Congressional leaders reach a debt deal to avoid painful sequestration cuts

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.

Obama’s position is that Congress should now act to avoid those across-the-board cuts. Obama can’t rightly say the sequester isn’t his, but he did need cooperation from Congress to get to.

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Rand Paul calls GOP colleagues hypocrites White House – Congressional leaders reach debt ceiling compromise; Must Now Sell Plan to the Congress A "deal" has been struck over the weekend between the White House and congressional leadership to raise the federal government’s debt ceiling in exchange for significant cuts in spending levels over the next decade, and avoid a first.

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.

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.

Divided Congress Working to Avoid Automatic Cuts, Increase Debt Limit Posted by News Team | May 22, 2019 | News 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 government’s borrowing limit.

White House – Congressional Leaders Reach Debt Ceiling Compromise; Must Now Sell Plan to the Congress A “deal” has been struck over the weekend between the White House and congressional leadership to raise the federal government’s debt ceiling in exchange for significant cuts in spending levels over the next decade, and avoid a first.

MBA: Jumbo loans drive mortgage credit availability Credit Availability Climbs to Three-Month High in May. An increase availability of high balance loans helped drive the Mortgage Bankers Association’s (MBA’s) Mortgage Credit availability index (mcai) to a three-month high in May. MBA said the Index rose 1.5 percent to 180.6. An increase in the MCAI is indicative of loosening credit standards.

– Solutions to the federal sequestration plan seemed scant Friday, but blame was widely shared among New Jersey’s congressional leaders as the deadline passed to strike a deal to avoid $85.

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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.