Debt Debate

People walk past the New York Stock Exchange during afternoon trading on August 4, 2011 in New York City. The Dow dropped more than 300 points on fears of a deepening European debt crisis and possible double-dip recession in the United States. (Mario Tama/Getty Images)

Treasurer: Downgrade Expected To Have Little Effect On Calif.

State Treasurer Bill Lockyer on Monday said there’s no reason the ratings downgrade of the federal government will have an immediate effect on California but cautioned the state is still on the mend.

KPIX 5 | CBS San Francisco–08/08/2011

CA high speed rail

Budget Deal Could Jeopardize Bay Area High Speed Rail

Funding for high speed rail, which remains uncertain, could be further jeopardized by the budget deal that avoided default.


Apple iPhone 4. (Spencer Platt/Getty Images)

Tech Report: Debt Debate Could Help The Smartphone Industry

The debt ceiling debate in Washington could benefit the smartphone industry.
One of the provisions in Senate Majority Leader Harry Reid’s plan would be to raise million-of-dollars for debt reduction by auctioning off some of the airwaves.