Modest budget pact restores 65 billion in cuts
Congressional negotiators reach a modest budget agreement to restore about 65 billion in automatic spending cuts through September 2015 with offsets totaling about 85 billion over a decade. The deal raises pension contributions and a security fee, while funds for extending unemployment benefits expire December 28 for about 1.3 million workers.
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U.S. household wealth hits record high this summer
The Fed reports wealth rose 2.6 percent from July to September to 77.3 trillion, recouping losses from the Great Recession. Stock prices added 917 billion, rising home values by 428 billion, signaling a gradual recovery and potential boost to future spending.
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Kerry Congress spat over Iran nuclear deal
Secretary of State John Kerry defended diplomacy before the House Foreign Affairs Committee amid a clash with Congress over the Iran nuclear deal. He warned against scuttling talks and urged bipartisanship to avoid renewed confrontation, stressing the pact’s potential to halt core elements of Iran’s program.
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House Foreign Affairs Committee
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