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  • President Ronald Reagan watches as British Prime Minister Margaret Thatcher speaks November 16, 1988 in Washington, DC.

    One of Ronald Reagan's best-known advisors on economics told CNBC that the former President would have started negotiations much earlier than President Barack Obama has.

  • US Senate Majority Leader, Senator Harry Reid

    The big sticking points between the House GOP leadership and Sen. Harry Reid’s latest plan are 1) the House wants two debt increases, one this year and one next year (Reid has just one increase) and 2) the House Republicans want a guaranteed balanced-budget-amendment vote.

  • US Capitol Building with cash

    The weekend ended with no deal on the debt ceiling. As I wrote last week, there are at least five reasons why the debt ceiling may not get raised. As we head into this week, the common wisdom remains that the debt ceiling will be raised one way or another. But will it?

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    It's not like the housing market needs any more headwinds, so here's the government potentially giving us another: The mortgage interest deduction is back in big play in the budget deal.

  • Whatever comes out of the debt ceiling talks in Washington, the U.S. is headed toward a period of austerity, BlackRock Chief Equity Analyst Robert Doll told CNBC.

  • Futures Slump as Debt Talks Result in No Deal

    Lawmakers try to raise the debt ceiling by August 2nd. Insight on how the debt talks will create a stressful time for the markets, with Robert Doll, BlackRock; Dan Greenhaus, BTIG, and CNBC's Eamon Javers.

  • House Speaker John Boehner (R-OH) conducts his weekly news conference at the U.S. Capitol, on July 21, 2011 in Washington, DC.

    U.S. House of Representatives Speaker John Boehner told fellow Republicans on Sunday that he is considering a balanced-budget amendment to the Constitution as part of a bill that would raise the debt ceiling, a source who heard his message said.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    The US economy has been in recovery for two years, but the pace has been frustratingly slow, well below that of past rebounds from deep recessions and inadequate to repair the damage done by the crisis of 2008-’09. Every time it seems the recovery may be gaining traction, the momentum peters out... Still, the economy retains important supports.

  • Obama's Campaign War Chest

    CNBC's Eamon Javers has the details on the new report on President Obama's fundraising efforts for his 2012 re-election campaign.

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    If the debt ceiling does not get raised, the ramifications range from really bad to Armageddon. That's why the markets and pundits believe the debt ceiling will get raised. It has to. But here are the top five reasons the debt ceiling may not get raised.

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    Despite President Obama's optimistic words, an eleventh-hour breakthrough in deficit negotiations using the so-called "Gang of Six" plan doesn't seem to have a chance.

  • Kent Conrad

    Senate Budget Chairman Kent Conrad said Thursday that it's impossible to enact the "Gang of Six" plan for spending cuts, a tax code overhaul and changes in benefit programs by the Aug. 2 default deadline, so a short-term extension of the debt limit is the most likely solution.

  • Government Regulation

    Today marks one year since the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 was signed into law. One year since Rep. Barney Frank and former Senator Chris Dodd  chose to ignore our concerns that this bill would stifle the recovery, harm job creation and crush Main Street America.

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    All eyes are turned towards the clock as the August 2 deadline for the US debt talks approaches. Treasurys investors could stand to benefit if Congress cannot agree to raise the debt ceiling.