We've all desperately tried to force a crumpled dollar bill into a vending machine to no avail. Fortunately, when your dollar is that decrepit, it's on death's door and will likely be removed from circulation.
The average lifespan of a $1 bill, according to the Federal Reserve Bank of New York, is 21 months. Eventually, money is destroyed — either by the Federal Reserve itself, or by the places that create it to begin with: the Bureau of Engraving and Printing, and the U.S. Mint. On average, 5 million unfit currency notes are destroyed each day.
Americans put more of their money into savings in June, at the expense of consumer spending — and that came as a surprise to analysts. The month's drop in spending was the first in nearly two years (20 months).
The House voted to pass the compromise spending plan Monday night, but drops in federal and state credit ratings remain possible, particularly for South Carolina. To learn about the bill's local ramifications, host Michel Martin speaks with S.C.'s House Rep. for the sixth district, S.C.'s Treasurer, and the mayor Columbia, S.C.
The federal government recently announced that starting Aug. 2012, insurers must offer female preventive health services without extra costs to patients. Host Michel Martin discusses the controversial plan with the Health and Human Services Secretary. Martin also explores what the debt deal means for the Affordable Care Act with a Senior Correspondent from Kaiser Health News.
Pity the politicians as they struggle to a hammer out a deal on the US debt: the endless negotiations, the late agreements that collapse by the morning news cycle. Everywhere they turn they seem to constrained - hemmed in – by forces pulling in every direction.
The browser wars are getting personal. A new study gave IQ tests to more than 100,000 English-speaking Internet users from the U.S., Canada, U.K., Australia, and New Zealand. Those results were then compared to what browser each person was using to take the test.
Hours before the deadline to avert a U.S. default, the Senate was expected to pass legislation Tuesday in time to send it to President Obama and end the self-inflicted debt-ceiling crisis that has shaken confidence in the nation's credit and its political leaders.
The compromise bill, which easily passed the House on Monday night, is virtually assured to clear the Senate by a bipartisan tally. The president has promised to sign it into law almost immediately.
The battle over the debt ceiling may be over, but Congress remains deeply divided.
"Republicans are now taking a well-deserved victory lap while the Democrats are in a state of near total dejection," says journalist Robert Draper. "The Republicans got some cuts, they kept some revenue off the table but most of all, what they've done is dramatically shift the ethos in Washington."
The Food and Drug Administration has given the maker of Lazy Larry relaxation brownies a wake-up call.
The Associated Press reported the agency has warned HBB LLC, the Memphis-based company that sells the brownies, that the melatonin in them has not been deemed a safe food additive. And the FDA says it can seize the brownies, which it considers adulterated, if HBB keeps making and selling them.