Senate Minority Leader Mitch McConnell of Ky., center, heads out of the Capitol for a meeting at the White House in Washington, Wednesday, July 13, 2011, as debt ceiling talks continued.
Susan Walsh, Associated Press
WASHINGTON — President Barack Obama has declared "enough is enough," and is demanding that budget negotiators find common ground by week's end to resolve the nation's debt limit. Meanwhile, the Senate's top Republican gained followers for his own last-ditch scheme to avoid a government default.
The continuing impasse was unsettling Wall Street, and a looming Aug. 2 deadline for action was creating new tensions between the president and Republican leaders.
Moody's Investors Service says it will review the government's credit rating and a Chinese rating agency issued its own warning. Fed Chairman Ben Bernanke warned that failing to increase the nation's debt ceiling would send "shock waves through the entire financial system."
In the latest bargaining session, Obama grew frustrated with a Republican leader and brought the meeting to an abrupt end.
- Defending the Faith: A case for the...
- Abercrombie & Fitch CEO posts statement on...
- Boy Scouts open membership to all boys,...
- Brave woman tried to reason with London...
- One third of millenials regret going to college
- Stories behind viral Oklahoma tragedy photos...
- Tornado relief spurs LDS Church, Layton's...
- Facts about the Boy Scouts of America
Subscribe
Mobile
RSS
- Defending the Faith: A case for the...
44 - Journalists criticize Obama... 38
- Associated Press CEO calls records... 23
- IRS official Lerner invokes Fifth... 22
- Former IRS chief to Congress: Can't say... 21
- More Obama aides knew IRS targeted... 19
- Supreme Court to weigh in on... 17
- IRS role in Obamacare adds deeper layer... 16
Amid new warnings and fresh signs of strain, President Barack Obama and congressional leaders are entering a perilous debt-limit endgame. The president, declaring "enough is enough," is demanding that budget negotiators find common ground More..
It's time for the Republicans to step up and work for the good of the country (instead of doing as McConnell suggests, and not do anything that could enable an Obama re-election -- talk about working for the good of a political party instead of the More..
Top Ten Signs the United States Is Running Out of Money
10 For $10,000, you get your face on the dollar
9 The White House now has a two-drink minimum
8 There's a listing on eBay for North Dakota
7 More..