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Tim Pawlenty quits US presidential race

Pawlenty was initially expected to be a strong challenger to Mitt Romney, but his campaign failed to gain momentum.

Mitt Romney discloses net worth

S&P downgrades U.S. credit rating

Until Friday, the U.S. had never fallen below AAA, the S&P’s top credit ranking, since the agency first issued the rating in 1941.

Obama signs compromise debt-ceiling bill into law, ending "long and contentious debate" (VIDEO)

The legislation gives Obama the authority to raise to raise the $14.3 trillion debt ceiling by at least $2.1 trillion spread over 10 years in exchange for budget cuts. 

U.S. Congress prepares to vote on debt deal

The United States is staring down a Tuesday deadline to raise its debt ceiling or risk the first full-scale default in its history.

Global markets rally on news of U.S. debt deal

European and Asian financial markets rallied early Monday, setting a tone for a stronger opening on Wall Street.

Asian stocks rise on news of US debt deal

Agreement is reached to end U.S. debt crisis, Obama says

Obama said the agreement would result in the lowest level of domestic spending since the Eisenhower administration.
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