11:43am

Wed August 31, 2011
Economy

What's Left To Fix The Economy If It Gets Worse?

With the U.S. economy stuck in neutral, analysts are busy adjusting their forecasts to include the possibility of another recession. Most aren't predicting another downturn, they're just saying that the odds have increased.

Meanwhile, policymakers at the Federal Reserve are divided about what to do next. Some are arguing for more aggressive action while others think that would be a mistake, according to minutes from their last meeting released on Tuesday.

Both the Fed and Congress are running out of ideas that they haven't already tried.

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11:15am

Wed August 31, 2011
The Two-Way

Justice Dept. Sues To Block AT&T's Acquisition Of T-Mobile

The Justice Department just confirmed that it has "filed a civil antitrust lawsuit to block AT&T Inc.'s proposed acquisition of T-Mobile USA Inc."

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10:55am

Wed August 31, 2011
The Two-Way

As Much As $60 Billion Of 'Waste And Fraud' In War-Related Contracts

"At least $31 billion, and possibly as much as $60 billion, has been lost to contract waste and fraud in America's contingency operations in Iraq and Afghanistan," the independent and bipartisan Commission on Wartime Contracting in Iraq and Afghanistan reported this morning.

That's out of the $206 billion that's expected to have been spent on contracts and grants in those two countries by the end of September, the commission says.

In its report, the commission adds that:

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10:14am

Wed August 31, 2011
Economy

Demand For Autos Drives Up Factory Orders

U.S. factory orders rose strongly in July on the biggest jump in demand for autos in more than eight years and a surge in commercial airplane orders. The increase suggests supply chain disruptions created by the Japan crisis are easing.

Factory orders climbed 2.4 percent, the largest increase since March, the Commerce Department reported Wednesday. Orders for motor vehicles and parts rose 9.8 percent, the largest one-month gain since January 2003.

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10:00am

Wed August 31, 2011
The Two-Way

Mucho Congratos To 'ElBloombito'

Credit twitter.com/ElBloombito

One guy on The Two-Way's masthead speaks Spanish, and it isn't this blogger.

So I can't really poke fun at New York City Mayor Michael Bloomberg (I) for his efforts to hablar espanol during the news conferences he held before, during and after Hurricane Irene.

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9:10am

Wed August 31, 2011
The Two-Way

'9/11 Commission' Leaders: Nation's Security Isn't What It Should Be

Originally published on Wed August 31, 2011 9:13 am

Credit National Security Preparedness Group

While they believe "our country is undoubtedly safer and more secure than it was a decade ago," the co-chairman of the 9/11 Commission warn today that some of their panel's most important recommendations remain unfilled.

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8:15am

Wed August 31, 2011
The Two-Way

Layoffs Slowed In August, But Were Still Far Above Year Ago

Originally published on Wed August 31, 2011 8:44 am

Government agencies and private employers said this month that they plan to lay off 51,114 workers, the outplacement consultants Challenger, Gray & Christmas reported this morning.

And while that's down 23 percent from the 66,414 layoffs announced in July, the August total was still "up 47 percent from a year ago," the firm said.

What's more, it added:

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7:55am

Wed August 31, 2011
The Two-Way

Today's Headlines: Irene's Aftermath; Sept. 11 Panel's Report

Good morning.

States from North Carolina north to New England continue to cope with the aftereffects of Hurricane Irene, as we reported earlier. The Associated Press says 2.5 million customers still don't have power and that the death toll now stands at 44 people in 13 states. Flood waters continue to be huge problems in New Jersey and states to the north.

Meanwhile, other stories making headlines include:

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7:30am

Wed August 31, 2011
The Two-Way

Rebuilding After Irene Is Not Going To Boost The Economy

Originally published on Wed August 31, 2011 8:40 am

While Hurricane Irene may, according to The New York Times, "prove to be one of the 10 costliest catastrophes in the nation's history," the recovery efforts as work gets going to repair the estimated $7 billion to $10 billion in damages are not going to give the overall U.S. economy a much-needed lift, our Planet Money colleague Adam Davidson says.

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12:01am

Wed August 31, 2011
Shots - Health Blog

Cell Phones Could Help Doctors Stay Ahead Of An Epidemic

Credit NICHOLAS KAMM / AFP/Getty Images

The year 2010 was a very bad one for Haiti. It started with an earthquake that killed over 300,000 people, mostly in the crowded capital of Port-au-Prince. After that, cholera originating in a U.N. camp broke out in a northern province and eventually spread to the city.

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