WASHINGTON — A special deficit-reduction supercommittee appears likely to admit failure on Monday, unable or unwilling to compromise on a mix of spending cuts and tax increases required to meet its assignment of saving taxpayers at least $1.2 trillion over the coming decade.The panel is sputtering t
Chicago Mayor Rahm Emanuel on Wednesday announced another crackdown on people who owe the city money.If you have unpaid parking tickets, or bank property fees and fines you haven't taken care of yet, Mayor Emanuel said it's time to pay up.
Updated 8/8/11 at 4:00p.m.CTThe Dow Jones Industrial Average posted one of its biggest single day losses in history Monday as the Dow dipped below the 11,000 mark for the first time since October, 2010. Similar declines were posted on the S&P 500 and the Nasdaq, each of whi
To allow for more flexible funding of World War I, the U.S. government enacted its first debt ceiling in 1917. Economist James Galbraith takes us through the history of the normally uncontroversial procedure. Galbraith is a professor of government at the University of Texas at Austin.