The two-year budget deal approved by the Senate on Wednesday is aimed at preventing another government shutdown.
It also includes a familiar annual rider â€” language to avert a steep pay cut to doctors who treat Medicare patients. But this time might be different, with a fix that lasts. After more than a decade of temporary solutions, it appears Congress might be on the verge of permanently solving its persistent problem in the way it makes Medicare payments to doctors.
"Dear Father Christmas," the letter reads, "my name is Larissa. I know that you are very busy and that you live a long way away in the North Pole, but I'd like to ask you for a gift because my mother doesn't have enough money to buy what I want."
There are piles of similar letters â€” many decorated with stickers, drawings and hand prints â€” lying on makeshift tables in the main hall of the post office in downtown Sao Paulo.
Not in North America, necessarily, but "you can't keep fur in stock in Russia," says furrier Greg Tinder. "The higher the price tag you put on it, the faster it sells."
Tinder, who left Saks Fifth Avenue to start his own label, says the East has always been a furrier's dream â€” think big, plushy Soviet-era hats. But now, with Russia's economy on the rise, there's some new money on the block, and designers know that.
By some estimates, we Americans throw away about 40 percent of our food, from the cabbage that's wilting in our refrigerators, to the fruit that's falling off the orange tree in our neighbor's backyard.
Originally published on Thu December 19, 2013 5:24 pm
The Senate passed a two-year bipartisan budget deal aimed at easing automatic spending cuts and avoiding a government shutdown, following a House vote on the measure last week.
The vote by a simple majority was absent the partisan brinksmanship that has become a hallmark of budget deals in recent memory.
The appropriations committees in both chambers must now set in stone a $1.012 trillion fiscal 2014 spending bill before current spending authority expires. Congress also faces a spring 2014 to raise the debt ceiling â€” another potential partisan standoff.
In the past five years, the Federal Reserve has created roughly $3 trillion out of thin air.
The Fed uses the money it creates out of thin air to buy bonds. The idea is to drive down interest rates, which encourages people and businesses to borrow and spend money. It's called quantitative easing.
Originally published on Wed December 18, 2013 6:42 pm
Michael Steinberg, a top portfolio manager at SAC Capital Advisors, has been found guilty of insider trading â€” the latest conviction stemming from a years-long federal investigation into the hedge fund's activities.
Steinberg was found guilty on five counts of conspiracy and securities fraud.
"Prosecutors said he traded on confidential information that was passed to him by an employee, who later admitted to swapping illegal tips with friends at other firms."
For more than a year, the Senate Intelligence Committee and the CIA have been engaged in a tug of war over the release of the so-called torture report.
Chairman Dianne Feinstein, a Democrat from California, says the $40 million, 6,000-page report demonstrates that CIA treatment of detainees was all but useless in terms of gathering actionable intelligence.
For its part, the CIA says the classified committee report contains significant errors and that no one at the agency was interviewed by Senate investigators.