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Today's debt ceiling debate has many precedents. But polarization and finances make this fight different, and the implications of a deadlock graver.
Republican Arizona Sen. John McCain said it was a mistake to link the debt fight to repealing Obamacare and pushed for the government to open again.
The former Texas congressman and presidential candidate says his worry is a breakdown of the entire system.
Despite continued dire warnings, money managers aren't trimming their portfolios--and some are even increasing exposure.
With the federal government pushing toward a budget default, big business groups are worried they have lost sway over the GOP majority in the House.
Treasury Secretary Jack Lew warned Congress on Thursday that a failure to raise the debt ceiling in a timely fashion would imperil the global economy.
Facing a looming federal default, the House GOP leadership will meet with President Obama at the White House on Thursday in a bid to resolve the budget deadlock.
The one-month U.S. Treasury bill yield spiked amid mounting concerns that the U.S. may not fulfill its payment obligations to short-term bond holders.
House Speaker John Boehner says he is willing to negotiate budget issues with President Barack Obama without any conditions.
Gold settled higher as a lack of progress among lawmakers to resolve a govt shutdown and raise the debt ceiling bolstered bullion's safe-haven appeal.
The White House signaled it would accept even a brief extension in borrowing authority to prevent an unprecedented default.
The biggest news this week revolves around the debt ceiling, deficits and defaults.
President Barack Obama says he doesn't expect Congress to breach the deadline to increase the nation's borrowing limit.
If the US were to default, retailers would "see it immediately because the consumer stops spending that day," Macy's CEO Terry Lundgren said.
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 stalemate over U.S. budget talks has foiled U.S. President Barack Obama's plans to travel to Asia this weekend.
Speaker Boehner's spokesperson reacted to a NYT article by saying 'Speaker Boehner has always said that the United States will not default on its debt.'
European leaders have garnered thinly veiled—and sometimes overt—criticism from across the Atlantic for how they've navigated their domestic crises.
Forget the shutdown, Wharton School professor Jeremy Siegel said Tuesday, because markets are more concerned about the debt ceiling.
"The idea of putting the American people's hard-earned progress at risk is the height of irresponsibility and doesn't have to happen," Obama said.
Detroit's emergency manager's office says a determination on how the bonds will be sold would be made next week.
CNBC's Rick Santelli discusses the latest action in the bond market, and the U.S. dollar.
Rep. Paul Ryan also tells CNBC that Obamacare must be repealed before it implodes "under it's own weight."
But the minutes also showed that most members agreed more data was needed to move up the schedule of rate hikes.
Obamacare's Cadillac tax doesn't kick in until 2018, but companies are worrying about it and preparing for it now.
"No just God would stand for what they did," Obama says of the terrorists who beheaded James Foley.