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US Economy - Page 23

House Republicans decided today to offer their own proposal that would tack on provisions changing President Barack Obama's signature health care reforms in what appeared to be a last-gasp effort to influence the agreement to reopen the government and raise the federal borrowing limit.

According to GOP sources and confirmed by Republican Rep. Darrell Issa of California, the House plan would include most of what is in the Senate agreement reached yesterday while adding a provision to suspend an Obamacare tax on medical devices for two years and remove federal health care subsidies for Obama and legislators when they obtain health coverage under the reforms.

In addition, the House proposal would forbid the Treasury from taking what it calls extraordinary measures to prevent the government from defaulting as cash runs low, in effect requiring hard deadlines to extend the federal debt ceiling. Issa said a House vote could occur as soon as today. Ref. CNN

Economy US

Fitch Ratings has placed the United States on "Rating Watch Negative" On the risk that the debt ceiling won't be raised in a timely manner before the Treasury exhausts extraordinary measures on Oct. 17, the credit rating agency announced. Ref. USAToday

US Economy History & Civil Business Politics

Formal announcement of a Senate deal to reopen the government and avoid a possible U.S. Default will come at noon on the Senate floor, a Republican Senate aide told CNN Chief Congressional Correspondent Dana Bash.

Stocks rallied on the news.

Earlier, GOP Sen. Kelly Ayotte said Senate leaders had worked out a deal. "I understand that they've come to an agreement but I'm going to let the leader announce that," Ayotte said.

Both the House and Senate will have to take special steps to get a measure passed and to President Obama's desk before the government's ability to borrow money runs out on Thursday. Ref. CNN

Page 23 Economy US

The legislation, which avoids a U.S. Debt default and ends the partial shutdown of the federal government, passed in the House on a 285-144 vote. It now heads to President Obama, who has pledged he will "Sign it immediately." The shutdown began Oct. 1, when Republicans refused to accept a stopgap spending bill unless the Affordable Care Act was defunded or delayed. The legislation passed Wednesday night does neither. Ref. USAToday

Economy US

Just 29% of Americans say that economic conditions in the country are good right now, according to a new CNN/ORC International poll. That's down four percentage points since late September -- just before the start of the partial government shutdown began -- and is at the lowest level of the year.

The survey also indicates that economic pessimism is growing in the wake of the shutdown, with nearly six in ten forecasting poor economic conditions a year from now. Ref. CNN

US Economy

The U.S. Economy expanded at a 2.8% annual rate from July through September, an unexpectedly strong performance that defied predictions that home sales pace, government shutdown would cut into growth. Ref. USAToday

US Economy - Page 23

US already third world economy: American economist:

"America is in the toilet, and the rest of the world knows it," He wrote, noting, "More small businesses close, as memberships decline in golf clubs, as more university graduates return home to live with their parents, who are drawing down their savings to live." Ref. Source 8

US Economy Politics Business Civil & History - Page 23

Fifty-nine percent of Americans say things are going poorly in the country now, an increase of nine points since April, according to a new CNN/ORC International poll. And the survey also indicates that less than a quarter of the public says that economic conditions are improving, while nearly four in 10 say the nation's economy is getting worse.

The poll was conducted November 18 to 20 for CNN by ORC International, with 843 adult Americans questioned by telephone. The survey's overall sampling error is plus or minus 3.5 percentage points. Ref. CNN