Most political analysts say that Congress and President Obama will eventually agree to extend the payroll tax cut into 2012 – even if it takes another month of arguing.
But what if Congress really can't get it done?
Economists are fairly unanimous in saying growth would be slowed — at least in the short term — if Congress were to fail to pass legislation to extend the tax holiday and include two other proposals to: 1) continue federal help for the long-term unemployed and 2) block a 27 percent Medicare pay cut for doctors.
The United States has admitted that NATO forces made mistakes that led to the deaths of two dozen Pakistani soldiers. The incident happened along the Afghan-Pakistan border in November. Pakistan had claimed the U.S. purposely attacked its troops and the incident contributed to a spiraling deterioration in relations between the two allies. Now, according to the Pentagon's investigation, the United States admits some responsibility for the deadly raid. In a moment we'll have the view from Pakistan.
The new estimate marks the second time that BEA has revised its third-quarter estimate downward. In its first look, BEA said gross domestic product grew at a 2.5 percent annual rate. Last month, it said the pace was 2 percent.
Still, the third quarter was better than the second — when GDP expanded at a 1.3 percent annual rate.
American military forces, "given what information they had available to them at the time, acted in self defense and with appropriate force after being fired upon" when they called for airstrikes along the Afghanistan-Pakistan border in late November in an incident that killed 24 Pakistani soldiers, the Pentagon said this morning.
Good morning, I'm Linda Wertheimer. For the fourth year in a row, a couple dressed in elf hats drove around Detroit handing out $100 bills to strangers - $12,000 worth. Many thought those crisp Benjamins were a joke. Some burst into tears. The anonymous couple stopped a Detroit bus and gave every passenger $100. The couple does ask recipients to pay it forward, in kindness. You're listening to MORNING EDITION. Transcript provided by NPR, Copyright NPR.