If the debt reduction supercommittee deadlocks, or if Congress rejects its work, by law automatic across-the-board budget cuts — half of them from defense spending — will be triggered. Already, talk is growing of undoing that trigger.
Texas governor Rick Perry spent the last two days in New Hampshire, his first visit since the Republican debate in which he defended a Texas law that allows illegal immigrants to pay in-state tuition at state colleges. As Jon Greenberg reports, Perry faced headwinds among Republican primary voters.
This past week, Bank of America announced plans to charge most of its debit card users $5 a month if they use the card to make purchases. The decision is meant to offset anticipated revenue losses from regulatory changes that took effect on Friday. Democratic Sen. Dick Durbin of Illinois introduced those changes to last year's Dodd-Frank financial reform legislation. Durbin joins host Audie Cornish to explain why he thinks the legislation is important.
The Supreme Court returns to the bench this week after its summer recess. The new term begins tomorrow with some 50 cases on the docket, and several of them deal with hot-button political issues. Host Audie Cornish talks with NPR legal affairs correspondent Nina Totenberg about the upcoming Supreme Court term.
Each Sept. 30, the nation wraps up its old budget, and on Oct. 1, it starts a fresh spending cycle. But once again, the country has no formal budget in place. Uncertainty over the budget not only stresses federal workers but it also hurts the already weak economy, analysts say.
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