- Debt negotiations between the White House and House Republicans are reportedly on the verge of collapse after Eric Cantor walked out today. In a statement after quitting the talks, however, Cantor claimed to be optimistic.
- The United States announced today it will release 30 million barrels of light sweet crude from the Strategic Petroleum Reserve along with 30 million barrels to be released by foreign strategic reserves. The release of 60 million barrels--a comparative pittance--drove the inflated price of crude to its lowest level in at least four months. Republicans are accusing the President of releasing oil for political gain -- notably, the President did not release the oil amid the fanfare one would expect if it were being done solely for political gain. U.S. News speculates that the oil release will provide a temporary boost to the economy--let us hope so.