Congressional leaders reach a debt deal to avoid painful sequestration cuts

The original “sequestration” – a series of automatic cuts imposed unilaterally across domestic and defense spending programs – was passed during the Reagan administration as an amendment to an earlier political battle over raising the debt ceiling more than $2 billion.

FreddieMac.com launches online tool for distressed borrowers Remortgage tool launches to help broker firms compete with Trussle and habito.. freddie mac says portfolio has 167000 mortgages in Harvey-hit counties.. Only 9% of Mortgage Borrowers Said They Used the Internet to Find Their Lender According to the.

White House, congressional leaders reach budget, debt ceiling deal The deal, which was being negotiated by Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi, was finalized Monday.

Congressional leaders reach a debt deal to avoid painful sequestration cuts. According to Time, the agreement sets spending levels for two years and removes scheduled automatic cuts in an attempt to avert another government shutdown. "The deal does little to resolve the much larger partisan divides on government spending, but if enacted,

It would represent the fifth two-year budget agreement since a 2011 budget and debt bill set the stage for much-reviled automatic cuts known as sequestration. Without an agreement, the automatic.

With mandatory defense cuts looming next year and new war costs mounting, Congress will almost certainly reach for. which military leaders say are necessary to keep the services ready to protect.

The other half of the problem is a set of punitive across-the-board spending cuts, looming only because partisan panel of politicians failed to reach a debt deal. Put together. Obama invited the.

The U.S. faces the possibility of another recession – the third in 11 years – if President Obama and Congress cannot find a way to avoid the so-called. Taylor, Andrew. “Hill leaders voice.

WASHINGTON (AP) – Top leaders of both parties in Congress made better-than-expected progress Tuesday on two must-do items on the legislative agenda: averting automatic budget cuts and meeting a.

Commercial mortgage-backed securities market at crossroads Warren Buffett sees housing recovery to start within a year Berkshire Hathaway has a successor for long-time manager warren buffett, but the company isn’t saying yet who will replace the investing legend when he is no longer in charge.In the company’s annual letter to shareholders, released Saturday, Buffett noted some of the recent changes at Berkshire, including the fact that Todd Combs came on board as investment manager at the start of 2011 and.today announced the addition of non-agency residential mortgage-backed securities (non-agency RMBS) and commercial mortgage-backed securities (CMBS) to its award-winning e-trading platform..

Top leaders of both parties in Congress made progress Tuesday on two must-do items on the legislative agenda: averting automatic budget cuts and meeting a deadline later this year to increase the.

Record income growth helps homebuyers in poorer cities  · Why Wealth Gap Has Grown Despite Record-Long Economic Growth As public discontent has grown, the issue has become one for political candidates to harness – beginning with Donald Trump in 2016

Driving the bipartisan talks is the desire to avoid automatic spending cuts that threaten to hit the Pentagon and other federal agencies with budget reductions averaging 10 percent. At the same time, increasing the debt limit is required to avert a first-ever, market-quaking default on government obligations like interest payments and Social.

Congressional budget leaders reached a debt deal, hoping to avoid billions of dollars in automatic spending cuts while getting the 2014 fiscal year kicked off without political gridlock over how.