WHAT GOVERNMENT SHUTDOWN? Senate Democrats said Tuesday they’re likely to accept the House GOP’s spending bill to fund the government through the rest of the fiscal year. Sen. Majority Leader Harry Reid, D-NV, said Democrats will seek an amendment to shift some funding to government agencies to soften the blow of the $85 billion in sequester cuts that will remain in effect under the GOP’s plan. Reid is expected to unveil details Thursday, according to The Hill. Read more at The Hill
WHAT EXACTLY IS A CONTINUING RESOLUTION? For the next couple of weeks, we’ll hear a lot about the continuing resolution, or CR, the name for the temporary measure that’s currently funding the federal government in place of an actual budget. The Fiscal Times’ Eric Pianin explains more about the CR here.
DOW HITS ALL-TIME HIGH The Dow Jones Industrial Average closed up more than 125 points on Tuesday, to 14, 253.80, soaring past both an intraday and closing record both set in October 2007, before the financial crisis. Read more at The Washington Post
DOWN WITH DEBT The debt held by young adults under 35 dropped to its lowest level in 15 years, says a new report by Pew Research Center. In 2010, young adults had an average of $15,000 in total debt, down from $18,000 in 2001. One reason: They’re borrowing less and waiting longer to buy homes and cars. Read more at The Wall Street Journal.
