It has become a United States ritual more predictable than the date of the next presidential election. Barack Obama proposes a budget — and Republicans in Congress declare it dead on arrival.

Following weeks of conflict in Congress, Senate Minority Leader Mitch McConnell, left, said Republicans and Democrats are close to agreeing on a $2.4 trillion deal.

WASHINGTON (Reuters) - Here is what is happening on Friday as lawmakers scramble to close in on a deal for Congress to raise the government's $14.3 trillion borrowing limit by an August 2 deadline and avoid a debt default:

WASHINGTON (Reuters) - Here is what is happening on Sunday in negotiations to raise the U.S. $14.3 trillion debt limit.

For some ungodly reason, various so-called sophisticated investors still peg their hopes that gridlock in Congress/Senate will be good for stocks. Of course, never before has gridlock been the primary force preventing a new multi-trillion fiscal stimulus which is ultimately what is needed to provide the economy with a fresh sugar high (of course it won't do anything for the economy in the long ...