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Friday, July 15, 2011 - Page updated at 11:45 p.m.

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President Obama speaks during a press conference Friday morning at the White House on the status of talks to raise the debt limit and reduce deficits.

Enlarge this photoJEWEL SAMAD / AFP/GETTY IMAGES

President Obama speaks during a press conference Friday morning at the White House on the status of talks to raise the debt limit and reduce deficits. Read story

Debt showdown: Obama presses for 'something big'

Struggling to avert an unprecedented national default, congressional leaders jettisoned negotiations on a sweeping deficit-reduction package Friday despite a plea from President Barack Obama to "do something big" to stabilize America's finances.

Recent stories

Thursday, July 14

Dire warnings as California freeway closure looms

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U.S. files charges in antiquities-smuggling scheme

Japan walkout throws whaling talks into disarray

Pentagon discloses largest-ever cyber theft

Satellite image may indicate mass graves in Sudan

Al-Maliki's office accused of torture at secret jail

Bomber hits service for Afghan leader's brother

France celebrates Bastille Day with military parade and song

Government to test risk-based airport screening

Iraq and U.S. tiptoe around a withdrawal deadline

 

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