Originally published on Wed October 16, 2013 1:40 pm
Since the start of the fiscal standoff that led to a government shutdown and a flirtation with a historic debt default, Democrats have been led by the tag team of President Obama and Senate Majority Leader Harry Reid.
At times, their tactics resembled the good cop, bad cop routine where one officer offers the suspect a cup of coffee and the other smacks it from the suspect's lips. Reid, of course, is the smacker.
Originally published on Wed October 16, 2013 8:23 pm
Update at 10:18 p.m.: House Approves Bill:
The crisis is over. With about two hours before the country reached the debt ceiling, the House has approved the bill and it is now it's way to the White House. We've posted separately on that development and we are putting this live blog to bed.
This is MORNING EDITION from NPR News. I'm Renee Montagne.
STEVE INSKEEP, HOST:
And I'm Steve Inskeep. The prospects for a deal to avoid default and reopen the government now depend on the U.S. Senate, whose members include Saxby Chambliss, Republican of Georgia, who's on the line. Senator, welcome back to the program.
SENATOR SAXBY CHAMBLISS: Good to be with you, Steve.
Now, Treasury Secretary Jack Lew has warned Congress tomorrow, the 17th of October, is the day the government will likely have only about $30 billion on hand, which sounds like a lot. But sometimes, daily expenditures get a lot higher than that. This does not mean the government will default tomorrow if Congress does not act. As NPR's John Ydstie reports, the U.S. could manage to get through the next few days. But without a deal, the threat of default rises sharply next week.
With the threat of a government default looming, House leaders tried to take the upper hand in the standoff with a bill appealing to their most conservative members. They failed, resulting in chaos in the House and giving the initiative back to the Senate.
This could be the last day the United States is assured of its borrowing authority. Congress could forestall this crisis by raising the debt ceiling, as it has roughly a hundred times before. But the debt ceiling is tied to the same confrontation that's kept much of the federal government shut down.
The possibility of an American default on its debt is huge news across the continent. Europe is barely emerging from its own debt crisis. Europe's recovery rests on demand for its exports and the U.S. is by far the European Union's largest export market.
Irene Adams cooks supper for husband, Luke, and 2-year-old son, Cole, at their home in Fayetteville, Ark. She used to serve lots of green beans, but switched to edamame after tasting it at a local restaurant.
"[Cole] used to split his green beans and take out the little seeds inside," Adams says. "So I told Luke we should try edamame, because it's bigger seeds and has more flavor, so that's why we decided to try it and he loves it."
Tuesday, Oct. 15,is the filing deadline for the roughly 12 million Americans who received an extension on their 2012 taxes. And having 90 percent of its staff furloughed in the partial government shutdown doesn't mean the IRS doesn't want your money.
"The IRS is shut down, but the tax law is never shut down," says Joshua Blank, professor of tax practice and faculty director of New York University Law School's Graduate Tax Program.
Over the past few weeks, a debate has raged here in Washington about the U.S. food supply. The big question: Is the government shutdown making our food less safe. Since October 1st, both the FDA and the Centers for Disease Control and Prevention have had to furlough workers, and that includes some workers involved in the inspection of food processing plants and who monitor outbreaks of food-borne illness.
Originally published on Tue October 15, 2013 11:41 am
Here's a way to stop hungry shoppers from leaving the store for dinner.
Brooks Brothers, the 195-year-old luxury apparel company, is looking to open a restaurant next summer next to its flagship store in Manhattan, a company spokesman tells NPR. The New York Postreports that the restaurant will be a steakhouse — a fitting culinary accompaniment for the purveyor of fine business suits for the moneyed set, we think.
This is TELL ME MORE from NPR News. I'm Michel Martin. You might've been hearing the name Malala Yousafzai. She is the Pakistani teenager who was shot at point-blank range by Taliban extremists a year ago because she dared to speak up about her desire to go to school. She has made a remarkable recovery. She is in the U.S. now. I spoke with her a few days ago and we'll bring you a portion of that conversation a little later in the program.
Originally published on Tue October 15, 2013 1:45 pm
After going a year without a permanent executive in charge of its retail division, Apple said Tuesday morning that it is hiring Burberry CEO Angela Ahrendts as a senior vice president. She will be the first woman on Apple's team of senior executives.
A veteran of the fashion industry, Ahrendts, 53, is a native of New Palestine, Ind., who has headed Britain's Burberry since 2006. On Tuesday, the company reported total revenue of more than $1.64 billion in the six-month period that ended Sept. 30. Her tenure included a successful revamping of the company's online store.
The calendar says October, but retailers and economists are already analyzing the holiday shopping season. With budget battles gripping Washington and an economy that's still recovering, there are mixed feelings about how far shoppers will open their wallets.
Steve Inskeep talks to Jonathan Chait, a commentator for New York magazine about how liberals are viewing the current budget negotiations in Congress, and if they might be willing to compromise on a deal.
With the debt ceiling deadline looming just two days away, Senate leaders say they're close to a deal that would reopen the government and avert default. Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell have been leading bipartisan talks on a way out of the deadlock. Even if a bipartisan agreement clears the Senate, it will likely be a hard sell to House Republicans.
Angela Ahrendts will oversee the expansion of Apple retail and online stores. It's a newly created position for Ahrendts, who will report directly to Apple CEO Tim Cook. Since taking over Burberry in 2006, Ahrendts has nearly tripled revenue for the company — known for its distinctive tartan patterns.
A street vendor outside New York's Central Park sold eight prints by the mysterious British street artist who goes by the name Banksy. Some of Banksy's most recognizable works sold for just $60. Many of the pieces are estimated to be worth more than $30,000. It was part of a social experiment.
Originally published on Tue October 15, 2013 3:36 am
STEVE INSKEEP, HOST:
Now, here's a reality about farming. From the earliest days of this country, it's been an uncertain business, and for many decades, national policies have been designed to smooth out that risk. But, of course, the risk never entirely goes away. You can never control the rain, for example, and lately the uncertainty has been growing. Corn prices are down. The farm bill is stalled in Congress and there's a sense that good times may be fading.
From Nebraska, Grant Gerlock of NET News brings us his report.
For many online and other small businesses, getting a loan or a big cash advance is tough. Banks and other traditional lenders are often leery of those without years of financial statements and solid credit scores.
But some lenders and other financial services companies are beginning to assess credit risk differently — using criteria you might not expect.
Jeffrey Grossman is an acupuncturist in Bellingham, Wash. He's also a small businessman. He creates media marketing materials for other acupuncturists hoping to expand their practice.
Originally published on Mon October 14, 2013 10:49 pm
Monday marks the last day of newsstand sales of the International Herald Tribune, the newspaper that was once instrumental in keeping American expatriates up to date on their homeland. On Tuesday, the paper will bear a new name: The International New York Times.
This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.
The Nobel Memorial Prize in Economics went to three American professors today. In announcing the honor, the Royal Swedish Academy of Sciences said the men all contribute to our understanding of how markets price things like stocks and homes. But as NPR's Dan Bobkoff reports, that doesn't mean the three economists always agree.