Debt ceiling

Raising the debt ceiling used to be routine. Is now really different than before?

History reveals a controversial task for the debt limit that goes all the way back to World War I.

In the last week, we've heard of a possible Greek exit from the euro, a U.S. debt ceiling showdown, HP layoffs, and a Facebook stock lawsuit. How does this news affect our psyche and what stories should we focus on amid all the turmoil?

Last summer, the battle over raising the debt ceiling consumed D.C. And guess what -- new battle lines are being drawn again.

The U.S. Treasury is once again set to reach its borrowing limit. But this time around, it might not spark quite the same debates in Washington as last time around.

The White House is looking for another increase of the debt limit, which would bring the grand borrowing total to more than $16 trillion.

As of now, the markets are still going on despite the likely lack of a deal in the super committee this week. But much of that depends on the situation in Europe, which could turn around.

It was just last week that President Obama criticized the Europeans for not solving their debt issues. But it looks like we aren't faring much better here in the U.S.

The super committee has until Wednesday to reach a debt deal, but it is looking increasingly likely that real decisions won't get made until after the elections of 2012.

As it looks more and more likely that the super committee will fail to reach a deal, a look back at previous attempts to solve the debt crisis.