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NewsMail Afternoon Edition
Tue 01 Oct, 2013

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US government in shutdown after Obamacare stalemate

The US government has been shut down after a stand-off between Republicans and Democrats over president Barack Obama's signature healthcare reform.

The Republican-controlled House of Representatives would not pass spending measures for government operations unless Mr Obama watered down his healthcare reforms.

However, the White House refused to budge on the reforms, dubbed Obamacare, which would provide medical cover for millions of uninsured Americans.

The shutdown means US government departments will close, forcing as many as 700,000 government employees to take unpaid leave.

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The Drum

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More than just a financial crisis

Five years ago, the United States Congress was debating its $700 billion bank bailout bill.

Lehman Brothers had collapsed a fortnight earlier. Global share markets were in free fall. It was a time of panic.

But half a decade onwards it is clear the GFC was a cultural crisis as much as an economic one. While the policy ramifications have been modest and reversible, we have been left with a deep cynicism about our economic and political institutions.

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Just In

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Motoring Enthusiast Party wins a seat in the Australian Senate

Australian Motoring Enthusiast Party member Ricky Muir has won a seat in the Victorian Senate after a final count by the AEC.

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World

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US government in shutdown after Obamacare stalemate

The US government has been shut down after a stand-off between Republicans and Democrats over president Barack Obama's signature healthcare reform.

The Republican-controlled House of Representatives would not pass spending measures for government operations unless Mr Obama watered down his healthcare reforms.

However, the White House refused to budge on the reforms, dubbed Obamacare, which would provide medical cover for millions of uninsured Americans.

The shutdown means US government departments will close, forcing as many as 700,000 government employees to take unpaid leave.

More »

Business

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Reserve Bank leaves official interest rate at 2.5 per cent

The Reserve Bank has left Australia's official interest rate unchanged at 2.5 per cent.

The move is in line with analysts' expectations, and comes after the central bank cut the official rate by 25 basis points in August.

The RBA has reacted to growing uncertainty about global and domestic economic conditions by cutting the official rates by 225 basis points since November 2011.

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Politics

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Motoring Enthusiast Party wins a seat in the Australian Senate

Australian Motoring Enthusiast Party member Ricky Muir has won a seat in the Victorian Senate after a final count by the AEC.

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Sport

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Giants withdraw offer to Franklin

The Giants say they have withdrawn their offer to Lance Franklin after the club was advised the two-time premiership player will join the Swans.

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Science and Technology

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Breakthrough brings cure for MS sufferers closer

Scientists are hailing the discovery of 48 genetic variants which influence the risk of a person getting multiple sclerosis as a breakthrough that brings them a step closer to finding a cure.

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Environment

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Queensland swelters through hottest year on record

Queensland has recorded its hottest year since records began more than 100 years ago.

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