FIRST LOOK: Still no deal on the federal budget

The Lookout

Welcome to First Look, our daily roundup of early-bird news.

• The congressional stalemate over the federal budget continues after a late-night meeting with Obama. (New York Times)

• A budget shutdown would have a significant negative effect on the economy. (Washington Post)

• Radio Shack stores in Idaho and Montana are offering free guns to people who sign up for satellite TV. (Reuters)

• The body of a second American has been found in the wreckage in Japan. The 26-year-old taught English in the country. (CNN)

• Forecasters are predicting at least five big hurricanes will form in the Atlantic this season. (Bloomberg)

• The FAA wants to fire a second air traffic controller who fell asleep on the job. (Reuters)

• Controversial NYC schools chancellor Cathie Black has lost her fourth deputy in a row. (Daily News)

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