What happens to Social Security if the U.S. breaches the debt ceiling?
Millions of Social Security recipients "need to be very careful" about spending because payments could be delayed, one expert said.
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Millions of Social Security recipients "need to be very careful" about spending because payments could be delayed, one expert said.
The treasury secretary also told G-7 finance ministers and central bank chiefs meeting in Japan that a first-ever U.S. default on its debts is "unthinkable."
The U.S. may be unable to pay its bills within weeks if Congress does not raise or suspend the debt ceiling.
Bob Schieffer spoke with Sen. Mitch McConnell (R-Ky.) and Sen. Charles Schumer (D-NY) on the potential deal between the White House and the GOP over raising the nation's debt ceiling; Also, Bob Schieffer lends his advice on how the White House should portray the president.
Bob Schieffer is joined by White House Chief of Staff William Daley, Sen. Jon Kyl (R-Ariz.), Sen, Richard Durbin (D-Ill.), Sen. Saxby Chambliss (R-Ga.), and Sen. Mark Warner (D-Va.) to answer the key questions in the debt deal negotiations and if Washington can break their gridlock before the nation stumbles into its first financial default.
Partisan bickering continues in Washington in the aftermath of the downgrade of U.S. credit. Whit Johnson reports.
Lloyd Blankfein says going over fiscal cliff would shake confidence in investing in the United States
Partisan battle looming, Obama not willing to negotiate
The House passed a bill that buys the country another four months
Budget Committee chairman Paul Ryan says it would allow more time for Republicans to work on spending cuts with Democrats
Leading rating agency says battle over hiking debt ceiling lid jeopardizing triple-A rating
Def. Sec. Leon Panetta warns: "Fiscal uncertainty has become a serious threat to our national security"
Supporters claim breaks are not pork, rather job creating provisions
Senate leaders working behind the scenes on compromise to present to full Senate
No deal yet, but progress evident in final days
Democrat, GOP leaders agree to extend jobless benefits, but still deadlocked on tax increases
The "fiscal cliff" could have serious repercussions for the nation, including when it comes to property ownership
Risky move intended to improve leverage with Obama, leaves Speaker weaker
On deal Obama a "hopeless optimist," Boehner says "God only knows"
The White House slammed the plan calling it an "exercise in futility"
Obama, Boehner trade ultimatums
President Obama answered questions about his negotiations with Congressional Republicans over solving the country's deficit
The "Plan B" is a sign that the speaker knows he is running out of time to push the president closer to the republican position
Negotiations on a debt deal are pushing forward at the highest levels
A majority of Americans, including a third of Republicans, say the GOP would be to blame if Washington can't avert the "fiscal cliff"