06/25/2008 05:12 am ET | Updated May 25, 2011

Red Cross Relief Fund Bankrupt: 'The Balance Is Zero'

The American Red Cross said yesterday that it has depleted its national disaster relief fund and is taking out loans to pay for shelters, food and other relief services across seven Midwestern states battered by floods.

Officials at the charity estimated that efforts in the Midwest will cost more than $15 million and warned that the total could surpass $40 million if the Mississippi River creates floods in St. Louis later this week.

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