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White House Open To Short-Term Deal On Debt Limit; House GOP Not Interested; China Cautions On Default; Most Don’t Want To Raise Debt Limit; Careless Congress; Where Have All The Millionaires Gone?; ‘Affordable’ Obamacare – Tuesday Morning News Roundup 10-8-2013

October 8, 2013 by  

Here is a collection of some of the stories making the Internet rounds this morning. Click the links for the full stories.

  • On Monday, White House officials said they were willing to accept a short-term measure to extend the debt ceiling, possibly for a few weeks, to allow lawmakers to work out a longer-term resolution. But they said that wasn’t their preferred course. “It is the responsibility of Congress to decide how long and how often they want to vote,” White House adviser Gene Sperling said Monday at a breakfast organized by POLITICO. “The important thing is that they not threaten default.” Source: The Wall Street Journal…

 

  • House Republicans will opt not to push a short-term extension of the debt ceiling, and instead will move quickly to bring two bills to the floor that they hope will be approved, merged, and sent to the Senate in short order, according to senior GOP aides. The first piece of legislation would ensure that paychecks for essential government employees who have been working through the shutdown are delivered on time. The second measure would establish a bipartisan negotiating team for the debt-ceiling and other fiscal debates. Source: National Journal…

 

  • China, the biggest foreign creditor of the United States, has waded into the American budget crisis, warning Congress that it must resolve the political impasse over the debt ceiling without further delay. The Chinese Vice Foreign Minister, Zhu Guangyao, told America’s deadlocked politicians on Monday that “the clock is ticking” and called on them to approve an extension of the national borrowing limit before the federal government is projected to run out of cash on 17 October. Source: The Independent…

 

  • A Fox News national poll asks voters to imagine being a lawmaker and having to cast an up-or-down vote on raising the debt ceiling:  37 percent would vote in favor of it, while 58 percent would vote against it. Source: Fox News…

 

  • The fact that America has repeatedly survived careless behavior – and bounced back from crises – has bolstered the inward-looking complacency in Washington. That, in turn, seems to have persuaded U.S. politicians that they can take ever greater risks with the nation’s finances. But repeated games of Russian roulette are never advisable. It is certainly possible that this time Congress will spin the chamber – and find that there really is a bullet in it. Source: Financial Times…

 

  • The Asia-Pacific region, which includes Australia, China and India, is on course to topple the US as being home to the majority of the world’s millionaires by next year. The region held the title in 2011, having done better than the US, which was suffering in the aftermath of the banking crisis. From 2007 to 2012, Asia-Pacific’s millionaire population and wealth increased at double and triple the rates of the rest of the world. The US rallied last year, and although Asia-Pacific’s super-rich population rose by 9.4 per cent to reach 3.68 million, the top spot went to the US, which rose 11.5 per cent to 3.74 million. Source: The Telegraph…

 

  • Problems with the main “Obamacare” website, HealthCare.gov, have dominated headlines since the site opened for business on Oct. 1. But as Obamacare begins to roll out, another problem is surfacing: some people who already buy insurance on the individual market are getting cancellation notices – and offers for coverage at double and triple their old rates. Source: The Christian Science Monitor…

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