Good morning. I'm Linda Wertheimer. A Japanese spa resort made quite a splash yesterday in a pool spiked with Beaujolais Nouveau, the first vintage of the season from the famous French wine region. The fresh and fruity drink was released yesterday. The spa near Mt. Fuji celebrated with wine in glasses, as well: sips and dips for spa customers. The spa also promised beautiful, smooth skin. It's MORNING EDITION. Transcript provided by NPR, Copyright National Public Radio.
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.
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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.
It's MORNING EDITION, from NPR News. I'm Steve Inskeep.
LINDA WERTHEIMER, HOST:
And I'm Linda Wertheimer. Former CIA Director David Petraeus is testifying before two congressional committees today. He's been called to discuss the CIA's role in the attack at the U.S. Consulate in Benghazi, back in September; an attack that took the lives of four Americans, including Ambassador Christopher Stevens. This also happens to be General Petraeus' first public appearance on Capitol Hill since he resigned over an extramarital affair.
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."