Washington (CNN) - Is it a glimmer of hope, or more rhetoric as the deadline for possible government default gets closer?
After weeks of near silence without any hint of a potential compromise between the Obama administration and congressional Republicans over raising the nation's debt ceiling, the White House may be offering some conciliatory language that could lead to a deal to prevent a potential default on October 17.FULL STORY
Updated 10/7/2013 at 1:08pm
Washington (CNN) - After weeks of near silence without any hint of a potential compromise between the Obama administration and Congressional Republicans over the thorny issue of raising the nation's debt ceiling, the White House may be offering some conciliatory language that could lead to a deal to prevent a potential default on Oct. 17.
As of last Friday, White House officials declined to specify any demand as to the length of a debt ceiling increase.
New York (CNNMoney) - If the United States were to get close to the debt ceiling deadline, or even go over it, the consequences would be unthinkable, warned U.S. Treasury Secretary Jack Lew.
In a series of TV interviews, Lew sounded alarm bells over the fast-approaching limit to the U.S. borrowing authority. With the deadline just over a week away, Lew blasted lawmakers for "playing with fire" by not raising the debt limit.FULL STORY
(CNN) - Sen. Ted Cruz of Texas linked raising the debt ceiling to funding the Affordable Care Act in an exclusive interview Sunday on CNN's "State of the Union” with Candy Crowley.
“The debt ceiling historically has been among the best leverage that Congress has to rein in the executive," Cruz said.
(CNN) – With 11 days left for Congress to vote to raise the nation's borrowing limit, and the government shut down, Treasury Secretary Jack Lew underscored the importance of raising the debt ceiling to avoid dire consequences domestically and around the world.
"On the 17th we run out of our ability to borrow, and Congress is playing with fire if they don't extend the debt limit," Lew said, appearing Sunday on CNN’s "State of the Union” with Candy Crowley.
(CNN) – One idea being considered to end the immediate fiscal impasse is a bill to fund the government and extend the nation's borrowing authority for six weeks, a senior Republican member of the House told CNN Chief Political Analyst Gloria Borger.
The congressman agreed to speak with CNN on the condition of anonymity.
The GOP lawmaker said a committee could then be set up to negotiate the fiscal issues dividing the two parties and negotiate a plan to keep the government funded for the rest of the year without the proverbial gun to their heads.
New York (CNNMoney) - The United States has never willfully defaulted on any of its legal obligations. So the consequences of doing so are unknowable.
But the general consensus is that it could be catastrophic. Or, in the best-case scenario, seriously damaging to the economy.FULL STORY
WASHINGTON (CNN) - As a potential government shutdown inched closer Saturday morning, the Obama administration reiterated that it will not negotiate with Republicans over delaying the president's signature health care law.
A day after President Barack Obama said any attempt to "gut" or repeal the Affordable Care Act "will not happen under the threat of a shutdown," a White House official echoed the commander-in-chief, telling CNN's Jim Acosta a continuing resolution that alters or delays Obamacare will not merit the president's signature.
New York (CNNMoney) - It's not negotiable: Congress will have to soon raise the debt ceiling. The only question is when.
On Wednesday, the Treasury Department said again that it can continue to pay the country's bills in full without breaching the legal limit on borrowing until sometime after Labor Day.FULL STORY
Washington (CNN) -– Republican presidential candidate Michele Bachmann took to the House floor Saturday to slam President Barack Obama on his position in the ongoing debt stalemate.
“Throughout this debate over guaranteeing insane never before seen in the history of this country levels of spending, President Obama has coolly stood on the sidelines, his arms crossed, very simply castigating Republicans for not giving him a $2.4 trillion blank check,” Bachmann said.