BULLET POINTS: Economy
Apr 25th, 2008 |
- “The finances of many states have deteriorated so badly that they appear to be in a recession, regardless of whether that’s true for the nation as a whole, a survey of all 50 state fiscal directors concludes.” [AP]
- “After struggling with soaring heating costs through the winter, millions of Americans are behind on electric and gas bills, and a record number of families could face energy shut-offs over the next two months, according to state energy officials and utilities around the country. [NYT]
- “Though the Pentagon doesn’t keep statistics on foreclosures, officials say a growing number of service members are struggling with their mortgages.” [NPR]
- “The Bush administration regularly dismisses the idea of stepping in to prop up the housing market. Behind the scenes, a government agency is doing just that. Last year, the Federal Housing Administration’s insurance fund paid $158.6 million in incentives to keep lenders from foreclosing on mortgages backed by the government. That is a 61% leap from five years ago, according to government data. As a result, more than six in 10 homeowners who defaulted on FHA-insured loans were able to stay in their houses, up from three in 10 in 2000.” [WSJ]
