Anyone who remembers the collapse of Lehman Brothers Holdings Inc. little more than five years ago knows what a global financial disaster is. A U.S. government default, just weeks away if Congress fails to raise the debt ceiling as it now threatens to do, will be an economic calamity like none the world has ever seen.
President Barack Obama, locked in a bitter standoff with congressional Republicans that has shut down much of the federal government for the first time in 17 years, is pondering his next career move: sports team owner.
The U.S. Supreme Court term that opens next week gives the Republican-appointed majority a chance to undercut decades-old precedents in clashes over campaign finance, racial discrimination and legislative prayer.
Texas state Senator Wendy Davis, whose filibuster of new abortion curbs drew national attention earlier this year, kicked off a bid to become the first Democrat to win the governor’s office since 1990.
Some Democrats in Congress, whose support Barack Obama needs for trade accords, want to put the brakes on a Pacific-region deal just as the president prepares to meet with leaders of nations drafting the pact.
A bipartisan group of lawmakers is proposing to House Republican and Democratic leaders a compromise to end the government shutdown by repealing a medical device tax and maintaining across-the-board spending cuts.
More than a dozen House Republicans who want to drop attempts to undermine the health-care law and reopen the government are meeting among themselves and with House Speaker John Boehner -- and he’s listening.