Detroit officials face a tough vote Tuesday as they try to keep their city from going over its own "fiscal cliff." If the mayor and City Council cannot agree on a plan to reduce the city's budget deficit, state officials are poised to take away their power and assume total control over Detroit's finances.
It's been a continuing vicious cycle: Detroit's population exodus, lost tax revenue and chronic mismanagement have left the city burning through cash to the point where the state of Michigan has to provide funding to help the city meet payroll for the next few months.
By the year 2030, for the first time in history, a majority of the world's population will be out of poverty. Middle classes will be the most important social and economic sector. Asia will enjoy the global power status it last had in the Middle Ages, while the 350-year rise of the West will be largely reversed. Global leadership may be shared, and the world is likely to be democratizing.
Update at 7 a.m. ET, Dec. 11. Settlement Announced:
Saying that "we accept responsibility for our past mistakes," the chief executive of Britain's HSBC has confirmed that the banking giant will pay a record $1.9 billion to settle charges related to a money laundering scheme in the U.S.
From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.
ROBERT SIEGEL, HOST:
And I'm Robert Siegel. President Obama got out of Washington today. He visited a car plant this afternoon in Detroit. The president was there, in part, to talk jobs and to herald some good news for manufacturing in Michigan. But looming over today's visit, and over much of what Mr. Obama does these days, are the budget negotiations back in Washington.
That raid is one of a number of recent examples of U.S. special operations taking the direct approach, conducting a targeted military strike. This is what special operators are best known for. It's the reason the special ops budget has more than quadrupled since 9/11, and it's the kind of approach that killed Osama bin Laden.
You're listening to ALL THINGS CONSIDERED from NPR News.
Kennebunk, Maine, is the quintessential small New England town, attracting tourists every year to its beaches and shops. But this fall, it became known for something else: a prostitution scandal. Police publish new lists of alleged patrons every other week, and those who are rumored to be patrons face months of speculation. Maine Public Radio's Patty Wight reports.
After the U.N. General Assembly upgraded the status of the Palestinian Authority to an observer state the week before last, Israeli Prime Minister Benjamin Netanyahu responded with an expansion of housing plans on the West Bank, near Jerusalem and Tel Aviv. The U.S. called that counterproductive. And it came after Washington had backed Israel in the U.N., helped Egypt mediate a cease-fire in Gaza and funded production of Israel's Iron Dome anti-missile system.
The women's shoe department at Nordstrom's flagship store in Seattle is bustling. Shoppers are trying on everything from stilettos to rain boots — and when they're ready to buy, they can pay up right where they are.
The sales associate simply whips out a modified iPod Touch and scans the shoe box's bar code. The handheld device contains a credit card reader, too, so the customer can just hand over the plastic and sign with a fingertip. There's no trek to the cash register and no line to wait in.
Now an observation about budget deals, tax increases, ideology, and self interest here in the United States. It comes from writer Joel Kotkin, who covers demographic, social and economic trends. Kotkin recently wrote a piece for Forbes called "The Blue-State Suicide Pact." It's about who favors and who would be hit by a higher tax rate for income over $250,000 a year. And Kotkin says the states that would be hardest hit by the very tax increases that Democrats favor are the states where Democrats tend to be the strongest.