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 Steven Senne / Associated Press
The president, breaking from his summer vacation to make the announcement, lauds the "bold action" of the Federal Reserve chairman during a time of economic crisis.
The fiscal assessment by the budget office is far bleaker than what the Obama administration estimated just a few months ago.
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TransUnion predicts that the percentage of home loans at least 60 days late or in foreclosure will surpass 14% this year.
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