The House of Representatives defeated a proposal Tuesday that would have raised the nation's debt limit without any spending constraints, a vote called by Republicans to bolster their case for steep budget reductions in talks with the White House.

Republicans overwhelmingly reject bid to increase the debt limit without tying the move to drastic spending cuts

The Republican-controlled House of Representatives is expected to vote down legislation Tuesday that would raise the federal government's debt limit by approximately $2.4 trillion without requiring any new spending cuts.

For all those "I just want to click and have planning over with" foodie fiancées out there who have really high credit limits, Gilt City has the deal for you: a 75-person wedding at Blackbird, including cake, flowers, a six-hour open bar, and food. Blackbird will also throw in the location, as well as a DJ. The only catch, besides the fact that the thing has to be on a Sunday night? The whole shebang will run dearly beloveds a cool $28,000.

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(CBC) -- Eight times a year, the attention of Canada's financial world collectively turns to the governor of the Bank of Canada. On those select days -- always a Tuesday -- the central bank boss issues a short statement in the morning that attracts an extraordinary amount of scrutiny from a gaggle of analysts and bankers.

Why all the attention? It's because these statements are all about interest rates. This is where bankers, business people, homeowners and debtors all find out if the cost of money is going up or down -- now and in the near future.

Raising and lowering interest rates is the Bank of Canada's primary tool to either jump-start the economy or try to cool it down. This is when Canadians find out if the interest rates on their variable mortgages or lines of credit are changing.

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Sen. Mitch McConnell and presidential candidate Tim Pawlenty reiterate opposition to raising the U.S. debt ceiling without major moves to slash the deficit.

Two top Republicans said Sunday they opposed raising the nation's debt ceiling without major moves to slash the federal deficit, a stance that suggests the GOP may be heading toward a high-stakes showdown with Democrats as the deadline for congressional action nears.

Harry Smith spoke with Gov. Jay Nixon (D-Mo.) on how people in Joplin are coping with the devastation caused by a massive tornado and if the government will provide financial aid toward rebuilding the town.

This week Bibi Netanyahu addressed Congress; President Obama extended the Patriot Act for another four years; prosecutors moved another step closer to indicting John Edwards for misusing campaign funds to cover up his affair with Rielle Hunter; and Newt Gingrich scrambled to reconcile his claims of being "very frugal" with his $500,000 revolving line of credit at Tiffany. Meanwhile, in a political version of The Hangover sequel, the GOP's leadership, drunk on Tea (Party), did something wild and crazy -- creating a plan to gut and privatize Medicare, and pressuring elected Republicans to vote for it -- only to wake up in New York's 26th District with a pounding morning-after headache. If Democrats don't provide a cure by agreeing to deep cuts in Medicare as part of a deal to raise the government's debt ceiling, this GOP hangover could last until November 2012.
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VP credits gov't intervention for job creation, trumpets Chrysler's repayment of loan six years ahead of schedule

I will always remember that my present enjoyment of life has been made possible only through the debt of blood paid for me by another. There can be no meaningless and empty days ahead of me.
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