WASHINGTON — With compromise talks at a vituperative standstill, Senate Republicans unexpectedly offered Tuesday to hand President Barack Obama new powers to avert a first-ever government default threatened for Aug. 2.
WASHINGTON — Grasping for a deal on the nation’s debt, President Barack Obama and congressional leaders remained divided Sunday over the size and the components of a plan to reduce long term deficits. Saying “we need to” work out an agreement over the next 10 days, the president and lawmakers agreed to meet again Monday.
WASHINGTON — Two Senate rebels jumped into Congress’ cut-the-deficit competition on Tuesday, proposing to raise the age of Medicare eligibility to 67 and increase monthly premiums for millions of current beneficiaries.
WASHINGTON — French Finance Minister Christine Lagarde has been chosen to lead the International Monetary Fund. She will become the first female managing director of the global lending organization.
WASHINGTON (AP) — Struggling to break a perilous deadlock, President Barack Obama took direct control Friday of national debt-limit negotiations with both Republicans and Democrats. With the White House warning the nation’s economic stability is at stake, it’s one of the most severe tests yet of Obama’s presidency.
WASHINGTON — Treasury Secretary Timothy Geithner offered a bullish assessment Tuesday of the chances of success for Vice President Joe Biden and a bipartisan band of lawmakers trying to craft a deal to slash the federal budget and raise the debt limit.
PARIS — France’s frank, hard-working and chic finance minister, Christine Lagarde, emerged Friday as Europe’s likely choice to lead the International Monetary Fund.
WASHINGTON — The government has maxed out its credit card. The United States reached its $14.3 trillion limit on federal borrowing Monday, leaving Congress 11 weeks to raise the threshold or risk a financial panic or another recession.