Five years after the financial crisis, a battle is still being fought over Dodd-Frank, a series of reforms designed to prevent a recurrence.» Read More
CNBC's Seema Mody reports Treasury Secretary Jack Lew is saying it's time to get rid of the sequester, but replace it with other spending cuts. CNBC contributor Keith Boykin, and Noelle Nikpour, author of "Branding America," weigh in.
Leaders from both parties insist a new government shutdown must be avoided although a plan to dodge it is still elusive and Sen. Ted Cruz is urging a repeat.
Republicans were prepared to offer a deal featuring both an increase in the debt limit and an end to the government shutdown in return for spending cuts.
U.S. government finance leaders told G20 members they would resolve the U.S. debt impasse by Oct. 17, Russian Finance Minister Anton Siluanov said.
Fully 63% of Americans call failure to raise the nation's debt limit "a real and serious problem," while just 15% said it would not be.
Speaker Boehner said that the GOP would offer a temporary increase in the debt ceiling in return for discussions with Obama on the budget and deficit.
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.
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.