Congress adjourns after passing anti terror package
Congress ended a tumultuous year by approving a $318 billion defense package and a $123 billion social services measure, plus a $15.4 billion foreign aid bill, while leaving economic stimulus and energy bills for next year amid partisan clashes over terrorism funding and policy. House and Senate leaders traded blame as they wrapped up sessions for 2001.
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Bush administration pledges no farm spending cuts
The Bush administration promised not to cut farm spending when Congress returns to overhaul agriculture and nutrition programs. Ann Veneman said funds remain as agreed, with $170 billion planned over a decade, including $73.5 billion from a projected surplus. Democrats fear earmarked money could be at risk amid deficits.
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AT&T and Comcast seek merger amid consumer doubts
New York AP reports AT&T and Comcast propose a 45 billion stock merger creating AT&T Comcast Corp with about 22.3 million subscribers. Critics warn prices may not fall as control concentrates, while proponents say broader service choices and competition in local phone markets may arise. Regulators face a delayed completion projected for year end.
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Jeff Chester
Center For Digital Democracy
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C. Michael Armstrong
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Gartner Inc
At&t Comcast
Unemployment rate hits six year high on weak Q3
U S economy shows a 1.3 percent annualized contraction in the July September quarter, the largest drop since early 1990s. Unemployment rose to a six year high while consumer spending weakened in November after October surge. Incomes fell for the third straight month as durable goods and non durable purchases declined.
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Commerce Department Today
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