08/02/11
Marketplace Morning Report for Tuesday, August 2, 2011
Episode Description:
Marketplace Morning Report for Tuesday, August 2, 2011
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Where's the debt ceiling after-party?
Analyst Juli Niemann explains that the U.S. Congress says it made tough choices -- without actually having made all those tough choices.
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The debt ceiling and student loans: How the deal could affect your education
Some of the federal savings will come at the expense of graduate students who are losing a subsidized loan program which doesn't charge them any interest until months after they graduate.
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After debt drama, Putin calls U.S. a "parasite"
Russian Prime Minister Vladimir Putin is "living beyond its means" and world should move away from U.S. dollar as reserve currency.
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FAA dispute centers on rural subsidies, union fight
Congress may not come to a decision on the FAA budget for at least month, curtailing about $200 million a week in tax revenues. That means no work for 4,000 agency employees and 70,000 construction workers.
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What happens to a country after a debt downgrade?
In Japan, a debt downgrade meant a generation of workers struggled to break away from hourly work to get into the more stable, salaried work-force.
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Health care on the chopping block in an age of austerity
Medicare and health care cuts are back on the table in Washington as the debt-ceiling deal heads to the Senate for a vote this morning.
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Senators meet on mortgage servicers
Right now there are no rules governing mortgage servicers, the people who take a borrower's monthly payments and distribute the money to investors. The Senate Banking Committee debates some new standards today
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D.C. Metro's escalators cause transit nightmare
Only 60 percent of the Metro's 600 escalators in Washington, D.C. are functioning at any one time, adding an obstacle to riders' commutes
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Iceland strongly recovering from bankruptcy
Iceland's entire financial system collapsed three years ago, and despite being unable to bail itself out of trouble, the country is already recovering quickly and strongly. What can the Eurozone learn from this?
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Labor too expensive? Get a robot
Chinese factory owner Foxconn assembles iPads and iPhones and has now announced that in the next few years it will replace a portion of its workforce -- with robots.
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