Cheat Sheet - 7 Shutdown Winners

Today: Treasury: Default Could Be Catastrophic , Tropical Storm Karen Strengthening , NYT Public Editor Blasts Headline October 03, 2013 OPEN FOR BUSINESS 1. Seven Shutdown Winners What do Dolly Parton and foreign spies have in common? They're among the few groups that have been able to reap a very short-lived reward from this week's government shutdown. The Daily Beast's Nina Strochlic talks to some other surprising beneficiaries. Read it at The Daily Beast Recession Round 2? 2. Treasury: Default Could Be Catastrophic Whether or not the U.S. actually defaults on its debt, just getting dangerously close to the debt ceiling is certain to have a grave economic impact, according to a new report by the Treasury Department. The report, released Thursday, suggests a default might lead to "a financial crisis and recession that could echo the events of 2008 or worse." But, in a statement to lawmakers, Treasury Secretary Jacob Lew noted that simply "postponing a debt ceiling increase to the very last minute is exactly what our economy does not need—a self-inflicted wound harming families and businesses." The report urges members of Congress to remember the impact that 2011's debt-limit standoff had on the confidence of small businesses, consumers, and stock market investors. Read it at The New York Times SHE'S COMING 3. Tropical Storm Karen Strengthening Hurricane and tropical storm warnings are in effect for areas along the Gulf Coast from Florida to Louisiana, as the region braces for Tropical Storm Karen, which formed in the Caribbean on Thursday morning. The 11th named storm of hurricane season currently has a wind speed of about 65 mph, but there is a "near 100 percent" chance that it will turn into a hurricane by Friday, according to the National Hurricane Center. Read it at National Hurricane Center Ouch 4. NYT Public Editor Blasts Headline In a strongly worded post Thursday, New York Times public editor Margaret Sullivan criticized the paper for an "unacceptable" front-page headline on a "questionable" article that granted total anonymity to government officials criticizing other media outlets that had reported details about intelligence gathering that the Times chose to withhold. The officials claimed that those reports about the government intercepting messages from al Qaeda leader Ayman al-Zawahiri had caused the lines to go silent. Sullivan blasted the Times story for parroting the government line against other media outlets. "Not a shred of attribution ... just straight from the mouths of anonymous government sources into the automatic credibility conferred by the paper of record's front page." The editor of the Times copy desk agreed that the headline was "not up to our standards." Read it at The New York Times TROUBLE 5. More Bad News for Bachmann Kent Sorenson, the Iowa state senator linked to an ongoing ethics investigation of former presidential candidate Rep. Michele Bachmann (R-MN), resigned from office on Wednesday, after an investigation by Iowa's Senate Ethics committee found "probable cause" that Sorenson violated state ethics rules by taking payments from the Bachmann campaign and that his denials of doing so constituted felonious misconduct in office. The Daily Beast's Ben Jacobs reports. Read it at The Daily Beast REVISIONIST Denny Disses 'Hastert' Rule Ex-speaker says it's a "non-entity." Grisly Europeans Burned Alive in Madagascar Mob suspected them of organ trafficking. SMOOTH MOVE Rep. Disses 'Beautiful' CNN Anchor "You don't know what you're talking about." HOT IN COLUMBUS Ohio Women Protest Abortion Limits Say state violates their rights. HOT BOOKS Bitcoin Erotica Is Here Read it if you dare. YOUR TANGO Exclusive: Dita Von Teese on Va-Va-Vooming Your Sex Life CONDE NAST TRAVELER 10 Worst States for Mortage Fraud WONDERWALL Demi Lovato Debuts Her New Look GET The Cheat Sheet A speedy, smart summary of news and must-reads from across the Web. You'll love the featured original stories on politics, entertainment, and more from The Daily Beast's diverse group of contributors. GET Culture Beast Weekly cultural recommendations from The Daily Beast. Stay-At-Home Mom 'Quits' Job With a little help from Kanye. More Videos GOP Donors Revolt by David Freedlander Celebrating the Turban by Soraya Roberts Targeting Transgender Quits by Caitlin Dickson

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