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Economic Research: U.S. Weekly Financial Notes: I'll See Your Law And Raise You A Bill Jan 13
Standard & Poors, January 2013
Not to be outdone by the Senate's move to push through legislation before the Jan. 1 sequester, the House of Representatives voted to suspend the nation's statutory borrowing limit until May 18. Aptly called the "No Budget, No Pay Act," it included a provision that docks the pay of lawmakers if one of the chambers of Congress fails to pass a budget blueprint by April 15. Economic releases this week include: Existing home sales in the U.S. fell 1% to an annual rate of 4.94 million units in December from a downwardly revised 4.99 million (previously 5.04 million) in November. New home sales in the U.S. fell an even larger 7.3% in December, to an annual rate of 369,000 units,...
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