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The Two-Way
4:38 am
Fri July 27, 2012

Did Economy Slow Further In Second Quarter? We Find Out Today

Originally published on Fri July 27, 2012 7:01 am

The economy grew at a sluggish 1.5 percent annual rate in the second quarter, the Bureau of Economic Analysis reported this morning, down from a 2 percent pace in the first quarter.

This is the bureau's first estimate of GDP growth in the spring months. It will revise the figure twice in coming months. It's now 8:33 a.m. ET. We'll have more about the report shortly.

Update at 10 a.m. ET. The White House Points To String Of Positive Quarters:

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The Two-Way
4:00 am
Fri July 27, 2012

In London, The Games Are Afoot

The Olympic Flame as it passed through London on Thursday.
Andrew Cowie AFP/Getty Images

Originally published on Fri July 27, 2012 4:47 am

You've almost surely heard by now:

The London Summer Olympics officially begin today. The opening ceremony, with — we hear — a song from Sir Paul McCartney, some farm animals and "helmeted cyclists wearing giant silvery-blue flapping wings, pedaling around in two huge circles" — is to start just after 4 p.m. ET.

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It's All Politics
10:13 pm
Thu July 26, 2012

Obama Would Pay More — Romney, A Lot More — If Bush-Era Tax Cuts End

President George W. Bush signs tax cut legislation on June 7, 2001. The cuts from this and a subsequent bill are set to expire at the end of 2012.
Stephen Jaffe AFP/Getty Images

Originally published on Fri July 27, 2012 12:42 pm

An occasional series, Fiscal Cliff Notes breaks down the looming "fiscal cliff" of expiring tax cuts and deep automatic spending cuts set to hit around the first of year.


About 80 percent of Americans would see their taxes go up if all the tax cuts signed into law by President George W. Bush were to expire as scheduled at the end of this year. And nearly 100 percent of the highest income earners would have to pay more — including both the Obamas and the Romneys.

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The Torch
10:13 pm
Thu July 26, 2012

'Tremendous Honor': Dancing For The World At Olympics Opener

Sasha Feachem (right) will be performing in an urban street dance during the London Olympics' opening ceremony Friday.
Tom Goldman NPR

Originally published on Fri July 27, 2012 8:44 am

The London Summer Olympics officially begin today with the opening ceremony. Oscar-winning director Danny Boyle of Slumdog Millionaire has put together the latest Olympic kickoff spectacle. As NPR's Philip Reeves reported yesterday, a preview video has been released.

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Around the Nation
10:13 pm
Thu July 26, 2012

L.A. Council Bans Pot Shops After Regulation Struggle

Pedestrians walk past a medical marijuana dispensary in the Echo Park area of Los Angeles Tuesday. The City Council voted that day to ban marijuana shops outright.
Damian Dovarganes AP

Originally published on Fri July 27, 2012 8:44 am

The Los Angeles City Council voted Tuesday to shut down all of the medical marijuana dispensaries in the city. That's no easy task. There are more than 800 of them — more than the number of Starbucks coffee shops in Los Angeles. But after years of struggling to regulate pot shops, city officials have decided to prohibit them altogether.

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