National Journal Online

Budget Chairman: Senate GOP Is Blocking Bipartisan Talks

Senate Republicans are blockading one of two scenarios to raise the debt ceiling that could unfold before the August 2 deadline, Senate Budget Committee Chairman Kent Conrad, D-N.D. said on Friday.

Posted: Friday, July 29, 2011 - 11:46am

Obama to Speak Friday Morning on Debt Negotiations

President Obama will deliver a statement on the debt-ceiling negotiations at 10:20 a.m., the first time he has publicly spoken on the negotiations in days.

Last night, Republicans failed to bring to a vote House Speaker John Boehner’s bill on raising the debt ceiling. The GOP leadership intends to bring a reworked bill to a vote, despite strong opposition within the party. The negotiations are taking place just days before the U.S. Treasury says it will not have enough money to pay obligations, a development that could lead to a America’s first-ever default.

Posted: Friday, July 29, 2011 - 9:46am

Who Benefits From Default? A Look at Groups That Might Gain

The U.S. government is rocketing toward default unless lawmakers and the White House can agree on a political solution that ends the stalemate over raising the debt ceiling. With that somewhat somber news in mind, here's a look at groups that could benefit during the economic slump that some predict would follow the August 2 deadline. 

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Posted: Friday, July 29, 2011 - 9:46am

More Bad Economic News: Second-Quarter GDP Weaker Than Expected

The Dow opened more than 100 points lower on Friday morning on news of weak second-quarter gross domestic product growth and the debt impasse in Washington.

Gross domestic product grew at a seasonally adjusted annual rate of just 1.3 percent in the second quarter, lower than expected, according to an advance estimate released by the Bureau of Economic Analysis on Friday. U.S. stock futures fell after the estimate was released.

Posted: Friday, July 29, 2011 - 9:46am

Word for Word: Best Quotes of the Week, In Pictures

Washington remained at stalemate over the debt-ceiling limit this week, and Democrats and Republicans exchanged harsh words. Amy Winehouse was found dead, and a freshman House member from Missouri somehow compared her death to the debt situation. Here's the week that was, in quotes and pictures:

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Posted: Friday, July 29, 2011 - 9:46am

This Week in Political Trivia

How well do you know the facts and faces behind this week's political news? Find out with our weekly trivia quiz, powered by the Almanac of American Politics!

This Week in Political Trivia: July 29 » Quiz maker software

 

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Posted: Friday, July 29, 2011 - 9:46am

Hotline Sort: Failure To Launch

Welcome back to Hotline Sort. There's deadlock in the House, as conservative Republicans refuse to budge, the NRCC up with a big ad buy in NV-02 and liberal groups begin to play House hardball. Here's today's rundown:

Posted: Friday, July 29, 2011 - 9:46am

LIVE BLOG: The Latest on the Debt Negotiations

A day after the House postponed its vote on Speaker John Boehner's Budget Control Act, Washington remains at a stalemate. Follow our live blog below for the latest developments.

9:35 a.m. At the open, the Dow Jones Industrial Average has fallen by more than 100 points. The Nasdaq and S&P 500 are also down.

Posted: Friday, July 29, 2011 - 9:46am

The Lingering Effects of the Debt Impasse—Pictures

By bickering over the debt limit, lawmakers have forced investors, consumers, and job creators to seriously entertain the possibility that Congress will let the U.S. government default on its debts, lose its perfect credit raing, and stop payments to people, including soldiers and retirees, who are owed money. Economists predict that the resulting damage would linger even if Washington cooks up a last-second compromise. Below are four examples of the lingering effects.

Posted: Friday, July 29, 2011 - 9:46am

Report: U.S., Afghanistan Struggle to Negotiate Terms of 'Strategic Partnership'

The Washington Post reports that talks to allow the U.S. military to maintain a long-term presence in Afghanistan after the scheduled end of combat operations are stalled, as the two countries struggle to reconcile their needs.

Posted: Friday, July 29, 2011 - 9:46am