Business

4:44am

Thu October 10, 2013
Politics

10 Days Into Shutdown, 'We've Got To Do Better Than This'

Originally published on Thu October 10, 2013 7:39 am

Transcript

STEVE INSKEEP, HOST:

Now, the partial shutdown prompted angry debate across the country. But at the center of that debate, we found quiet yesterday. We dropped by a Senate office building where the halls were empty. Papers taped on doors read: We regret that due to the government shutdown our office is closed. *

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4:44am

Thu October 10, 2013
Business

Man Mows Lawn Around Lincoln Memorial During Shutdown

Originally published on Thu October 10, 2013 7:39 am

Because of the partial government shutdown, most of the monumental core in Washington, D.C. is not being maintained. But on Wednesday, Chris Cox of South Carolina bought an old lawn mower and a leaf blower and got to work.

4:44am

Thu October 10, 2013
Business

Fidelity Sells Short-Term U.S. Government Debt

Originally published on Thu October 10, 2013 7:39 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with worry about American debt.

(SOUNDBITE OF MUSIC)

INSKEEP: Fidelity Investments has sold all of its short-term U.S. government debt. That limits losses for the country's largest manager of money market funds in case the U.S. Treasury run out of money on October 17th and Congress does not do something about the federal debt limit.

Fidelity's president said this move was precautionary. Transcript provided by NPR, Copyright NPR.

4:44am

Thu October 10, 2013
Politics

Some Republicans Say Debt Limit Fuss Is A Lot Of Hype

Originally published on Thu October 10, 2013 5:51 pm

Rep. Phil Gingrey, R-Ga., says it's "absolutely not true" to suggest that the U.S. can't pay its debts without raising the debt ceiling.
David Goldman AP

For weeks, economists and bankers have been warning that there will be catastrophic consequences if Congress fails raise the nation's borrowing limit.

They say it will mean the nation will default on its debt, which could rock U.S. and global markets. The Treasury has warned that it will exhaust the "extraordinary measures" it has been using to keep paying the nation's bills by Oct. 17.

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4:44am

Thu October 10, 2013
Politics

Shutdown Hits Usually Stable Business: Government Contractors

Originally published on Thu October 10, 2013 7:39 am

Transcript

STEVE INSKEEP, HOST:

More than 400,000 federal workers remain on furlough. That's the situation even after many Defense Department workers were called back to the office. And then there are federal contractors. These are private American business owners and workers who've taken over more and more government functions in recent years and who are now feeling the pain of a shutdown.

NPR's Yuki Noguchi reports.

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3:00am

Thu October 10, 2013
Planet Money

What A U.S. Default Would Mean For Pensions, China And Social Security

Originally published on Thu October 10, 2013 12:38 pm

iStockphoto.com

What would happen if Congress doesn't raise the debt ceiling and the U.S. defaults on its debt later this month? The broad economic implications are unpredictable, but a default could cause huge trouble for the global economy.

But whatever happens to the global economy, one thing is clear: People all over the world who have loaned the U.S. government money won't get paid on time.

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2:56am

Thu October 10, 2013
Business

When It Comes To Jobs, Not All Small Businesses Make It Big

Originally published on Wed October 16, 2013 4:38 pm

Sweetgreen co-founders Nathaniel Ru (from left), Jonathan Neman and Nicolas Jammet at the opening of a Virginia location last year.
Courtesy of Sweetgreen

Part of a series about small businesses in America

When it comes to job creation, politicians talk about small businesses as the engines of the U.S. economy. It's been a familiar refrain among politicians from both major parties for years.

But it obscures the economic reality. It makes a nice slogan, but it's not really accurate to say that small businesses produce most of the nation's new jobs, says John Haltiwanger, an economics professor at the University of Maryland.

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2:56am

Thu October 10, 2013
Environment

Whatever Happened To The Deal To Save The Everglades?

Originally published on Thu October 10, 2013 11:49 am

Mechanical harvesters cut sugar cane on U.S. Sugar Corp. land in Clewiston, Fla., in 2008, the same year the state struck a deal to buy most of the company's Everglades holdings.
Joe Raedle Getty Images

South of Florida's Lake Okeechobee, hundreds of thousands of acres of sugar cane thrive in the heart of one of the world's largest wetlands. The Everglades stretches from the tip of the peninsula to central Florida, north of Lake Okeechobee.

"The Everglades actually begins at Shingle Creek, outside of Orlando," says Jonathan Ullman of the Sierra Club.

That's nearly 200 miles north of the agricultural land that Ullman and other environmentalists say is crucial to state and federal efforts to restore the wetlands area to a healthy ecosystem.

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7:04pm

Wed October 9, 2013
It's All Politics

Shutdown Diary: Paul Ryan's Plan Gets Tea Party Pushback

Originally published on Wed October 9, 2013 7:13 pm

Rep. Paul Ryan, R-Wis., offered a path forward in the fiscal stalemate, but Tea Party hard-liners weren't impressed.
Mark Wilson Getty Images

Are House Republicans still seeking Democratic concessions on the Affordable Care Act? Or have they switched their sights to even bigger targets: federal spending on entitlements like Medicare and Social Security?

The answer on Wednesday depended on which Republican you asked.

Paul Ryan's Pitch

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7:02pm

Wed October 9, 2013
Business

Yellen Faces A Tough Job At The Fed From Day 1

President Obama stands with Janet Yellen, his choice to lead the Federal Reserve Board, at the White House on Wednesday.
Charles Dharapak AP

Starting a new job is always tough. You want early success to prove you really were the right pick.

That's especially true if you happen to be the first woman to hold that job. Ever.

So when President Obama on Wednesday nominated Janet Yellen to lead the Federal Reserve, she might have had two reactions: 1) Yippee and 2) Uh-oh.

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