(CNN) - There was no breakthrough at Monday's debt ceiling talks at the White House, according to a congressional aide.
Senate Minority Leader Mitch McConnell, R-Kentucky, told reporters Monday's meeting was "good" and "constructive," and said leaders will meet again Tuesday.
(CNN) - Republican presidential candidate Herman Cain will attend the opening of his Iowa headquarters Monday night in Urbandale.
Cain, a tea party favorite, has visited the Hawkeye State 22 times and plans to compete in the high stakes Ames straw poll in August.
Washington (CNNMoney) - In a nod to Big Business, President Obama on Monday issued an executive order asking independent agencies to rid their books of old and outdated regulations.
The White House made a similar request earlier this year to agencies it oversees. The new order asks agencies that don't answer to the White House to join in this call to cut red tape.FULL STORY
New York (CNNMoney) - Big federal spending cuts are on the way. That's pretty clear. Whether they total $1 trillion, $2 trillion or $3 trillion is anybody's guess. But make no mistake - they are coming.
The cuts - tied to an increase in the debt ceiling - are virtually guaranteed to be some of the biggest in history. But will they hit the economy at a particularly bad time?FULL STORY
(CNN) - Speaker John Boehner insisted Monday that the House will not pass any debt ceiling deal that includes tax hikes. He also said the House won't pass a deal that fails to include spending cuts larger than any debt ceiling increase while also constraining future spending.
The speaker said he still has a disagreement with the White House on taxes and the "extent of the entitlement problem, and what is necessary to solve it."
Washington (CNN) - President Barack Obama said Monday that meetings on the debt ceiling will be held "every single day until we get this resolved."
Speaking at a news conference, the president said he appreciates House Speaker John Boehner's "good faith efforts" on the issue. "Now is the time to deal with these issues. If not now, when?"
(CNN) - President Obama will hold a news conference Monday morning to give an update on the efforts to reach an agreement on the debt ceiling negotiations. Check back below for live updates and read the full story here.
12:02 p.m. ET - @LisaDCNN: DEBT BOTTOM LINE – post Obama newser: Obama says "no path to a deal" unless GOP budges. #tcot #tlot #p2 #teaparty
12:00 p.m. ET - On CNN: @WolfBlitzerCNN said Obama's "got an enormous problem with his liberal base, by even putting Social Security and Medicare on the table."
11:59 a.m. ET - @HornickCNN: Obama says U.S. needs to get debt problem off the table by acting now. Translation: Obama wants big deal, GOP seems to want short term deal.
11:55 a.m. ET - @LisaDCNN: OBAMA NEWSER: Just ended. About 40 min. Took high road, sd both sides must give up some sacred cows. GOP politics "difficult" for Boehner.
11:55 a.m. ET - Press conference concludes with a question yelled at him by reporter while leaving: "Will we see you every day?"
(CNN) - The conservative Club for Growth launched a new ad Monday urging Republicans in Congress to stand firm on the "Cut, Cap, and Balance" pledge that opposes increases to the debt ceiling not accompanied by spending cuts, statutory spending caps and a Balanced Budget Amendment.
The 30-second spot is part of a six figure buy that will start running on Fox News Tuesday, according to a source with knowledge of the ad. The source said the ad will run indefinitely depending on events in Congress.
(CNN) - Need more proof that Rep. Michele Bachmann's bid for the GOP presidential nomination is on the rise?
Here it is: A quarter of likely Iowa GOP caucus goers say they are likely to support Bachmann in the battle for the nomination, according to a new poll.