Republican and Democratic leaders in the US Senate are reportedly “very close” to announcing a deal on the nation’s borrowing authority that would avert an unprecedented default on US debt. Harry Reid and Mitch McConnell, the Senate majority and minority leaders held talks on Wednesday morning as the Thursday deadline on the debt limit is fast approaching. The US Treasury taps out its reserves... 

The White House has rejected a new proposal by House Republicans to prevent a debt default less than two days before the debt ceiling deadline. “The president has said repeatedly that Members of Congress don’t get to demand ransom for fulfilling their basic responsibilities to pass a budget and pay the nation’s bills,” White House spokeswoman Amy Brundage said in a statement on Tuesday. “Unfortunately,... 

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... 

The U.S. Constitution leaves too many areas open to interpretation; a New Constituion of 2,300 pages (+ 200 redacted secret pages) is the solution. The Obama Administration has proposed replacing the current U.S. Constitution (4,543 words, including the signatures with a 2,300-page “new Constitution” that in the words of an administration spokesperson, “clears up the gray areas in the current... 

President Obama has rejected raising America’s debt ceiling for 6 weeks beyond the October 17 deadline. The compromise was put forward by congressional Republicans, who sought to win time for negotiation and avert an unprecedented US default next week. No specific budget decision was taken in the White House on Thursday, where President Obama met with 20 House Republicans, including Speaker... 

Whistleblowers Jesselyn Radack, Thomas Andrews Drake, Ray McGovern and Coleen Rowley (L to R) and presenter Kevin Owen (C) in RT’s studio in Moscow Edward Snowden’s revelations of NSA surveillance programs prove that the US has abandoned the rule of law, betraying its own constitution, whistleblower Thomas Andrews Drake, told RT. A group of US whistleblowers and activists has present Snowden with... 

A truly grim “urgent action bulletin” issued by the Ministry of Foreign Affairs (MoFA) earlier today states that the Main Intelligence Directorate (GRU) has received word from “highly placed” sources within the Pentagon that President Barack Obama this past week cancelled his trip to Asia and has retreated with many of his top aides to the mysterious and newly built White House bunker in preparation... 

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... 

Brazil has strongly criticized Canada over reports of spying on the country’s mining and energy ministry. On Monday, President Dilma Rousseff said her country seeks explanations from Canadian officials over the issue. She added that new revelations about the espionage activities by the US and its allies prove that economic motives are behind the move. The president called on Washington and Ottawa... 

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... 

The US Treasury has warned of catastrophic effects if a political stalemate over raising the government’s debt limit forces a US default on its obligations. The federal government is expected to exhaust its cash reserves by October 17 and if US lawmakers do not reach an agreement to raise the nation’s debt ceiling, the government will not be able to pay its bills and will default on its legal... 

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...