Spending Cuts, U.s. Debt | featured news

Standard and Poor's does not think the United States will default on its debt, the rating agency's president Deven Sharma said on Wednesday.

China's Foreign Ministry, responding to concerns over the U.S. debt ceiling impasse, says it hopes the U.S. government will adopt "responsible ...

President Obama continued to push for a $4-trillion deal to rein in government deficits Sunday, but a White House meeting with congressional leaders failed to break the deadlock over spending and taxes that has stalemated discussions for more than a month.

Talks to reach a more ambitious deficit-reduction deal effectively broke down on Saturday, House Speaker John Boehner said, as he and fellow Republicans resisted any White House attempts that could increase taxes.

Democratic leaders called on Wednesday for new spending and tax cuts to boost the sluggish U.S. economy, setting up a fresh hurdle for bipartisan efforts to head off a government debt default this summer.