Friday was supposed to be the deadline for a key part of the health care law: states were to tell the federal government about their progress on building a state exchange. But the deadline has been extended for the second time in a week. States now have until Dec. 14.
Listen carefully to both President Obama and Republican leaders, and you hear hints of room for compromise. They're talking of taxes and spending as a deadline approaches, December 31st, when higher taxes and spending cuts would take effect. That would reduce the federal deficit, but also damage the economy, according to forecasters.
NPR's business news starts with more mortgage problems.
(SOUNDBITE OF MUSIC)
INSKEEP: Independent auditors released a report this morning, showing that the Federal Housing Administration is facing a shortfall from losses on the mortgages it insures. The Obama administration says it's going to take steps to prevent a taxpayer bailout.
As NPR's Ailsa Chang reports, the FHA has been struggling since the foreclosure crisis hit four years ago.
Originally published on Sun November 18, 2012 9:25 am
LINDA WERTHEIMER, HOST:
As Israel and Hamas continue launching attacks, residents of the Israeli city of Tel Aviv and communities to its south remain on alert for missile strikes. Sheera Frenkel reports that many fear the current round of violence is nowhere close to being over.
Honda, which has long aspired to launch off the road and into the skies, is one step closer to that goal. It has started production on its HondaJet. It's a twin jet engine aircraft, being assembled in North Carolina, aimed at the business market. Industry insiders call it the "Honda Civic of the skies."
Voters in Washington and Colorado just approved measures legalizing marijuana for recreational use. But businesses that want to sell marijuana in those states will face a problem: No bank wants to do business with them.
I called several banks in Washington. I called a local credit union, a tiny bank in the San Juan islands. Everybody said basically the same thing. Even if selling marijuana is legal under state law, it's still illegal under federal law. And banks and credit unions worry that this could get them in trouble.
Whenever there's a disaster, people want to give, and Hurricane Sandy is no exception. According to The Chronicle of Philanthropy, U.S. charities collected more than $174 million in donations as of Nov. 9 to help respond to the storm.
But it's not only money that has been pouring in. Relief programs have also received mountains of clothes, food and other supplies, not all of which are needed.
Every so often, people at an NPR station discover a song they can't get enough of. On those occasions, we ask them to share their obsession with the nation. Ben Famous is the music director at KCEP Power88 in Las Vegas. He spoke to Morning Edition host Steve Inskeep about a new cut from R&B heavyweight Avant. It's called "You and I," and it features Keke Wyatt. "The first time we played it," says Famous, "the phone lines lit up, and people were like, 'Who was that?' 'What was that?'"