goog

googHouse Republican Leader Eric Cantor said the House of Representatives will vote on a bill to lower deficit and raise the debt ceiling next week, dashing hopes that lawmakers would reach a deal by the weekend. Cantor's comments, made during a morning press conference, came the morning after Standard & Poor's upped the pressure on Washington by waStocks began paring earlier gains after consumer sentiment sunk to its lowest level in two years, according to the University of Michigan's preliminary reading.


The consumer sentiment index is an important measure since consumers spend more when they feel confident in the economy and strong consumer spending is crucial to a sustainable U.S. economic recovery. The consumer sentiment index fell to 63.8, from June's level of 71.5. Economists had been projecting a milder decline, to a reading of 71.4, according to Briefing.com. rning that it could cut its rating on U.S. government debt before the U.S. actually defaults on some of its financial obligations. The U.S. Treasury has estimated that the government has until Aug. 2 before it faces defa

goog