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With the prospect of a drastic suspension of government services to avoid default looming eight days away, Congressional leaders were unable to reach a deal to raise the federal debt limit despite a weekend of fevered negotiations, heightening the risk that lawmakers will trigger an economic crisis by failing to break the impasse by an [...]
A look at the Minnesota Congresswoman’s career from her days as student council president (and cheerleader) to her never-boring bid for President.
A day after talks between President Obama and House Speaker John Boehner abruptly collapsed, congressional leaders worked overtime on Saturday to craft a deal that can raise the $14.3 trillion federal debt limit and staves off a looming market panic. After an evening of high drama in sweltering Washington, Obama summoned Boehner and three other [...]
It’s not the most important example of bipartisan gridlock these days, but the legislation funding the Federal Aviation Administration expired Friday at midnight after House and Senate leaders failed to reach agreement on a routine extension. Transportation Secretary Ray LaHood announced that nearly 4,000 FAA employees will be furloughed, and the agency would shut down [...]
Another awful week for the Republic–and some interesting decisions by the President. He chose to compromise in his deficit reduction negotiations with the Republicans…and got nowhere. He chose to compromise by not appointing Elizabeth Warren the director of the Consumer Finance Protection Bureau…and got nowhere. You’re expecting me to rail against compromising with Republicans, right? [...]
Late last Sunday morning, House Speaker John Boehner and his No. 2, majority leader Eric Cantor, found themselves in White House Chief of Staff Bill Daley’s West Wing office talking with Treasury Secretary Tim Geithner about how tax reform, if done right, could produce $800 billion in new revenues over the next 10 years through [...]
TIME’s photo editors bring you the best photos of the past week, from the Beltway and beyond.
Updated 9:54 p.m. Friday A clearly agitated President Obama walked out in front of cameras Friday evening to announce that 11th hour talks with Speaker John Boehner and House Republicans to raise the federal borrowing limit and cut the deficit had collapsed. “What this came down to was there doesn’t seem to be a capacity [...]
–President Obama in a statement on official certification of the measure rolling back the ban on gays serving openly in the military.
For the past seven months, House Democrats have had a rough gig. Relegated to the minority by the Tea Party wave, they were forced to watch helplessly as the new House Majority passed reams of go-nowhere conservative legislation in party line votes and have been excluded from key private talks between President Obama and their [...]
