Republicans and Democrats quickly doled out blame to each other and China weighed in angrily after the first-ever downgrade in America's sterling credit rating — an expected but unsettling move that further clouds prospects for the recovery of the fragile U.S.
After months of bickering, posturing and name calling, Congress reached a debt deal. Legislators used every inch of room before hitting Tuesday’s debt-ceiling deadline. The deal passed the House and is expected to pass the Senate Tuesday. Still, nobody appeared to jump for joy.
The House of Representatives' vote to approve a bill raising the U.S. federal debt ceiling ended weeks of uncertainty and bitter debate. But even as the vote tally came in, the loudest cheers in the chamber were heard when Rep.