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 Fri November 16, 2012 6:49 am
The two biggest fears of the fiscal cliff are defense cuts and tax hikes. The nation's mayors say the devastating effects of automatic cuts reach further than the Defense Department — right into their own cities. Steve Inskeep talks to the Democratic Mayor of Charleston, S.C., Jospeh Riley and Republican Mayor Scott Smith of Mesa, Ariz., about the impact sequestration could have in their cities.
Some Democrats complain that Republicans in recent decades have had the edge in House races because GOP state legislatures have been better at the gerrymandering game. Except that may not be true.
Some political experts believe there's an easier explanation, and perhaps a tougher one for Democrats to overcome: Voters supporting Republican House candidates, they say, are spread over more congressional districts than those who support Democrats. It's that simple. It's merely a matter of geography.
Voters were frustrated by a 2012 presidential race they called more negative than usual and more devoid of substantive discussion of issues, according to a survey released Thursday by the Pew Research Center.
And voters are pessimistic about the prospect of a more productive Congress, Pew found.
Two-thirds of registered voters surveyed after Election Day said they believe relations between Democrats and Republicans will stay the same or worsen over the coming year.
From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish
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And I'm Melissa Block.
Fault lines are forming in the Republican Party over comments from Mitt Romney about why he lost last week's election. In a conference call yesterday, with some of his biggest donors and fundraisers, Romney said President Obama won by bestowing gifts on targeted groups, including young people and minorities.
We're going to dig into some of those policy differences now between Republicans and Democrats. When it comes to reducing the deficit, both sides insist it's time for compromise. But President Obama says tax cuts for the richest Americans must end.
PRESIDENT BARACK OBAMA: When it comes to the top two percent, what I'm not going to do is to extend further a tax cut for folks who don't need it.
I'm Michel Martin, and this is TELL ME MORE, from NPR News. In a few minutes, we will speak with the winner of the prestigious National Book Award for Nonfiction, author Katherine Boo. She was honored for her book about the people in a neighborhood in Mumbai, and she'll tell us more about it in a few minutes.
There has been no dearth of post-election Republican self-flagellation.
Louisiana Gov. Bobby Jindal, on the eve of heading out to a meeting of Republican governors in Las Vegas, warned the GOP to "stop being the stupid party." At the gathering Wednesday night, he leveled more harsh criticism at party presidential candidate Mitt Romney.
The Republican Governor's Association is meeting this week in Las Vegas. Republicans lost seats in the House, Senate and the presidential race. But the GOP gained one more state, North Carolina, to put the number of Republican governors at 30. The governors say there's nothing wrong with the party that a few changes around the margins won't fix.