U.S. on the Brink of Default
Wednesday, October 16, 2013
Vol.2, No. 292
At The Br$nk: Day 16. Senate leaders are expected at mid-day to announce a deal to re-open the government and raise the debt ceiling, but they will have to put the bill on a fast track to avoid debt default tomorrow. After a monumental battle, the resolution is expected to include only a minor adjustment to Obamacare qualification rules and some Tea Party Republicans in the House are still holding out.
The agreement will fund the government only through Jan. 15 and raise the debt ceiling enough to last until February. Negotiators from both parties would be required to produce a budget plan by Dec. 13.
The Treasury says it has about $35 billion in cash on hand, small change in the operation of the US government, providing a day, give or take, to pay the bills. The global credit rating agency Fitch put the US on a “negative” watch, not an actual downgrade of its credit rating, but a shot across the bow.
World: At least 17 people are dead and about 50 missing after a typhoon hit the coast of Japan. As much as 30 inches of rain fell in some areas.
National: Former San Diego Mayor Bob Filner pleaded guilty yesterday to felony charges of false imprisonment and battery involving three “Jane Does”. One incident involved putting a woman in a headlock. Facing a welter of accusations from women who said they had been groped and propositioned, Filner resigned in August, claiming he was the victim of a lynch mob. He made the plea in exchange for three years on probation.
- President Obama yesterday awarded the Medal of Honor to former Army Capt. William Swenson for his actions in a 2009 battle in Afghanistan. The MOH was awarded two years ago to another soldier in the same battle. Swenson’s award was delayed because his file was lost but there are suspicions someone tried to derail his recommendation because he was critical of higher-ups for leaving his unit without air and artillery support in the first hours of the fight. Swenson has been unemployed since leaving the Army nearly three years ago and has made the rare request for a MOH recipient to return to active service.
Accused: Florida authorities have arrested two teenage girls and charged them with felony cyber-stalking of a girl who committed suicide under the pressure of social media attacks. The accused are 12 and 14 years old. Rebecca Sedwick, 12, jumped off a concrete tower on Sept. 9.
- Police have arrested a 28-year-old baggage handler for the dry ice explosions at Los Angeles International Airport. Police say the incident may have been connected to a labor dispute. They say the handler took dry ice from an airplane and put it in 20-ounce plastic bottles.
That’s the Business: A notorious Somali pirate known as “Big Mouth” was arrested in Brussels during a sting operation in which he was offered a phony deal to be an advisor on a movie about piracy. Big Mouth didn’t know that everyone gets screwed on a movie deal.
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