Reverse mortgages are to blame, and the agency has until Sept. 30 to determine whether it needs to tap the treasury. The FHA commissioner said in a statement that if not for the reverse mortgages, the agency would have had a $4 billion surplus at the end of the year.
The issue is a minefield for congressional Republicans, who face enormous consequences regardless of the outcome. Many party leaders believe legislation is critical to improving their standing with Hispanics, while many in the conservative base threaten a revolt if the resulting legislation makes it possible for undocumented immigrants to gain legal status.
The Senate is expected to hold its first floor vote on a gun bill since the Newtown school shootings on Thursday. It's an attempt to move forward on legislation expanding the use of criminal background checks for gun buyers. Some Republicans had threatened a filibuster to stop the measure, but support for that tactic appears to have diminished.
Republican Sen. Rand Paul of Kentucky gave a speech Wednesday at Howard University in Washington, D.C. He began by posing this question to the audience at the historically black school: How did the party that elected the first black U.S. senator, the party that elected the first 20 African-American Congressmen become a party that now loses 95 percent of the black vote?
Seven years ago, Evie Branan suffered a stroke that left her in a semi-coma. In May of 2011, she tumbled out of bed, bumped her head and woke up. Her first words: "I want to go to a Bob Seger concert."
Police say the patties were being stored in a New Jersey shipping yard. Surveillance footage shows a 40-foot refrigerated container holding 3,000 burgers being towed away by a tractor trailer late Monday night.
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