Just one day after President Barack Obama signed into law a bipartisan deal to end the government shutdown and avoid default, the US debt surged a record $328 billion, the first day the government was able to borrow money. Fasten your seatbelt, because the US debt rate is racing out of control and nobody seems to know where or when the spending will end: The US debt now equals $17.075 trillion, according... 

Standard & Poor’s says the shutdown in total cost the US economy $24 billion, or $1.5 billion per day, the rating agency said Wednesday. The agency also estimated the shutdown will pare fourth quarter GDP by 0.6 percent. Obama has signed legislation that will avoid a technical debt default, ending the 16-day partial shutdown of the government that has cost the world’s largest economy... 

US President Barack Obama has signed legislation passed by Congress Wednesday to temporarily lift the debt ceiling and end the government shutdown, averting the threat of default just hours before the October 17 deadline. The legislation funds the government through to January 15 and lifts the $16.7 trillion debt ceiling until February 7. The White House budget director, Sylvia Mathews Burwell, said... 

If the US debt-ceiling debate goes past the eleventh hour, and the default of the world’s largest economy becomes a reality, leading central banks around the world are gearing up to minimize losses and keep the world economy functioning. If US lawmakers don’t reach a budget consensus and raise the debt ceiling by Thursday October 17, the US will become the first Western power to default since... 

As the US government shutdown nears its third week, Republicans and Democrats in Congress have been unable to strike a deal over the budget and raise the nation’s borrowing authority to avert a default. Since efforts in the House of Representatives to reach a fiscal deal failed last week, negotiations on ending the shutdown and avoiding a potential federal default have shifted to the Senate. Senate... 

Democratic Congresswoman Sheila Jackson Lee used obscure language to characterize the push for a clean resolution which would end the government shutdown, labeling it a form of “martial law.” Advocating for the passage of a clean continuing resolution that would, at least temporarily, end the current standoff in Washington and reopen the government, Lee said there were enough members of Congress... 

The Republican-led US House of Representatives unanimously voted to approve a bill which will see 800,000 workers furloughed during the ongoing partial government shutdown paid once the crisis ends. The 407-0 vote in the House was a rare moment of bipartisanship within the deeply divided lower house of Congress. The measure will now be sent to the Senate, which is controlled by the Democrats. The... 

How can Americans even begin to understand Obamacare or the government shut down? In his latest ‘man on the street’ video, Mark Dice talks to Obama supporters in San Diego who struggle to work out which political party Obama is actually affiliated with. The majority of the people Dice talked to didn’t know which party Obama was associated with and some even thought he was in fact a Republican. One... 

US Secretary of State John Kerry has warned that a prolonged political crisis in Washington would weaken the country at a global level as a political stalemate in the US has forced the federal government shutdown to stretch into its fifth day. “If it were prolonged, or repeated, people would begin to question the willingness of the United States to stay the course and its ability to,”... 

The US stock market plummeted to its lowest level in almost a month as a federal government shutdown stretched into its third day on Thursday. The Dow Jones industrial average dropped 135 points after the closing bell. The 0.9 percent loss forced the Dow index to close at below 15,000 points. The broad-based Standard & Poor’s 500 index also fell 17 points, or 1 percent, to its lowest point... 

Financial markets in Asia and Europe have been rocked over concerns that the United States’ government might be heading for a partial shutdown. Washington should agree to a new spending bill before the end of the financial year at midnight on Monday amid political divisions that have created a stalemate. If the American lawmakers fail to agree on the budget deal, essential federal services could... 

The White House budget director has ordered federal agencies to begin closing down after the Senate and the House of Representatives failed to reach an agreement on a budget plan to avert a government shutdown. “Agencies should now execute plans for an orderly shutdown due to the absence of appropriations,” Sylvia Mathews Burwell, director Of the White House Office of Management and Budget... 

In an address from the White House rose garden Tuesday afternoon, President Barack Obama blamed Republican lawmakers for triggering the first government shutdown in nearly two decades. Pres. Obama spoke on Tuesday roughly 12 hours after a longstanding budget stalemate on Capitol Hill caused a midnight shutdown impacting a number of government agencies and initiatives across the board. “At midnight... 

As a government shutdown looms over the federal budget in the United States, stocks in the country fall sharply and global investors cut allocation to US equities and bonds. All 10 main industries of Standard & Poor’s 500 index dropped on Monday. Microsoft Corp. led the declines with a 1.1 percent fall among the largest companies while shares in finance, telephone and energy tumbled the most. Dow...