Debt Ceiling

Up against a deadline, Congress passed and sent a waiting President Barack Obama legislation late Wednesday night to avoid a threatened national default and end the 16-day partial government shutdown, the culmination of an epic political drama that placed the U.S. economy at risk.

Time growing desperately short, Senate leaders took command of efforts to avert a Treasury default and end the partial government shutdown Tuesday night after a last big attempt by House Republicans abruptly collapsed.

The United States moved perilously closer to an economy-rattling default as a partial government shutdown entered its third week as Senate Democratic and Republican leaders remained at odds over spending in their last-ditch negotiations to end the crises gripping the nation.

Racing the calendar and the financial markets, Senate leaders have taken the helm in the search for a deal to end the partial government shutdown and avert a federal default.

President Barack Obama has met with Senate Democratic leaders at the White House as the impasse drags on over the government shutdown and the nation's credit limit.

House Speaker John Boehner is telling fellow Republicans that talks with President Barack Obama over ending the partial government shutdown and preventing a federal default have stalled

Efforts accelerated in Congress on Friday to keep the U.S. Treasury from defaulting as early as next week and to end the partial government shutdown that stretched through an 11th day.

House Speaker John Boehner told Republican lawmakers Thursday he will give President Barack Obama a proposal extending the government's ability to borrow money through Nov. 22 — but only if he agrees to negotiate over ending the partial government shutdown and a longer-term increase in the debt ceiling.

House Republican leaders are considering a short-term increase in the U.S. debt limit as a possible way to break the gridlock that threatens the nation with an unprecedented default in as little as a week, officials said Wednesday night.

Republicans and Democrats have made no significant progress is getting federal employees back to work and raising the debt limit.