Sep 26, 2011

Cheat Sheet - Roger Ailes’s Reality Show

  Today: FEMA Can Last Until Thursday , Army to Cut 8.6 Percent of Troops , India Floods Displace Millions
The Daily Beast Cheat Sheet: Afternoon

September 26, 2011
Fox News

First, Ailes dialed back the Tea Party talk. Now he's turning the GOP race into a political X-Factor—and steering the election agenda one more time.


Wow, two more days! Actually, that could make a big difference. A Senate aide says that the Federal Emergency Management Agency has enough money to last until Thursday, not Tuesday, as originally predicted. The latest estimate is that FEMA has $114 million left in its disaster aid fund, which could be significant because it's possible that the agency won't need any additional funds until the new budget year begins. Congress has been in a standoff on whether to pass Democratic Sen. Harry Reid's legislation that provides FEMA with the disaster-relief money without offsetting spending, which the GOP is against. If Republicans kill the bill, the government could shut down this weekend. If FEMA doesn't need the funds, the crisis could be averted.


Apparently even the U.S. Army is laying off people. Starting in March, it will cut 50,000 troops, or 8.6 percent of its force, over five years, according to Lt. Gen. Thomas P. Bostick. The cuts will bring the total force to 520,400 active-duty soldiers by October 2016. Bostick told the Army Times that demand in Iraq and Afghanistan is diminishing, and the military must manage a drawdown anyway. Most of the cuts will come through retirements, buyouts, and voluntary and involuntary separations.


For two weeks, heavy rains have deluged the north and east regions of India, killing at least 80 people and displacing 2 million. Scores have drowned; others died from snakebites or collapsed walls. Ten went missing when their boat overturned. "Many of them died in their sleep," said an official in Jaunpur, one of the hardest-hit areas. As waters rise—the rains are expected to keep up for two more days, complicating rescue efforts—hundreds of thousands have been forced to climb trees or up onto rooftops. The Indian Air Force has been called in to help.


Now's the time to buy that new house: new home sales fell 2.3 percent to a six-month low, with prices dropping 7.7 percent, the largest decline since August 2009. The drop puts the market on track to see 295,000 new homes sold this year, just a hair above what economists have predicted. Foreclosure-driven price increases on other homes may be keeping buyers away from new houses, and limited access to credit continues to drag down the new-home market.

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Timeline feature shows who doesn't like you.
Colin Powell Writes New Book
To be released in May.
Reagan Adviser Wants to Bring Back Gold Standard
Will present plan to Congress.
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