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Odessa American in Odessa, Texas

08 Aug 2012

Page 7

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Newspaper

Odessa American

Location

Odessa, Texas, United States of America

Date

Aug 08, 2012

Page

7

Budget sequester threat bets political brinkmanship

Washington lawmakers warn of sweeping automatic cuts totaling 1.2 trillion over a decade with 110 billion in first year reductions across defense and domestic programs. Obama aides, Panetta, and GOP leaders debate how to avert a December deadline amid election-year pressure and potential tax changes.

MENTIONED IN THIS ARTICLE

Washington Leon Panetta White House FBI Congress Office of Management and Budget Jeff Zients Mitt Romney Senate Pentagon Vice Barack Obama Matic House House Armed Services Committee Rep Howard Buck” McKeon Rcalif Appropriations Committee Hal Rogers R-Ky Mitch McConnell Sen John McCain Arizona Armed Services Committee Obama McKeon McCain Lindsey Graham South Carolina Kelly Ayotte New Hampshire Florida Virginia North Carolina Graham John Boehner Ohio
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Americans cut back on credit card use in June

U S consumers reduced credit card borrowing in June as high unemployment and slow growth curbed spending. Total consumer borrowing rose 6.5 billion to 2.58 trillion, with auto and student loans up 10.2 billion to 1.71 trillion while credit card debt fell 3.7 billion to 865 billion.

MENTIONED IN THIS ARTICLE

Washington Federal Reserve Federal Reserve Bank of New York
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S&P topples 1,400 as rally lifts Nasdaq above 3,000

In New York, the S&P 500 closed above 1,400 for the first time in three months, rising 7.12 to 1,401.35 as energy stocks led gains and expectations of central bank support grew. The Nasdaq also finished above 3,000 for the first time since early May, up 25.95 to 3,015.86.

MENTIONED IN THIS ARTICLE

New York Standard & Poor S&p
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