yesterday in new orleans to 57 for the high today. 66 in atlanta yesterday. 58. from 80 to 76 in tallahassee. cooler across areas. 28 for the high in chicago. 34 in detroit. 47 degrees in new york. tonight for new year s eve forecast, 40 degrees, mostly cloudy skies. relatively light winds. allison, thank you. time for an early start on your money. last chance to trade stocks for the year. u.s. stock futures are barely moving. another huge drop in oil yesterday. oil now down more than 30% for the year. just a remarkable move in one year for a commodity. puerto rico will default on its bond payments for the second time. it owes $1 billion on january 1st. it will fall short by $37 million. happy new year. how about a raise? minimum wage workers will see more in their paychecks at some
what they determine that they want. i have long been a supporter of statehood. last month dr. ben carson also endorsed puerto rican statehood. i would be incredibly honored and delighted for puerto rico to be the 51st state. puerto rico s next looming deadline nearly $1 billion in bond payments is due january 1st. the island s governor is urging congress to agree on a plan asap, saying the only options are restructuring or disaster. in miami, phil keating, fox news. phil keating, thank you. retired generations ago in the u.s., american cars from the 40s and 50s dominate the streets of havana. after the reestablishment of diplomatic relations with cuba. american car enthusiasts and auto parts businesses are anxious to explore the island nation. although they may not expect what they re actually going to find under the hood. we sent correspondent rich he issen to havana to kick the
gigantic problem. jamie dimon said, i don t even want to tell you what it will mean if we go over. we re in the realm of horror show trailers when financial people describe what will happen where we can t make the payment. i would argue that the bond payments, even though it s a small amount of money is more sequential. you would really see the action before the stock market because the reason you hold a bond is to get interest payment. if there s an inkling of a thought you might not get it, people will start selling. we saw some of that happen last week whenfy dellty dumped a bunch of bonds. if people start selling bonds, that causes a chain reaction and money market funds, that s where their cash is, if those seize up, we don t have much of a consumer economy. as much as social security and medicare payments and that would be really damaging and freak a
for a vote of every senator. all we re saying to speaker boehner is allow the elected representatives in the house of representatives the same courtesy that we have given you. give him a chance to vote on our proposal if he will just allow a vote, we could end this before the sun sets today. there are reports widespread reports he has signaled republicans he s not going to let the debt ceiling become a crisis. he s not going to let the government default. what are you hearing? any back channel communications? i think we re all working hard. i talked to a group of republicans yesterday. i think we know the more serious issue facing our government is the notion that the united states of america, the leader of the economic world would default on its obligations. you can try to dress it up and put a bow on it and say oh, we would make interest and bond payments, last time we came close to this and lost our bond rating. that has real consequences to
recovering u.s. economy compared with what is a deepening problem in europe. okay, but it s all local, right? stocks in california, this country s biggest city, to go bankrupt. a federal judge is ruling that the city can move forward with chapter nine bankruptcy, stockton closely watched because it s halted its bond payments and cut city services. but it s still paying into the state pension plan. california law states the pennsylvania plan must be funded. but stockton creditors say that s not fair. how this all turns out could set a precedent for other cash-strapped california cities. you think you pay too much in taxes? do you? i m not going to answer this. i pay just the right amount. try going to denmark. okay. we took a look at all of the top income tax rates. 60% in denmark. that s the highest in the world. that s according to the oecd. denmark is followed by sweden, belgium and the netherlands. all the way down at 20 out of 34 countries ranked is the u.s. the u.s. came in