WASHINGTON, July 22 (Reuters) – Democrats and Republicans
in Congress, unable to compromise on how to cut budget deficits
and raise U.S. borrowing authority, are now working on their
own, competing bills.

With nine days’ left until the United States runs out of
money to pay all its bills after Aug. 2, the two parties were
rushing to get their respective bills moving through Congress
this week. [ID:nN1E76M0B0]

WASHINGTON, July 24 (Reuters) – U.S. lawmakers failed to
achieve a budget breakthrough and instead worked on rival plans
on Sunday in an impasse that heightened prospects for a
catastrophic U.S. debt fault.

With time running out, Republican and Democratic lawmakers
split into opposite camps and held talks among themselves.
There were no signs of a deal emerging to head off a default in
nine days that could trigger global economic calamity and
downgrade America’s Triple-A credit rating.

WASHINGTON (Reuters) – White House officials and Republican leaders scrambled on Sunday to reassure global markets the United States would avert a debt default, but the two sides gave no sign they were moving closer to a deal.

White House Chief of Staff Bill Daley warned that there would be a “few stressful days” ahead for financial markets, with the deadline to lift the $14.3 trillion (8.76 trillion pounds) U.S. borrowing limit now only nine days away.

WASHINGTON, July 24 (Reuters) – White House officials and
Republican leaders scrambled on Sunday to reassure global
markets the United States would avert a debt default, but the
two sides gave no sign they were moving closer to a deal.

White House Chief of Staff Bill Daley warned that there
would be a “few stressful days” ahead for financial markets,
with the deadline to lift the $14.3 trillion U.S. borrowing
limit now only nine days away.

WASHINGTON (Reuters) – Scolded by President Barack Obama, Congress scrambled on Saturday to produce a deficit plan within 48 hours that keeps the United States from a catastrophic debt default now days away.

A day after talks collapsed in acrimony, Obama held an emergency meeting with congressional leaders at the White House and told them to find areas of agreement.

WASHINGTON (Reuters) – President Barack Obama and top congressional lawmakers on Saturday attempted to salvage a deal to stave off a catastrophic debt default after a collapse in deficit talks left both sides angry and frustrated.

Obama, a Democrat, called House of Representatives Speaker John Boehner and other congressional leaders to a meeting at 11 a.m. EDT at the White House on how the debt ceiling can be raised by August 2.

WASHINGTON (Reuters) – (Reuters) – The White House signaled on Wednesday it could support a short-term increase in the U.S. borrowing limit for “a few days” if lawmakers agreed to a broad deficit reduction deal but needed more time to pass it.

The move, a shift from President Barack Obama’s previous position, reflects the growing political reality that time is short for Congress to pass a massive deficit-cutting deal before the United States runs out of money on August 2.

WASHINGTON, July 20 (Reuters) – Facing a looming deadline
to avoid a U.S. default, Republican and Democratic lawmakers on
Wednesday worked to combine elements of a plan to raise the
debt ceiling with market-pleasing proposals to cut spending.

An ambitious new deficit reduction plan, unveiled on
Tuesday by a group of senators known as the “Gang of Six,”
offers a ray of hope in an increasingly grim standoff that has
threatened the United States’ top-notch credit rating.
[ID:nN1E76I1TF]

WASHINGTON (Reuters) – For the first time in a long, bitter fight over budget deficits and raising the U.S. debt limit, Democrats and Republicans have found a big idea they both might like: a “Gang of Six” proposal that unexpectedly burst onto the scene on Tuesday.

After two months of dormancy, the bipartisan group of six senators outlined a plan to tame annual $1.4 trillion budget deficits in a way that could put the United States onto a fiscally sound path and assuage edgy global financial markets that were heartened by the possible progress.

WASHINGTON (Reuters) – For the first time in a long, bitter fight over budget deficits and raising the U.S. debt limit, Democrats and Republicans have found a big idea they both might like: a “Gang of Six” proposal that unexpectedly burst onto the scene on Tuesday.

After two months of dormancy, the bipartisan group of six senators outlined a plan to tame annual $1.4 trillion budget deficits in a way that could put the United States onto a fiscally sound path and assuage edgy global financial markets that were heartened by the possible progress.