Raising the Debt Ceiling

Russian Prime Minister Vladimir Putin is "living beyond its means" and world should move away from U.S. dollar as reserve currency.

In Japan, a debt downgrade meant a generation of workers struggled to break away from hourly work to get into the more stable, salaried work-force.

The proposal announced late yesterday calls for big cuts over the next decade, including nearly $2.5 trillion to defense and entitlement programs

Voting gets underway today on a plan to raise the nation's debt ceiling. The proposal calls for $2.4 trillion in cuts over the next decade, including to defense and entitlement programs.

The tentative debt plan initially cuts over $350 billion from the Pentagon's budget -- and more cuts could come eventually

Economist Julia Coronado says jobs and economic data indicate the economy needs help -- not cuts. But despite the headwinds, economy is not heading to recession.

The credit rating agencies could still downgrade U.S. debt because of worries over our overall debt load.

Republican and Democratic lawmakers are expected to vote today on the tentative deal to raise the debt ceiling. But it's unclear what, if any, of the budget solution will come from taxes.

Moody's Analytics chief economist Mark Zandi says that the debt deal is a good first step, and that he expects the U.S. to keep its top-notch credit rating.

A possible deal to raise the U.S. debt ceiling has cheered the markets, and calmed fears that the global economy was about to face another financial crisis.