The Treasury Department says it will begin running out of money to pay its bills by Oct. 17, if the partial government shutdown isn't over by then. That prospect worries the financial markets. Treasury debt plays a fundamental role in the global economy, and economists agree that a debt default would have dire consequences. But some Republicans insist that a default doesn't have to happen.
Cory Booker, the celebrity mayor of Newark, N.J., was expected to cruise to victory in the special election to fill the U.S. Senate seat of the late Frank Lautenberg. But just a week before voters go to the polls, he's facing a surprisingly strong challenge from Tea Party favorite Steve Lonegan.
The race was supposed to be a mismatch: Booker, the Democrat, and his 1.4 million Twitter followers versus the Republican former mayor of Bogota, N.J. — population 8,000.
On Day 8 of the federal government's partial shutdown, President Obama called House Speaker John Boehner. But the morning phone call produced no movement toward resolution, according to readouts by aides to both men.
Here are some of Tuesday's news highlights:
Obama gave his first lengthy press conference since early August, answering questions for more than an hour.
Originally published on Wed October 9, 2013 10:19 am
The federal government shutdown is now in its second week, and one big reason for the division in Washington is the growing divide between different kinds of voters back home. Those differences make news on Election Day, but they're visible every day.
Members in both parties find less and less common ground, in part because their constituents have such contrasting notions of government's proper role. And those contrasting visions often coincide with contrasting lifestyles — evident in many of the choices they make.
Robert Siegel interviews Sen. Mark Warner (VA-D), about why it's so hard to pull together moderate Democratic and Republican senators together to try and come up with ideas for ending the government shutdown and to avoid government default.
House Republicans had a closed door meeting this morning, and emerged with the same talking point they've used all week: They just want to negotiate with the president. President Obama quickly gave his response: He will not negotiate over the government shutdown or the debt ceiling.
President Obama held a news conference at the White House Tuesday to urge Republicans to vote on a bill to reopen the government, saying it was time to focus on the next issue: raising the debt ceiling.
The U.S. Supreme Court re-entered the debate over money and politics on Tuesday, hearing arguments in a case that could further erode limits on campaign cash.
Just three years ago, a narrow 5-to-4 conservative majority ruled that corporations are people, entitled to spend unlimited amounts on candidate elections as long as they do it separately from candidates' campaigns. On Tuesday, the court moved on to grapple with direct contributions to campaigns — in particular the aggregate limits on contributions by wealthy donors.