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Senate vote on budget bill
Senate vote on budget bill (CSPAN)
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House Joins Senate In Passing Budget Bill

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.

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Senate Minority Leader Mitch McConnell (R-KY) leaves the Senate floor
Senate Minority Leader Mitch McConnell (R-KY) leaves the Senate floor ( Win McNamee/Getty Images)
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Senate Leader Announces Bipartisan Budget Deal [VIDEO]

 

Senate leaders announced last-minute agreement Wednesday to avert a threatened Treasury default and reopen the government after a partial, 16-day shutdown. Congress raced to pass the measure by day's end.

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Win McNamee, Getty Images
Win McNamee, Getty Images
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Shutdown and Debt Crisis Hurting Economy Bigtime [AUDIO]

As Washington wrestles with a solution to a stalemate, shutdown and crisis, the economy is feeling the squeeze as the clock ticks on the deadline for debt default.

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Congress
Mark Wilson, Getty Images
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House Cancels Tuesday Night on Budget Bill

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.

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House Speaker John Boehner (R-OH) (L) and House Majority Whip Kevin McCarthy (R-CA) walk to a Republican caucus meeting at the U.S. Capitol,
House Speaker John Boehner (R-OH) (L) and House Majority Whip Kevin McCarthy (R-CA) walk to a Republican caucus meeting at the U.S. Capitol (Mark Wilson/Getty Images)
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House GOP Unveils Bill To Counter Senate Debt Plan [VIDEO]

Their backs against the wall, House GOP leaders scrambled Tuesday to forge a plan to counter an emerging bipartisan Senate deal to reopen the government and forestall a default on U.S. obligations.

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(L-R) U.S. Senate Minority Whip Sen. John Cornyn (R-TX), Senate Minority Leader Mitch McConnell (R-KY), and Sen. John Barrasso (R-WY) walk from McConnell's office to the Senate Chamber
(L-R) U.S. Senate Minority Whip Sen. John Cornyn (R-TX), Senate Minority Leader Mitch McConnell (R-KY), and Sen. John Barrasso (R-WY) walk from McConnell's office to the Senate Chamber (Andrew Burton/Getty Images)
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Senators Closing In On Deal To Reopen Government [VIDEO]

Senate leaders are closing in on an agreement to reopen the government and forestall an economy-rattling default on U.S. obligations.

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wall street
Spencer Platt, Getty Images
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Stocks Rise Amid Debt Ceiling Talks

Stocks rose Monday, helped by signs that Washington was moving closer to a deal that would avert a default by the U.S. government.

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Senate Minority Leader Mitch McConnell (R-KY)
Andrew Burton, Getty Images
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Reid, McConnell Optimistic On Debt-Shutdown Deal [VIDEO]

After weeks of stubborn gridlock, the Senate's top two leaders raced to reach an agreement Monday that could head off a first-ever U.S. Treasury default threatened for midweek and end the 14-day partial government shutdown.

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President Barack Obama (C) helps bag sandwiches with furloughed federal workers Health and Human Services
President Barack Obama (C) helps bag sandwiches with furloughed federal workers Health and Human Services (T.J. Kirkpatrick-Pool/Getty Images)
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Obama, Congressional Leaders To Meet Monday

President Barack Obama will meet with bipartisan congressional leaders at the White House Monday afternoon but says a default is a good possibility while Senate leaders say they are close to a deal.

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President Barack Obama (C) helps bag sandwiches with furloughed federal workers Health and Human Services
President Barack Obama (C) helps bag sandwiches with furloughed federal workers Health and Human Services (T.J. Kirkpatrick-Pool/Getty Images)
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Obama, Congressional Leaders To Meet Monday

President Barack Obama will meet with bipartisan congressional leaders at the White House Monday afternoon but says a default is a good possibility while Senate leaders say they are close to a deal.

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