MikeLigalig.com

By RICHARD COWAN and DAVID LAWDER, Reuters
October 17, 2013 10:24am

 
WASHINGTON - The US Congress on Wednesday approved an 11th-hour deal to end a partial government shutdown and pull the world's biggest economy back from the brink of a historic debt default that could have threatened financial calamity.
 
Capping weeks of political brinkmanship that had unnerved global markets, the Senate and House of Representatives each passed the spending measure after Republicans dropped efforts to link the legislation to changes in President Barack Obama's signature healthcare law.
 
Obama vowed to sign the bill and begin reopening the government "immediately."
 
The deal, however, offers only a temporary fix and does not resolve the fundamental issues of spending and deficits that divide Republicans and Democrats. It funds the government until Jan. 15 and raises the debt ceiling until Feb. 7, so Americans face the possibility of another government shutdown early next year.

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=76325.0

Senator John McCain, whose fellow Republicans triggered the crisis with demands that the Democratic president's "Obamacare" healthcare reform law be defunded, said earlier on Wednesday the deal marked the "end of an agonizing odyssey" for Americans.
 
"It is one of the most shameful chapters I have seen in the years I've spent in the Senate," said McCain, who had warned Republicans not to link their demands for Obamacare changes to the debt limit or government spending bill. Polls showed Republicans took a hit in public opinion over the standoff.
 
The Democratic-led Senate overwhelmingly passed the measure on a 81-18 vote, and the Republican-controlled House followed suit 285 to 144, clearing the way for Obama to sign it into law no later than Thursday, when the Treasury says it will hit the $16.7 trillion debt ceiling.
 
Fully reopening the government was expected to take several days. While essential functions like defense and air traffic control have continued, national parks and agencies like the Environmental Protection Agency have been largely closed. –Reuters

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=76325.0