Debt showdown sparks Medicare reform plan by Lieberman Coburn
Senate rebels propose raising eligibility to 67 and lifting monthly premiums for current beneficiaries to save Medicare. The plan drew Democratic criticism and Republican skepticism as U.S. leaders negotiate a broader deficit deal amid threats to raise the debt limit and prevent default.
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Tom Coburn
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Consumer confidence slips to seven month low in June
The Conference Board reports consumer confidence fell to 58.5 in June from 61.7 in May amid ongoing worries about high unemployment and stagnating wages. C Britt Beemer of America's Research Group says Americans feel like they are in a recession.
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Market closes with mixed gains across key indexes
Tuesday's session shows the Dow up 145.13 to 12,188.69 while the Nasdaq adds 4.03 to 2,729.31 and the S&P 500 rises 16.57 to 1,296.67. Long bonds edge higher. Corn, Soybeans, Wheat futures firm. Oil gains as NYMEX crude trades near 92.89 per barrel.
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Senate panel approves Libya operation in bid to back Obama
The Senate Foreign Relations Committee voted 14 5 to back U S participation in the NATO led Libya campaign, limiting involvement to one year and excluding ground forces except for search and rescue. The move contrasts House rejection and could shape congressional authorization discussions.
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Prices rise in 13 U.S. cities as spring demand boosts index
The S P S Case Shiller index shows home prices up 0.7 percent in 13 of 20 major metro areas, led by Washington D C San Francisco Atlanta and Seattle. Foreclosures and delayed processing temper gains as housing remains the economy’s weakest link amid depressed sales.
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