Said theyd let the United States default on its bills. The president claims this, but republicans have always raised the debt ceiling. Weve never seen the debt limit fail to be raised. All they have said is we want to apply the same criteria that the president himself applied when he was a senator and say we dont want to give the president a blank check. We would like to fix the substantive problem which is the level and the growth in the debt. Reporter markets are almost treating the fight over the debt ceiling as the sequel to a bad movie. And investors have a pretty good feel for how this cliffhanger ends. They dont really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely that its going to happen. Reporter treasury secretary Timothy Geithner told Congress Today that unless it acts, the nation will not be able to pay its bills sometime around mid february or early march. So with a month
Said theyd let the United States default on its bills. The president claims this, but republicans have always raised the debt ceiling. Weve never seen the debt limit fail to be raised. All they have said is we want to apply the same criteria that the president himself applied when he was a senator and say we dont want to give the president a blank check. We would like to fix the substantive problem which is the level and the growth in the debt. Reporter markets are almost treating the fight over the debt ceiling as the sequel to a bad movie. And investors have a pretty good feel for how this cliffhanger ends. They dont really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely that its going to happen. Reporter treasury secretary Timothy Geithner told Congress Today that unless it acts, the nation will not be able to pay its bills sometime around mid february or early march. So with a month
Captioning sponsored by wpbt this is n. B. R. Susie good evening everyone. Im susie gharib. President Obama Tells Congress were not a deadbeat nation, and they need to raise the debt ceiling now, so we can pay our bills on time. Tom im tom hudson. A sour day for apple investors. The stock tumbles to 11 month lows on new worries about waning demand for the iphone 5. Susie but a banner day for g. M. , the cadillac ats takes car of the year at the big auto show in detroit, and its new corvette stingray wows gear heads around the globe. Tom that and more tonight on n. B. R. susie the next big fight in washington has begun. President obama today called on republican lawmakers to authorize an increase in the nations debt limit, saying that messing with it could potentially have catastrophic results for Many Americans and the overall economy. He warned markets would go haywire if congress does not act, Interest Rates would rise, and checks to Social Security beneficiaries would stop. And he s
Top analyst coming up in just a few moments. Hello, im Cheryl Casone at last hour of trading and the countdown to the closing bell begins right now. Dell is front and center in the market but also about apple. Major supplychain issues taking place at apple. The stock down nearly 3 trading at 17 down right now, still up 500. Apple cutting back on orders from component maker iphone five screens by 50 in the First Quarter alone which is usually a risk that demand is not what it was, especially in the developed markets. The iphone five was supposed to be a home run with main street and wall street, now there are some major concerns. Apples pain may be research in motions gain. At least that is the perception. Putting up substantially higher today up more than 8. 5 based on the idea apple is losing market share and perhaps rim is to gain some ground in the smartphone market, which is incredibly competitive. So what is the deal with apple . Is there an inventory problem, or an issue of iphon
The Switzerland market shrugged off a slightly weak start and climbed higher on Wednesday after soft inflation data from the U.S. raised hopes the Federal Reserve will reduce interest rate a couple of times this year.