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3:47am

Fri November 16, 2012
Economy

U.S. Mayors Concerned About Fiscal Cliff Cuts

Originally published on Fri November 16, 2012 5:49 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.

3:47am

Fri November 16, 2012
Economy

Everyone 'Has To Participate' To Avoid Fiscal Cliff

Originally published on Fri November 16, 2012 4:26 am

Transcript

STEVE INSKEEP, HOST:

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.

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3:47am

Fri November 16, 2012
Around the Nation

Obama Promises To Follow Through With Sandy Rebuilding

Originally published on Fri November 16, 2012 5:10 am

Transcript

STEVE INSKEEP, HOST:

President Obama returned yesterday to the scene of Hurricane Sandy's devastation; this time, visiting hard-hit areas of New York. He promised to stick with residents until the rebuilding effort is complete. Here's NPR national political correspondent Mara Liasson.

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3:47am

Fri November 16, 2012
Business

Federal Housing Administration To Run Out Of Funds

Originally published on Fri November 16, 2012 4:17 am

Transcript

STEVE INSKEEP, HOST:

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.

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3:47am

Fri November 16, 2012
Business

The Last Word In Business

Originally published on Fri November 16, 2012 6:30 am

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."

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