WASHINGTON -- Senate Minority Leader Mitch McConnell foreshadowed a new fight over the nation's borrowing limit this summer, saying Tuesday that the o...

Followed to its logical conclusion, the Boehner rule would radically transform government, dismantling many of the social advances of the past half century or more and paving the way for large increases in poverty and inequality.

The House of Representatives on Wednesday will take up the matter of What To Do About The Debt Ceiling, trying once again to resolve a crisis-inducing...

WASHINGTON -- President Obama would not block the three- or four-month extension of the debt ceiling proposed by House Republicans last week if the bi...

In a week of big headlines and big anticipation of a second Inaugural -- only the 5th in 50 years -- Arianna and Mary are at odds over the President's new aggressive leadership style on guns and debt. Mary sees a swaggering demagogue while Arianna likes his trajectory.

Regardless of how the current debt ceiling circus act plays out, don't be surprised to see what happens to Uncle Sam's credit rating as potential lenders to a government living well beyond its means start figuring all of this out.

The U.S. government has never defaulted on its legal obligations. We should make sure that this never happens. That means being careful about the national debt, but it also means not being stupid about a debt ceiling that can simply be raised or removed in order to avoid certain default.

WASHINGTON -- Senate Minority Whip John Cornyn (R-Texas) said Thursday that Congress will raise the debt ceiling, making him the latest in a series of...

WILLIAMSBURG, Va. -- Rep. Paul Ryan (R-Wis.) on Thursday said Republicans are weighing the option of a short-term debt limit extension, but that House...

U.S. Treasury Secretary Timothy Geithner has warned that the time is nigh for raising the debt ceiling, and so now it's time to worry about how this i...

Sen. Lisa Murkowski (R-Alaska) became the first Republican senator to come out against using the debt ceiling as leverage for spending cuts, contradic...

WASHINGTON -- President Barack Obama issued a strong warning to Republicans on Monday that he will not negotiate over the debt ceiling or allow Republ...

By Jessica Dye and Rachelle Younglai NEW YORK/WASHINGTON, Jan 12 (Reuters) - The White House would be taking a risk if it tries to mak...

WASHINGTON -- Senate Majority Leader Harry Reid (D-Nev.) and other members of Senate Democratic leadership issued a letter to President Barack Obama F...

There is a very widely shared myth about "Washington." Accordingly, there are two camps, the right-wing GOP and the left-leaning Democrats, who are more or less matched. Each control one house of Congress, and command about half of the electorate. Hence, the gridlock. Gridlock exists when one party pulls east and the other party pulls west and, hence, nothing budges. This is not the case in Washington. Here, most times, one party wants to move east and the other wants to stay put. Thus, what appears as gridlock is actually one conservative blocking victory after another. The fact that the last Congress passed only half as many bills as most previous ones does not trouble the conservatives one bit.

WASHINGTON — President Barack Obama had a clear political edge in his fight with Republicans over the fiscal cliff, and used it to his advantage...

THE fiscal cliff may have been avoided, but an even higher-stakes political standoff — this time, over the federal debt ceiling — is just around t...

Despite such terminology as "fiscal cliff" and "debt ceiling," the great debate taking place in Washington now has relatively little to do with financial issues. It is all about ideology. It is all about economic winners and losers in American society.

By Jason Lange WASHINGTON, Jan 9 (Reuters) - The U.S. Congress should accept in the next round of deficit-reduction talks that revenue...