Economy & Business

The Two-Way
9:29 am
Thu October 17, 2013

Economists: Shutdown Will Shave Half-Percent From Quarterly GDP

Originally published on Thu October 17, 2013 2:06 pm

The government shutdown has taken a toll on the nation's economy and despite a deal that sidesteps a debt default and restarts the government (at least for a few months), growth forecasts for the last quarter of the year are being scaled back.

Economist Mark Zandi of Moody's Analytics has shaved his gross domestic product forecast from a 2.6 percent annualized rate to 2.1 percent for the last three months of the calendar year.

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Business
3:38 am
Thu October 17, 2013

U.S. Economy Takes A Hit After Partial Government Shutdown

Originally published on Thu October 17, 2013 9:23 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with a hit to the U.S. economy.

(SOUNDBITE OF MUSIC)

MONTAGNE: Standard and Poor's estimates that the 16-day-long government shutdown cost the U.S. economy roughly $24 billion. Because of that, the credit rating agency says it is lowering its estimate for U.S. economic growth in the fourth quarter to just over 2 percent. That's down .6 percentage points from its estimate before the shutdown. Transcript provided by NPR, Copyright NPR.

Business
3:38 am
Thu October 17, 2013

British Police Auction Off Some Confiscated Luxury Assets

Originally published on Thu October 17, 2013 9:23 am

Transcript

RENEE MONTAGNE, HOST:

And our last word in business today is: diamonds on your timepiece.

Police in Great Britain are selling the luxury assets of Vincent Graham. He operated a drug ring in England before police arrested him a couple of years ago. Upon his arrest, police also seized some of Graham's personal belongings: jet skis, motorcycles, a Lamborghini and other luxury cars, items that Graham will no longer needs now that he's in prison.

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Politics
3:38 am
Thu October 17, 2013

Defeat Isn't Easy For Conservative Republicans To Admit

Originally published on Thu October 17, 2013 9:23 am

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION from NPR News. I'm Steve Inskeep.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

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Politics
3:38 am
Thu October 17, 2013

Obama Sticks With 'No Ransom' Strategy, Comes Out Ahead

Originally published on Thu October 17, 2013 9:23 am

Transcript

STEVE INSKEEP, HOST:

Throughout the battle over the government shutdown and debt limit, President Obama repeated his view many times: So long as Republicans were threatening default, he would not negotiate.

PRESIDENT BARACK OBAMA: You don't negotiate by putting a gun to the other person's head.

INSKEEP: That strategy paid off for the Whitehouse, but it's not a strategy the president comes by naturally - as NPR's Scott Horsley reports.

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