The Two-Way
10:43 am
Tue August 2, 2011

Senate Approves Bipartisan Debt Ceiling Plan

A screengrab of CSpan's coverage of the Senate vote.
CSpan

Update at 2:07 p.m. ET. President Signs Bill:

President Obama has signed into law a bi-partisan bill that raises the debt ceiling and avoids a government default that analysts as well as the White House warned could have had catastrophic effects on the American economy.

Earlier today, the Senate voted 74-26 to send the bill to the president's desk. The AP reports Obama signed the bill privately in the Oval Office.

Our Original Post:

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The Two-Way
10:41 am
Tue August 2, 2011

U.S. May Alter Rules To Let More Aid Into Somalia

Somali refugees wait at dawn at a registration center at the Dadaab refugee complex in Kenya Tuesday, to receive aid after having been displaced from their homes in southern Somalia by famine.
Tony Karumba AFP/Getty Images

Efforts to help people in southern Somalia, where famine relief efforts have been stymied by al-Shabaab, a group on the U.S. terrorism watchlist, may get easier in the coming weeks. That's because pending changes to U.S. rules will allow aid groups to deliver food in those areas, according to an AP report.

Citing sources who wished to remain anonymous, the AP says:

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The Picture Show
10:36 am
Tue August 2, 2011

Where Does Money Go When It Dies?

Photographs show money that has been removed from circulation.
Will Steacy Courtesy of Michael Mazzeo Gallery

Originally published on Wed May 23, 2012 9:36 am

We've all desperately tried to force a crumpled dollar bill into a vending machine to no avail. Fortunately, when your dollar is that decrepit, it's on death's door and will likely be removed from circulation.

The average lifespan of a $1 bill, according to the Federal Reserve Bank of New York, is 21 months. Eventually, money is destroyed — either by the Federal Reserve itself, or by the places that create it to begin with: the Bureau of Engraving and Printing, and the U.S. Mint. On average, 5 million unfit currency notes are destroyed each day.

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The Two-Way
10:03 am
Tue August 2, 2011

U.S. Consumers Cut Spending; First Decline In Nearly Two Years

Americans put more of their money into savings in June, at the expense of consumer spending — and that came as a surprise to analysts. The month's drop in spending was the first in nearly two years (20 months).

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Economy
10:00 am
Tue August 2, 2011

After Debt Fight, States Crave Stability

The House voted to pass the compromise spending plan Monday night, but drops in federal and state credit ratings remain possible, particularly for South Carolina. To learn about the bill's local ramifications, host Michel Martin speaks with S.C.'s House Rep. for the sixth district, S.C.'s Treasurer, and the mayor Columbia, S.C.

Health Care
10:00 am
Tue August 2, 2011

Sebelius Defends Birth Control Without Co-Pays

The federal government recently announced that starting Aug. 2012, insurers must offer female preventive health services without extra costs to patients. Host Michel Martin discusses the controversial plan with the Health and Human Services Secretary. Martin also explores what the debt deal means for the Affordable Care Act with a Senior Correspondent from Kaiser Health News.

13.7: Cosmos And Culture
9:57 am
Tue August 2, 2011

The Physics Of Real Debt Ceilings: When Nature Says No

Pity the politicians as they struggle to a hammer out a deal on the US debt: the endless negotiations, the late agreements that collapse by the morning news cycle. Everywhere they turn they seem to constrained - hemmed in – by forces pulling in every direction.

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The Two-Way
9:40 am
Tue August 2, 2011

Study Suggests Internet Explorer Users Are, Um, Kind Of Slow

A graph comparing IQs by browser.
AptiQuant

The browser wars are getting personal. A new study gave IQ tests to more than 100,000 English-speaking Internet users from the U.S., Canada, U.K., Australia, and New Zealand. Those results were then compared to what browser each person was using to take the test.

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The Two-Way
8:42 am
Tue August 2, 2011

Democratic Party Prepping For Giffords Re-Election Bid

In an interview with CBS' The Early Show, the head of the Democratic party said they expect Rep. Gabrielle Giffords (D-AZ) to "come back to help us full time."

Rep. Debbie Wasserman Schultz (D-FL) said the Democratic National Committee was prepping for a re-election bid in case Giffords decides to run.

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Politics
8:36 am
Tue August 2, 2011

One Final Hurdle: Debt-Ceiling Bill Faces Senate Vote

Senate Majority Leader Harry Reid speaks to the media after a meeting of Democratic senators Monday at the U.S. Capitol.
Nicholas Kamm AFP/Getty Images

It seems to be all over but the voting.

Hours before the deadline to avert a U.S. default, the Senate was expected to pass legislation Tuesday in time to send it to President Obama and end the self-inflicted debt-ceiling crisis that has shaken confidence in the nation's credit and its political leaders.

The compromise bill, which easily passed the House on Monday night, is virtually assured to clear the Senate by a bipartisan tally. The president has promised to sign it into law almost immediately.

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