Factbox: When could the debt ceiling put the United States in default?

Boehner: conversation/conversation/conversation But President Obama says no negotiations on the budget – unless House Republicans drop their demands about the Health Care law. There are at least 21 House Republicans who said they’ ll support a clean spending bill that gets the government back up and running -and doesn’t include changes to Obamacare But Speaker Boehner insists. Boehner: There are not the votes in the House to pass a clean CR. So yesterday, a top democrat issued a challenge: Sen. Charles Schumer D-NY: Speaker Boehner, just vote. Put it on the floor and let’s see if you’re right. Stocks were down after the opening bell today as Wall Street grows more concerned about the next looming crisis. Speaker Boehner said yesterday he doesn’t want the US government to default on its debts – which could happen on October 17 unless the debt ceiling is raised. Boehner said it’s President Obama’s refusal to negotiate spending cuts that puts the nation at risk. Boehner: We’re not going to pass a clean debt limit increase. Treasury Secretary Jack Lew warned on Sunday that if the government hits its borrowing limit – there could be catastrophic consequences in the global financial markets And Social Security, Medicare, and Medicaid benefits could be put on hold. Jack Lew: Treasury Secretary Congress is playing with fire. If they don’t extend the debt limit, we have a very, very short window of time before those scenarios start to be played out.

United States

4, 2013: 4AutoInsuranceQuote.com, a website that offers car insurance quotes to drivers throughout the United States, has just posted a new article to the site that lists the five countries that have the highest auto insurance rates. As the article, Highest Car Insurance Rates , noted, the United States holds the dubious honor of being the most costly country for purchasing car insurance. According to the newly-posted article, the average amount that people pay for car insurance in the United States is a whopping $1,706.86 per year. With the average income for most Americans hovering right around $50,000, the article points out that this equates to around 3 percent of a person’s annual income going towards car insurance. Since each state varies in terms of how much drivers pay, the average figure does vary a bit depending on where people live; for example, in some states drivers might pay around $1,000 per year for auto insurance, while in others it can soar to well over $2,000 annually. While the overall cost of car insurance also varies from country to country, the main factors that drive up the price of premiums are essentially the same no matter where somebody lives. For example, the article said, insurance companies take the safety of the roads in the particular country into consideration, as well as the types of vehicles that people are driving there. “In general, you are going to find that the wealthier nations are actually the places where auto insurance tends to be the most expensive,” the article noted, adding that the various issues that influence how much people will pay for car insurance can change from region to region in places like the United States. “If you want to know where you are going to pay the most for car insurance, then you have to look at the places where people are driving fancy sports cars and seem to always find themselves in an auto accident.” Coming in at second place on the list of the top five costly car insurance countries is Austria, where insurance is typically paid for on a month-to-month basis. Germany, the United Kingdom, and Australia round out the rest of the list. Search The Auto Channel

Presidents Cup 2013: Analyzing United States’ Triumph over International Team

The Obama administration says default would include any missed payment, such as payments for public health insurance. The first really big bill due after hitting the debt ceiling is a $12 billion Social Security payment on October 23. – When would financial markets melt down? Markets would be alarmed if it looked like bondholders would go unpaid for an extended period, and might even panic if any government checks were delayed. Many analysts think the administration would at least try to prioritize payments on the national debt, but Treasury officials say picking and choosing which bills to pay would be impossible. The first debt payments due after hitting the debt ceiling are on October 17, 24 and 31. The first of those shouldn’t be a problem, according the CBO analysis. But there might not be enough money for the payments due on the 24th or the 31st. – How would default affect the economy? It would sink like a stone. Once default began, the government would have to slash its spending overnight by about a third.

United States enters 2nd week of federal government shutdown

The SUV will offer the latest features in luxury, connectivity and safety, the automaker said today…. Read More VW’s top labor leader to meet Tennessee workers, report says 10:28 am U.S. ET | Oct. 1, 2013 Volkswagen AG’s most influential labor leader will meet with workers at the German automaker’s plant in Chattanooga, Tenn., on Wednesday to discuss the possibility of the UAW representing them, several sources told Reuters…. Read More Toyota loses bid in U.S. court to get acceleration-injury suit thrown out 8:19 am U.S. ET | Oct. 1, 2013 Toyota tentatively lost a bid to get a federal court judge to throw out a lawsuit claiming one of its vehicles suddenly accelerated and caused an accident that left a woman severely injured…. Read More A decade of delay: The Alfa Romeo saga 12:01 am U.S. ET | Sept. 30, 2013 So where are you, Alfa Romeo? Fiat’s sporty/premium brand was scheduled to return to the United States by the end of this year, with the 4C sports car. But the launch has been delayed until the second quarter of 2014, rounding out a decade of disappointment for American Alfisti…. Read More Infiniti to cut inventories, raise standards for dealers 12:01 am U.S. ET | Sept.

This is the third straight Presidents Cup where the world’s top-ranked player has recorded the clinching point for the United States. This is fifth straight time the United States has won the junior event, and it has lost only once in the history of the Presidents Cup. Tiger clinches the winning Presidents Cup point for a third straight time. GC Tiger Tracker (@GCTigerTracker) October 6, 2013 Of course, the European Team has nearly matched that dominance in the Ryder Cup. The United States has won that event just once in its past six tries, including an epic collapse last year that saw the Europeans come from a 10-6 deficit on Sunday to pull out a win before a shell-shocked crowd at Medinah. Brian Spurlock-USA TODAY Sports There would be no slacked jaws atMuirfield Village on Sunday. The United States came into Sunday’s action with the score feeling eerily similar to the 2012 Ryder Cup. The host country had a five-point lead after darkness halted the third day of action on Saturday and began the final day by extending its lead even further.Webb Simpson and BrandtSnedeker put a stake right to the heart of the Internationals by coming back to defeatLouisOosthuizenandCharlSchwartzel after trailing by three holes, right asBill Haas and Steve Stricker were recording another United States victory. Phil Mickelson andKeeganBradley only halved their match withJason Day and GrahamDeLaet, and Woods and Matt Kuchar lost for the first time all week, but the damage was critical nonetheless. The United States carried a six-match lead (14-8) at the end of foursome play. There were 12 singles matches to be finished over the course of the rest of the day. The Internationals couldn’t possibly put another scare into the United States, could they? Kevin Liles-USA TODAY Sports Well…almost. Ernie Els,Jason Day,Graham DeLaetand Adam Scott all ripped off wins in the early afternoon, keeping the International team’s comeback hopes alive.Hunter Mahan, Jason Dufner and Zach Johnson had each gotten wins, leaving the red, white and blue just one halving away from another triumph. But much like a year ago, the Internationals had pilfered momentum by mid-afternoon as the final matches of the day started revving up.