President Obama said IRS conduct targeting conservative groups for extra tax scrutiny was "inexcusable" and that acting IRS Commissioner Steven Miller is out.» Read More
White House officials and Republican leaders scrambled on Sunday to reassure global markets the United States would avert a debt default but the two sides gave no sign they were moving closer to a deal.
Precariously short of time, congressional leaders struggled in urgent, weekend-long talks to avert an unprecedented government default, desperate to show enough progress to head off a plunge in stock prices when Asian markets open ahead of the US workweek.
World markets have behaved until now as if it were inevitable that Congress would raise the debt ceiling before the Treasury Department exhausts its ability to pay all of its bills in early August. The breakdown of negotiations Friday has jolted that sense of equanimity, the New York Times reports.
President Barack Obama and top congressional lawmakers Saturday attempted to salvage a deal to avoid a catastrophic debt default after a collapse in deficit talks left both sides angry and frustrated.
President Barack Obama and congressional leaders are scrambling to find a way ahead on a debt deal after House Speaker John Boehner threw negotiations into crisis by walking out less than two weeks before the deadline to avoid a potentially catastrophic default.
Debt-talk drama is likely to put markets on the defensive next week. Plus, a third of the S&P reports earnings, including Boeing, Ford and ExxonMobil, and the first look at Q2 GDP.
GOP House Speaker John Boehner explains why he walked out of debt talks with President Obama. "It's not in the best interest of the country to raise taxes during this difficult economy," he says.
The only talks to raise the federal government's debt ceiling are now being held between the White House and House Speaker of the House John Boehner.
House Speaker John Boehner says job creation is the Republicans top priority. To that end, he says the NLRB is blocking thousands of jobs. He also touts the recently passed cut and cap legislation.
Declaring "11th hour" urgency" to raise the government's borrowing limit, President Barack Obama on Tuesday hailed a plan by "Gang of Six" senators from both parties to reduce federal deficits as the kind of balanced approach that could break an economy-threatening deadlock. He said it was time for Congress as a whole to rally around such a proposal.
With a default deadline looming, House Republican leaders are giving the Tea Party what amounts to a symbolic floor vote on its "cut, cap and balance" debt-limit plan.
House Speaker John Boehner and Congressional leaders discuss their talks with the President on the deficit.
At a private meeting about deficit reduction at the White House last week, Speaker John A. Boehner told his fellow Congressional leaders and President Obama that he did not spend 20 years working his way up to the top job on Capitol Hill just for the cachet of the title — he wanted to accomplish something big, the New York Times reports.
CNBC's John Harwood reports the Biden talks have reached an impasse, as talks have turned towards making hard money decisions; such as tax hikes and spending.
House Speaker John Boehner (R-OH) discusses the Obama Administration's decision to tap the Strategic Petroleum Reserve and the progress of the budget/deficit negotiations.
CNBC's John Harwood reports on political division on budget talks in Washington and the prospects for agreement.
CNBC's Darren Rovell reports the pros are battling it out at the U.S. Open but another high profile golf event is taking place in Washington between President Obama and House Speaker, John Boehner.
President Barack Obama and House Speaker John Boehner will hit the golf course Saturday—for a chance to 'bond' over the links. Who do you think will win?
Recent signs that the economic recovery is flagging have introduced a new tension into the bipartisan budget negotiations.
Not many things have emerged from the quagmire of US Congress recently which have produced a truly pleasant surprise. But could the troubled asset relief programme - better known as Tarp - turn out to be one?