Now, the partial shutdown prompted angry debate across the country. But at the center of that debate, we found quiet yesterday. We dropped by a Senate office building where the halls were empty. Papers taped on doors read: We regret that due to the government shutdown our office is closed. *
What would happen if Congress doesn't raise the debt ceiling and the U.S. defaults on its debt later this month? The broad economic implications are unpredictable, but a default could cause huge trouble for the global economy.
But whatever happens to the global economy, one thing is clear: People all over the world who have loaned the U.S. government money won't get paid on time.
Originally published on Wed October 9, 2013 8:10 pm
President Obama's nominee to lead the Federal Reserve, Janet Yellen, stands in the State Dining Room of the White House on Wednesday. If Yellen's nomination is confirmed by the Senate, she'll be the first woman to head the Federal Reserve System.
Credit Charles Dharapak / AP
Janet Yellen got the official nod from President Obama Wednesday afternoon for the Fed's top spot. If Yellen's nomination is confirmed by the Senate, she'll be the first woman to head the Federal Reserve System and the most powerful central banker in the world.
But since she would be the first woman to get the job, just what exactly would her title be? Chair? Chairman? Chairwoman?
Yellen would replace Ben Bernanke, whose official salutation is chairman of the Board of Governors of the Federal Reserve System.
Rep. Paul Ryan, R-Wis., offered a path forward in the fiscal stalemate, but Tea Party hard-liners weren't impressed.
Credit Mark Wilson / Getty Images
Are House Republicans still seeking Democratic concessions on the Affordable Care Act? Or have they switched their sights to even bigger targets: federal spending on entitlements like Medicare and Social Security?
The answer on Wednesday depended on which Republican you asked.
House Majority Leader Eric Cantor, R-Va., holds a news conference Oct. 3 with the GOP Doctors Caucus — members of the House who are medical professionals by training — to talk about how the government shutdown is affecting medical research.