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S&P Fires Warning on US Debt [VIDEO]

White House: Obama Regrets Vote Against Raising Debt Limit

WASHINGTON -- The White House says President Barack Obama regrets his vote as a senator in 2006 against raising the debt limit. A fight over raising the debt limit is looming, and the White House is trying to explain away the apparent contradiction between Obama's previous opposition, and his position now that it must be...

White House: Obama to Lay Out New Spending Plan to Cut Deficit

WASHINGTON - One budget deal down, President Barack Obama and Congress began to pivot Sunday from the painful standoff over this year's spending to a pair of defining debates over the nation's borrowing limit and the election-year budget. Much will be revealed at midweek, when the House and Senate are expected to vote on...

Opinion: Are We Broke Yet? [VIDEO]

"The nation is not broke, my friends," opines guerrilla filmmaker and amateur accountant Michael Moore. "Wisconsin is not broke. Saying that the country is broke is repeating a big lie." Relax, America, it turns out that all that talk about local, state and federal government being broke is just total B.S. or, as The...

Opinion: Washington's Mythical Debt Problem

Congressman Mike Kelly is one of the new crop of Republican members of the 112th Congress, and like many of his conservative brethren, he is mad as hell at Washington's profligate and "irresponsible" spending ways and the federal debt. It's precisely Kelly's sort of populist anger that has fueled the Republicans' return...