PODCAST: The economic impact of the debt limit fight
Senate Minority Leader Mitch McConnell (R-KY) (C) arrives at the U.S. Capitol October 15, 2013 in Washington, DC. The U.S. government shutdown is entering its fifteenth day as the U.S. Senate and House of Representatives remain gridlocked on funding the federal government.
Senate leaders say they're close to a deal that would re-open the government and raise the debt ceiling. But there's still some horse trading going on. Some of it does involve nips and tucks to President Obama's health care reform law. And there's a developing scenario where the Senate would agree to lift the federal limit on borrowing until early next year. One Republican lawmaker says the House would accept the Senate time frame. But if revisiting the debt ceiling soon is a component of the resolution, what does that mean to the economy?
Today in Geneva, U.S. delegates will sit down to negotiate with counterparts from Iran. Representatives from Great Britain, France, Germany, Russia, and China will also join the two-day meeting related to Iran’s nuclear program. To ratchet-up the pressure, the international community has implemented a series of tough economic sanctions. Over time, they’ve had a big financial impact on the average Iranian. Those at the bottom of the economic ladder find it harder to eat.
United Airlines is launching a new in-flight magazine, but don't expect to see it unless you're flying first or business class. The magazine is aimed at United's more affluent travelers. And the airline plans to capitalize on every second they're unplugged.