will reach its debt limit sometime in mid-October.
Treasury Secretary pressed Congress to allow the government to borrow more money, saying that it could default on its obligations if lawmakers do not act by mid-October.