Wednesday, June 1, 2011
Horror for US Economy as Data Falls off Cliff.
The last month has been a horror show for the U.S. economy, with economic data falling off a cliff, according to Mike Riddell, a fund manager at M&G Investments in London. "It seems that almost every bit of data about the health of the US economy has disappointed expectations recently," said Riddell, in a note sent to CNBC on Wednesday.Link
GOP fears Dennis Kucinich resolution.
Seeking to avoid a showdown over Libya, House GOP leaders pulled back from a floor vote on a resolution by Rep. Dennis Kucinich (D-Ohio) that would bar U.S. involvement in the NATO-led campaign to topple Muammar Qadhafi.Link
The House refuses.
The House overwhelmingly refused to raise the nation's borrowing ability Tuesday — a largely symbolic vote designed to bolster Republican arguments that a successful measure must include deep spending cuts and sweeping policy revisions.Link
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