Intel expects super-cheap Haswell tablets, laptops by the holidays

Intel is about to make its big push into the world of tablet processors. Per ZDNet, Intel expects that we’ll start seeing very cheap new devices powered by its Haswell processors release in time for the holidays this year. How cheap are we talking about? Intel CEO Brian Krzanich said during a conference call this week that he expects Haswell processors will be used in $99 tablets, $299 notebooks and $349 tablet-notebook hybrids. Intel earlier this fall started shipping its Haswell tablet processors that the company says will deliver up to 50% better battery life depending on usage. The new processors are particularly important for tablets running Windows 8 since they need to have strong batteries to run a full PC operating system on a light and thin form factor. 

More from BGR: iOS 7 takes a beating in extensive user experience review

This article was originally published on BGR.com

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The Big Problems Behind the Delay in a New 'Bridget Jones' Movie

Universal Pictures

Renee Zellweger in "Bridget Jones: The Edge of Reason"

This story first appeared in the Oct. 25 issue of The Hollywood Reporter magazine.

Bridget Jones isn't getting any younger. But there seems to be no sense of urgency to marry her off to a Hollywood suitor.

Film rights remain available to Helen Fielding's latest adventure, Bridget Jones: Mad About the Boy, the third literary outing for the self-deprecating heroine who counts calories and units of booze consumed with the fervor of a Nobel-winning chemist.

PHOTOS: 11 Biggest Book-to-Big Screen Adaptations of the Last 25 Years 

Despite mammoth first-day sales Oct. 10 in the U.K. for the new book (46,000 copies) and two hit Bridget Jones films totaling $545 million at the worldwide box office, neither Universal Pictures nor London-based production outfit Working Title has struck a deal for the tome. It finds Bridget, now 51, a widowed mother of two after the death via land mine of Mark Darcy, played in the films by Colin Firth. Working Title produced 2001's Bridget Jones's Diary, which helped establish star Renee Zellweger at the top of the Hollywood food chain, as well as 2004's Bridget Jones: The Edge of Reason. Universal released the latter, which did nearly as much business worldwide as the first film.

"The book's imminent publication in many territories has taken up all of Helen Fielding's time, and no consideration has yet been given to the film rights of Bridget Jones: Mad About the Boy," Fielding's London-based agent Imogen Pelham tells THR of the novel that went on sale in the U.S. on Oct. 15.

STORY: Darcy's Death Spikes New 'Bridget Jones' Novel Sales 

In the nine years since Edge of Reason, Zellweger's star has faded. The last film she appeared in was 2010's My Own Love Song, which was not released in the U.S. Further complicating matters, Working Title and Universal are developing Bridget Jones's Baby, based on a Fielding original screenplay. That film, which would reunite Zellweger, 44, Firth, 53, and Hugh Grant, 53, was scheduled to shoot in 2012 with director Peter Cattaneo (The Full Monty) but abruptly was halted. At the time, Working Title's Tim Bevan told THR, "We are still working on the script, hence the delay to the start of production, but the film is going ahead as planned." Zellweger's reps say she still is attached to Baby, though Firth told the Chicago Sun-Times in April, "You might be seeing Bridget Jones' granddaughter's story being told by the time we get there."

Working Title could choose to ditch Baby and pursue a Boy movie with Zellweger or another actress -- if it secures rights. A source says Working Title "has an unwritten rule that they would get any Bridget Jones films. The Brits are different. They work as family, and Bridget is part of the family."

E-mail: Tatiana.Siegel@THR.com
Twitter: @TatianaSiegel27

 

Source: http://feedproxy.google.com/~r/thr/news/~3/BPPTaj25aIA/bridget-jones-big-problems-behind-648542
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iPad 5, iPhone 5S to drive Apple's holiday season -- report

The iPhone 5S is outselling the iPhone 5C at a ratio of 2.5-to-1, according to one analyst, and that pace should continue through the rest of the year.

Apple's iPhone 5S is significantly outpacing the iPhone 5C in sales, and at least one analyst believes that trend will continue into the holiday season.

The iPhone 5S is outselling the iPhone 5C at a ratio of 2.5-to-1, Canaccord Genuity analyst Michael Walkley wrote in a note to investors on Wednesday. That news is obviously good for Apple, which generates more revenue on the iPhone 5S than iPhone 5C, but it also cements Walkley's belief that Apple will sell 52.5 million iPhones during the last quarter of the year.

The first quarter of 2014 should also be bolstered by China Mobile, Walkley said. The crown jewel in Apple's wireless plans should finally start shipping the iPhone early next year to its more than 750 million subscribers, which could add over 10 million iPhone unit sales to Apple's financials, Walkley said.

The iPad 5 could also be a winner for Apple through the rest of the year. Walkley believes Apple will announce a major iPad 5 redesign at its special event on October 22 that will spur increased sales. Walkley is also unsure when the iPad Mini with Retina display might hit store shelves, further complicating sales forecasts on that device. Therefore, in the short-term, Apple could expect the iPad 5 to drive its tablet sales.

"We are modeling iPad 5 and iPad Mini units at 12.9M/11.5M for the December quarter," Walkley wrote to investors. "We anticipate this sales mix will reverse to 8.4M/14.4M in the March quarter driven by the delayed launch of a refreshed iPad Mini with Retina display and increased iPad Mini demand from international markets, particularly in China around Chinese New Year."

One other tidbit from the Walkley report: he expects Apple to launch its long-awaited smartwatch and television at some point in its 2015 fiscal year, which starts in October of 2014.

Walkley has reiterated his "buy" recommendation on Apple shares and has upped his 12-month price target to $580.

Source: http://news.cnet.com/8301-13579_3-57607727-37/ipad-5-iphone-5s-to-drive-apples-holiday-season-report/?part=rss&tag=feed&subj=News-Apple
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He's a 'badass': Wounded soldier flashes 'salute seen around the world'

Taylor Hargis, the wife of the wounded Army Ranger photographed in his hospital bed struggling to salute as he's awarded the Purple Heart, speaks about her husband calling him a "bad ass" and "the epitome of what a man and an American and a soldier is." WBBH's Clifton French reports.

By Jeff Black, Staff Writer, NBC News

A salute by an Army Ranger — hospitalized with serious wounds after a suicide bomb attack in Afghanistan — is warming hearts after being posted online, moving his wife to declare him a "badass" and "the epitome of what a man and an American and a soldier is."

Cpl. Josh Hargis’ commander was at a military hospital in Afghanistan right after doctors stabilized his injuries awarding the seemingly unconscious soldier a Purple Heart, pinning the medal to the blanket covering him.

And that's when Hargis surprisingly raised his bandaged arm to salute — struggling with his doctors and medical tubes to do so.

The commander sent a picture along with a letter about the incident to Hargis’ wife, Taylor, writing that "grown men began to weep" at the sight of the salute.

The commander added that it was “the single greatest event I have witnessed in my ten years in the Army.”

Hargis was wounded by shrapnel on Oct. 6 when an Afghan woman detonated a suicide bomb vest, killing four members of his 3rd Army Ranger Battalion and wounding 12 other American soldiers, according to a report on the website of the soldier's hometown newspaper in Ohio, the Cincinnati Enquirer.

The four fallen soldiers became inextricably linked with the government shutdown in the past two weeks, as their families expressed grief and outrage over the fact that the government was withholding a $100,000 "death gratuity" normally paid out to relatives to help them out financially until survivor benefits kick in.

Hargis had a breathing tube inserted and his right arm was wrapped up, according to the Enquirer. He had just come out of surgery when he was presented with the Purple Heart, his wife told the paper.

Taylor Hargis posted the picture along with the note on Facebook Oct. 12, where it has been shared more than 5,500 times. The story and picture were also distributed on the Guardian of Valor website, which called the picture the "the salute seen around the world."

"When I look at that picture, I just think of how proud I am," Taylor Hargis told NBC affiliate WBBH in Florida, near her hometown of Fort Myers. 

"He is badass and he is strong, and he is the epitome of what a man and an American and a soldier is."

The letter from the commander, according to Taylor Hargis' Facebook post, read in part:

"Josh, whom everybody in the room (over 50 people) assumed to be unconscious, began to move his right arm under the blanket in a diligent effort to salute the Commander as is customary during these ceremonies. Despite his wounds, wrappings, tubes, and pain, Josh fought the doctor who was trying to restrain his right arm and rendered the most beautiful salute any person in that room had ever seen. I cannot impart on you the level of emotion that poured through the intensive care unit that day.

It was assumed that Army Ranger Josh Hargis was unconscious during his Purple Heart ceremony in the hospital, but then he raised his arm in salute. NBC's Brian Williams reports.

"Grown men began to weep and we were speechless at a gesture that speak volumes about Josh's courage and character. The picture, which we believe belongs on every news channel and every newspaper, is attached. I have it hanging above my desk now and will remember it as the single greatest event I have witnessed in my ten years in the Army."

Hargis, 24, is a 2007 graduate of of Dater High School on the city’s west side and attended the University of Cincinnati, NBC affiliate WLWT in Cincinnati reported. He has since been moved from Afghanistan to Germany and onto San Antonio, Texas, the station said.

A reporter for another local station, WCPO, spoke to Hargis’ mother Laura Heitman, who said that Taylor and Josh Hargis are expecting their first child. Heitman also said she had recently talked to her son.

Her son, she said, “sounded amazing when I talked to him. He was in good spirits.”

Taylor Hargis said she expects a long recovery for her husband, but vowed to be by his side for it.

"Who knows what's next? These are definitely different plans than we had imagined, but we're happy we still get to have one."

Terri Wessel, who said she had taught Hargis in high school, told WCPO that the picture brought tears to her eyes.

“Seeing the picture of him saluting was the first I knew of him being injured,” Wessel told the station.”I teared up when I saw the picture but smiled at the same time as that picture summed up the type of man that Josh is. True American hero in my mind.”

NBC's Elizabeth Chuck contributed to this report.

This story was originally published on Tue Oct 15, 2013 11:25 PM EDT

Source: http://feeds.nbcnews.com/c/35002/f/663306/s/3289aa4a/sc/11/l/0Lusnews0Bnbcnews0N0C0Inews0C20A130C10A0C150C20A980A6470Ehes0Ea0Ebadass0Ewounded0Esoldier0Eflashes0Esalute0Eseen0Earound0Ethe0Eworld0Dlite/story01.htm
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Twitter Doubles Its Q3 Revenue, But Its Aggregate 2013 Loss Has Widened To $133.8M

According to its newly refiled S-1 document, Twitter has lost $133.8 million to date in 2013. That compares negatively with its equivalent loss of $70.7 million in 2012. Both loss figures include the results of the first 9 months of the calendar year.

Twitter’s initial S-1 covered only the first two quarters of 2013. That report indicated that Twitter had lost $69.2 million in the first half of the year. The figures therefore indicate that Twitter lost $64.6 million in the third quarter alone. Or it lost almost as much in the third quarter of 2013 as it did in the first three quarters of 2012.

What did Twitter spend the money on? According to its balance sheet, a large chunk went to research and development costs. Twitter’s accumulated R&D tab in 2013 rose from $111.8 million for quarters one and two, to $199.1 million through the third quarter – Twitter spent $87.3 million in the third quarter on research and development. Just under $30 million of that third quarter R&D tally comes from stock-based compensation, it’s worth noting.

Twitter’s accelerating losses could throw a shade over its public offering, if investors are concerned about its path to profitability. While its nine-month 2013 loss is essentially double its equivalent 2012 loss, it has work ahead of it to prove its long-term viability.

The other side to all this is that Twitter’s revenues are rapidly expanding. The company posted third-quarter revenue of $168.6 million, which compares favorably to its collected $253.6 million in the first half 2013 revenue.

Twitter has opted to file its IPO on the NYSE, moving away from the tech-traditional NASDAQ exchange. It will raise up to $1 billion in its flotation. Oh, and Twitter’s growth is slowing rapidly.

Top Image Credit: Emmanuel Huybrechts

Created in 2006, Twitter is a global real-time communications platform with 400 million monthly visitors to twitter.com, more than 200 million monthly active users around the world. We see a billion tweets every 2.5 days on every conceivable topic. World leaders, major athletes, star performers, news organizations and entertainment outlets are among the millions of active Twitter accounts through which users can truly get the pulse of the planet.

→ Learn more

Source: http://feedproxy.google.com/~r/Techcrunch/~3/SckuRy04OWU/
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2013 Japanese GP Predictions Championship results | F1 Fanatic Predictions Championship

Colin Walters (@Colinwalt74^[1]) produced the best prediction of the Japanese Grand Prix – and would have got a perfect score had Sebastian Vettel^[2] not missed out on pole position.

With over 83% of players tipping Vettel for pole position a lot of players lost out due to his KERS problem – meanwhile the 30 who’d backed Mark Webber^[3] picked up an extra two points.

They included @Mickrock^[4] who took the second-highest score of the weekend.

However with 28 players tied for the next highest score the pole position time tie-breaker had to be used to decide the winner of the third place prize. It goes to @Gurpz^[5].

Another of the players to tie for third place was @Adaptalis^[6] who has taken over at the head of the points from long-standing leader @Sebsronnie^[7].

Here’s the details of what the top three players won in the Japanese Grand Prix round:

Position	Player	Prize
First	Colin Walters (@Colinwalt74[8])	A Pirelli podium cap plus copies of Codemasters’ F1 2013: Classic Edition and F1 Race Stars
Second	@Mickrock[9]	A Grand Prix Heroes DVD and a Pirelli tyres wristband
Third	@Gurpz[10]	A Pirelli tyres wristband

Remember you can enter your predictions for all the remaining races below^[11]. See the updated points standings in full here:

Here are the predictions from the top-scoring players in this round:

F1 Fanatic Predictions Championship 2013 - Japan

Player	Pole Time	Pole	1.	2.	3.	4.	5.	Points
colinwalt74	01:31.473	VET	VET	WEB	GRO	ALO	RAI	48
Mickrock	01:31.890	WEB	VET	WEB	HAM	ALO	RAI	31
Tom_EC1	01:32.000	VET	VET	WEB	HAM	ALO	RAI	29
Hamilton Fan	01:21.222	VET	VET	WEB	HAM	ALO	RAI	29
bertie	01:31.918	VET	VET	WEB	HAM	ALO	RAI	29
graf	01:30.997	VET	VET	WEB	HUL	ALO	RAI	29
mateuss	01:32.111	VET	VET	WEB	HAM	ALO	RAI	29
Ads21	01:30.739	VET	VET	WEB	GRO	HAM	RAI	29
nwsmithex	01:32.174	VET	VET	WEB	GRO	HAM	RAI	29
adaptalis	01:31.809	VET	VET	WEB	HAM	ALO	RAI	29
codesurge	01:32.285	VET	VET	WEB	HAM	ALO	RAI	29
sweetpea	01:22.123	VET	VET	WEB	HAM	ALO	RAI	29
tony031r	01:32.268	VET	VET	WEB	ROS	ALO	RAI	29
sacco	01:32.578	VET	VET	WEB	HAM	ALO	RAI	29
DarkFerrari	01:31.823	VET	VET	WEB	HAM	ALO	RAI	29
Gurpz	01:30.962	VET	VET	WEB	HAM	ALO	RAI	29
bigwilk	01:30.834	VET	VET	HAM	GRO	ALO	RAI	29
Fer no.65	01:31.420	VET	VET	WEB	GRO	ROS	RAI	29
maheshvi	01:31.200	VET	VET	WEB	GRO	ALO	HAM	29
sushant008	01:31.088	VET	VET	WEB	HAM	ALO	RAI	29
mrpranz	01:31.203	VET	VET	WEB	GRO	HAM	RAI	29
jleigh	01:30.435	VET	VET	WEB	GRO	HAM	RAI	29
ginnerchris	01:31.213	VET	VET	WEB	HAM	ALO	RAI	29
Jouhakainen	01:32.055	VET	HAM	WEB	GRO	ALO	RAI	29
trublu	01:31.200	VET	VET	HAM	GRO	ALO	RAI	29
McBride	01:31.233	VET	VET	WEB	GRO	HAM	RAI	29
billbranch	01:31.625	VET	VET	WEB	HAM	ALO	RAI	29
DryYoshi	01:31.732	VET	VET	WEB	GRO	ROS	RAI	29
vlad	01:31.333	VET	VET	WEB	HAM	ALO	RAI	29
t1cee	01:30.775	VET	VET	WEB	HAM	ALO	RAI	29

Most popular predictions: Grand Prix

More Predictions Championship statistics from this race here:

2013 F1 Fanatic Predictions Championship prize details

2014 British Grand Prix tickets and Back Stage passes

F1 Fanatic has teamed up with Silverstone to offer one lucky winner the opportunity to revel in all the drama, glamour and exhilarating ‘live’ F1 experience with a pair of grandstand tickets for all three days of the 2014 British Grand Prix.

In addition, the winner will get behind the scenes at the post-race Grand Prix Party with a pair of backstage passes, providing the opportunity to get as close to the drivers as most fans ever will.

Supporting the thrilling on-track action will be a host of entertainment, including air displays, Entertainment Zones, free concerts and the post-race Grand Prix Party, guaranteeing an unforgettable three days at the Home of British Motor Racing.

£200 to spent at mementoexclusives.com

You could win £200 to spend on your choice of products from the incredible range of F1 memorabilia^[12] and F1 merchandise^[13] at mementoexclusives.com.

From race-used car parts to Formula One artwork, innovative F1 designer, furnishings and official F1 team merchandise, you will have no trouble finding items to spend your £200 on!

Car-a-Day painting by Rob Ijbema

The third place finisher will win one of Rob Ijbema’s vivid and colourful Formula One paintings.

The lucky winner will be able to choose which Formula One driver, present or past, will feature in their painting.

Alternatively they can pick one of the other motor racing paintings on Rob’s site which includes a huge selection of F1 imagery plus sports cars, rally cars and more:

GP International magazine subscriptions

We have ten 12-month subscription to GP International to be won as part of this year’s Predictions Championship.

Published every month, GP International features stunning photography and features by some of the sport’s best writers.

GP International aims to provide passionate F1 fans with information, entertainment and behind-the-scenes access.

F1 2013: Classic Edition and F1 Race Stars

The player with the highest score in each round will win this brilliant double prize from Codemasters.

The team behind the official Formula One game will provide the winner of each race with the brand new official Formula One game F1 2013: Classic Edition for the format of your choice.

The fourth instalment of Codemasters’ official Formula One game series features all the official cars and tracks from the 2013 F1 season^[14].

But it packs in much more than that. For the first time Codemasters have added classic cars and tracks to their game. Five Ferraris are among the retro F1 cars on offer, including the 1976 312 T2 raced by Niki Lauda^[15] and featured in the new film Rush^[16].

There are seven more classic cars on offer plus four former F1 grand prix tracks to race them on: Brands Hatch, Imola, Jerez and Estoril.

F1 2013 comes in two editions, but only the Classic Edition includes all the retro cars and tracks.

The top predictors will also win Codemasters’ F1 Race Stars, a fun-packed karting game which takes players on a world tour of iconic Formula One locations recreated as fantastical racing circuits, and delivers four-player split-screen racing.

F1 2013 and F1 Race Stars are available for Sony PlayStation 3, Microsoft Xbox 360 and Windows PC.

Pirelli podium hats and wristbands

There will be no mistaking who’s won each round of the Predictions Championship as they will be wearing the same cap as the winner of the race.

Pirelli, the official tyre supplier of Formula One, will give the winner of each race a replica podium cap.

Pirelli will also provide the second and third-placed prize winners for each race with a set of their rubber wristbands^[17].

This official Pirelli product identifies each of the six varieties of tyre used in Formula One: Super Soft, Soft, Medium, Hard, Intermediate and Rain.

Grand Prix Heroes DVDs

The second-placed player in each race will win their choice of one of Duke Video’s Grand Prix Heroes DVDs.

Videos are available on such famous F1 figures as Niki Lauda, James Hunt, Mika Hakkinen, Jackie Stewart, Mario Andretti, Emerson Fittipaldi, Jody Scheckter, Ronnie Peterson, Peter Revson and Frank Williams.

Make your predictions

Rules and how to enter

You have until the start of qualifying on Saturday to make your predictions for each round.

A reminder will be posted on the site after second practice on Friday as well as on the F1 Fanatic Twitter account^[18] and F1 Fanatic Facebook page^[19].

To enter, predict the pole sitter and the top five finishers in the race. You can also enter a prediction for the pole position lap time – this may be used as a tie-breaker.

Enter your pole position lap time prediction as follows: MM:SS.ccc

For example, for a lap of one minute, 27.720 seconds you would enter 01:27.720

You need to log in using an F1 Fanatic account to make your prediction.

If you haven’t got one yet, the sign-up process is quick, simple and entirely free: Get your F1 Fanatic account here^[20] and read more about registering here^[21].

After submitting your prediction you will receive an email confirming your entry. If this does not happen, or you are concerned your prediction has not been received, please get in touch using the contact form^[22].

Competition terms and conditions

1. Maximum one entry per household.
2. The competition is not open to employees, friends or family of F1 Fanatic, Silverstone Circuit, Memento Exclusives, Car-a-Day, GP International, Codemasters, Pirelli or Duke Video.
3. Predictions will be promoted on the front page of F1 Fanatic before closing prior to the start of qualifying.
4. In each round players are invited to predict (a) who will be on pole position and (b) what the top five finishers will be (five different drivers) and will score points in each round as follows:
a. Correctly naming the pole sitter: 2 points
b. Correctly naming one/two/three/four/five driver/s who finish in the top five: 1/2/3/5/8 points
c. Correctly predicting where one/two/three/four/five driver/s finish: 2/6/14/24/40 points
5. Whoever scores the most points in every race counting towards the Formula One World Championship wins the grand prize.
6. In the event of a tie on points the winner will be determined by who is closest to predicting the pole position time correctly. If that fails to produce a winner the editor will choose a means of deciding who has won.
7. Predictions must be entered using the form above. If you have trouble submitting your entry via the form please contact F1 Fanatic via email and send your prediction using the contact form^[23].
8. In the event of a dispute the editor’s decision is final and no correspondence will be entered into.
9. No cash alternative is offered for any of the prizes.
10. Grand Prix tickets: Children must be accompanied by an adult. Accommodation and transport to the venue not included.
11. Players who have won prizes will be notified by email within seven days of each Grand Prix. Grand Prix tickets will be despatched once they are available.

Don’t miss a round of the Predictions Championship

Make sure you get your entry in every week.

Remember you can enter your predictions in advance and edit them up to the deadline.

To make sure you don’t miss an opportunity to enter, follow F1 Fanatic one of these ways:

2013 Singapore Grand Prix

Browse all 2013 Singapore Grand Prix articles^[24]

Image © Lotus/LAT

Share this with your friends:

References

1. ^{^} @Colinwalt74 (www.f1fanatic.co.uk)
2. ^{^} Sebastian Vettel (www.f1fanatic.co.uk)
3. ^{^} Mark Webber (www.f1fanatic.co.uk)
4. ^{^} @Mickrock (www.f1fanatic.co.uk)
5. ^{^} @Gurpz (www.f1fanatic.co.uk)
6. ^{^} @Adaptalis (www.f1fanatic.co.uk)
7. ^{^} @Sebsronnie (www.f1fanatic.co.uk)
8. ^{^} @Colinwalt74 (www.f1fanatic.co.uk)
9. ^{^} @Mickrock (www.f1fanatic.co.uk)
10. ^{^} @Gurpz (www.f1fanatic.co.uk)
11. ^{^} enter your predictions for all the remaining races below (www.f1fanatic.co.uk)
12. ^{^} F1 memorabilia (www.mementoexclusives.com)
13. ^{^} F1 merchandise (www.mementoexclusives.com)
14. ^{^} 2013 F1 season (www.f1fanatic.co.uk)
15. ^{^} Niki Lauda (www.f1fanatic.co.uk)
16. ^{^} Rush – the F1 Fanatic review (www.f1fanatic.co.uk)
17. ^{^} rubber wristbands (f1store.formula1.com)
18. ^{^} F1 Fanatic Twitter account (www.twitter.com)
19. ^{^} F1 Fanatic on Facebook (www.facebook.com)
20. ^{^} Get your F1 Fanatic account here (www.f1fanatic.co.uk)
21. ^{^} read more about registering here (www.f1fanatic.co.uk)
22. ^{^} get in touch using the contact form (www.f1fanatic.co.uk)
23. ^{^} contact form (www.f1fanatic.co.uk)
24. ^{^} Browse all 2013 Singapore Grand Prix articles (www.f1fanatic.co.uk)

Source: http://feedproxy.google.com/~r/f1fanatic/~3/nTmpiIhZMwI/
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Debt Deadline Approaches: Here's What Would ... - Yahoo Finance

The Treasury department is warning that unless Congress raises the debt ceiling by October 17^th the U.S. will run out of money. Simply put America won’t be able to pay its bills.

Under this worst case scenario Washington would be faced with decisions like whether to stop paying members of the armed forces, put Social Security checks on hold, or delay funding to local schools.

The U.S. might even be forced to renege on interest payments owed to our foreign debt holders. Defaulting on those obligations would shake financial markets to a degree not seen since the Great Depression.

Members of the Republican party claim the Democrats are overstating the risk of default. Conservatives argue that the U.S. has more than enough to pay its bills well beyond the October 17th deadline. From this perspective raising the debt ceiling just enables the government to continue to increase spending with no accountability.

This is scary stuff but don't panic just yet. Here are three reasons why:

- Even if Congresses misses the October 17^th deadline the impact won’t be immediate and the United States won’t be bankrupt no matter what you hear.

- Since 1939 the debt ceiling has been raised an average of more than once a year. In almost every case negotiations went down the last possible minute.

- The number one risk to the U.S. economy is losing the faith of foreign debt holders. Leaders on both sides of the aisle know this would be catastrophic and, while they may take their time coming up with a compromise, the likelihood of such a default is remote.

None of this has to happen. There have been a few close calls, but the U.S. has never officially defaulted on its debt. Despite the rhetoric on both sides this remains a political debate rather than a financial disaster. Emotions are running high but there's still a long way to go before this crisis becomes a global catastrophe.

Source: http://finance.yahoo.com/blogs/breakout/debt-deadline-approaches-happen-u-defaults-175536720.html
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