1 Updates
US shutdown showdown is over (Third lead)
Photo Credit: , Getty Images

US shutdown showdown is over (Third lead)

Oct 17 2013, 8:26am CDT | by IANS

Washington, Oct 17 (IANS) Federal employees headed back to work, and national parks and museums began to reopen Thursday after the US Congress voted to end a 16-day budget standoff, handing President Barack Obama a major victory.

Washington, Oct 17 — Federal employees headed back to work, and national parks and museums began to reopen Thursday after the US Congress voted to end a 16-day budget standoff, handing President...

Filed under: news

Full Story below YouTube Videos

 
 

 

26 weeks ago

US shutdown showdown is over (Third lead)

Oct 17 2013, 8:26am CDT | by IANS

Washington, Oct 17 (IANS) Federal employees headed back to work, and national parks and museums began to reopen Thursday after the US Congress voted to end a 16-day budget standoff, handing President Barack Obama a major victory.

Washington, Oct 17 — Federal employees headed back to work, and national parks and museums began to reopen Thursday after the US Congress voted to end a 16-day budget standoff, handing President Barack Obama a major victory.

Obama swiftly signed a bill funding the government through Jan 15 and raising the nation's $16.7-trillion debt limit through Feb 7 well past midnight after Republicans threw in the towel in their fight to derail the president's signature healthcare law.

The deal, aimed at averting a financial default with the US set to run out of cash to pay its bill Thursday, also sets a mid-December deadline for completing budget negotiations between the House and the Senate for a long-term spending plan.

The eleventh hour deal with only minor concessions from Democrats hammered out earlier by Democratic Senate Majority Leader Harry Reid and his Republican counterpart Mitch McConnell received broad bipartisan support in both chambers.

Also included in the deal is a provision that strengthens verification measures for people getting subsidies under Obamacare, the only concession that the Republicans were able to wrest from the Democrats.

The vote was 81-18 in the Democratic-led Senate with only 18 of the 45 Republicans opposing it and 285-144 in the Republican-controlled House. As many as 87 Republicans joined all 198 Democrats in supporting the measure.

Several of the Senate's most conservative Republican members led by Senator Ted Cruz, who had spearheaded the fight against Obamacare, voted against the bill.

"This is a terrible deal," said Cruz on the Senate floor before the vote, though he acknowledged that it would pass. "This deal embodies everything about the Washington establishment that frustrates the American people."

Shortly after the Senate vote Wednesday night, Obama said once the House passes the deal, "I will sign it immediately. We'll begin reopening our government immediately."

"We can begin to lift this cloud of uncertainty from our businesses and from the American people," he said.

"There's a lot of work ahead of us, including our need to earn back the trust of the American people that's been lost over the last few weeks," he said. "And we can begin to do that by addressing the real issues that they care about."

As he was leaving the room, Obama was asked, due to the temporary nature of the agreement, if he thought "isn't this going to happen all over again in a few months?"

"No," he responded.

Later, White House Office of Management and Budget (OMB) director Sylvia Mathews Burwell issued a statement at about 12.45 a.m. saying Obama has signed the bill and the OMB would "work closely with Departments and Agencies to make the transition back to full operating status as smooth as possible".

Democrat Senate Budget Committee chairwoman Patty Murray and House Republican Budget Committee chairman Paul Ryan plan to have a breakfast meeting Thursday to start the ball rolling on budget negotiations.

The deal also gives the Treasury Department the ability to borrow beyond the debt ceiling.

"Because of today's efforts, we will continue to honour all of our commitments - a core American value - and preserve the full faith and credit of the United States," Treasury Secretary Jack Lew said in a statement Wednesday night.

(Arun Kumar can be contacted at arun.kumar@ians.in)

IANS

Source: IANS

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

AFG Group Wins 2013 CMAA Project Achievement Award
AFG Group Wins 2013 CMAA Project Achievement Award
AFG Group is honored to receive the 2013 CMAA Project Achievement Award from the Association’s National Capital Chapter. The award recognizes AFG’s outstanding Construction Management practices on the 5-year Steam Line & Condensate Replacement Project, serving GSA’s Heating Operations & Transmission Division. This complex $13.6M project accomplished replacing 11,000 LF of underground steam lines that serviced 21 Federal buildings within the District.
 
 
Ukraine Crisis and Asylum Seekers
Ukraine Crisis and Asylum Seekers
Law Office of Alena Shautsova, a New York Immigration law firm located in Brooklyn , provides the full spectrum of immigration services including consultations regarding immigration benefits for citizens of troubled territories.
 
 
Major Efforts to Mitigate Climate Change Well Under Way in Europe
Major Efforts to Mitigate Climate Change Well Under Way in Europe
Responding to the UN report on climate change mitigation, European innovators working across a range of climate innovation disciplines are stressing that major efforts are well under way in Europe.
 
 
EU Climate Innovation Chief Executive: Private, Public and Academic Sectors Need to Come Together
EU Climate Innovation Chief Executive: Private, Public and Academic Sectors Need to Come Together
Mary Ritter, CEO of the EU's main climate innovation initiative Climate-KIC, calls for greater collaboration between the private, public and academic sectors to develop new solutions to stop further climate change.
 
 
 

Latest from the Network

3 Steps To Landing A Web Designer Internship
As a web designer myself, I can relate to young web designers who are just starting out and looking for a way to get their foot in the door. It’s very hard to start because many companies are looking for experienced...
Read more on Business Balla
 
4 Dow Stocks Under Accumulation
The choppy nature of the 1st quarter is not surprising after the action in 2013. The sharp declines in the Nasdaq 100 and biotechnology stocks have caused some technical damage that would normally take time to repair....
Read more on Business Balla
 
Bank Deposits, Structuring, and Asset Forfeitures
This is a version of an article originally published in the Winter 2014 issue of the White Collar Crime Committee Newsletter, Criminal Justice Section, American Bar Association.  For the original article, including full...
Read more on Business Balla
 
Is Big Data A Potential Distraction?
Over recent months, I’ve read numerous articles that have reported that many executives are struggling with ‘Big Data’. In fact, many studies report that upwards of 50-60% of executives say that their firms are weak or...
Read more on Business Balla
 
Does Doing Good In Business Imply Doing Less Well?
Many entrepreneurs still don’t understand that building a business culture today of doing good, like helping people (society) and planet (sustainability), is also a key to maximizing profit. Employees and customers...
Read more on Business Balla
 
Melissa Joan Hart: Celebrity pressure is gym motivation
Melissa Joan Hart admits the pressure of being a celebrity encourages her to go to the gym. The 38-year-old actress - who gained 60lbs while pregnant with her third child in 2012 - recently lost a dramatic 40lbs and...
Read more on Celebrity Balla
 
iPad Sales Predicted to Decrease in Q2 2014
The iPad might be unable to generate a blockbuster sale in the second quarter of 2014, as a new report claims that the device might experience a declined sale in the specific period.The report has been published by...
Read more on Apple Balla
 
New Photos Reveal the iPad Air 2 with Integrated Front Panel and Display
The next model of iPad Air might get a thinner shape, as a number of photos reveal that the device will include its front panel integrated with the display, rather than being separated.The photos have been unveiled by...
Read more on Apple Balla
 
Pebble Is Winning The Wearables War and What That Means For The iWatch
Some suggestive data indicates that the Pebble smartwatch, which sold 400,000 units in 2013, has the most staying power of the first batch of consumer wearables. null Want a clear indication that what these numbers show...
Read more on Business Balla
 
Sberbank Denies Funding Pro-Russia 'Terrorists' In East Ukraine
As chapters in the Russia-Ukraine political drama unfold, Russia’s largest bank takes center stage. Sberbank, Russia’s largest, is being investigated by Ukraine’s Attorney General for allegedly paying Ukrainian soldiers...
Read more on Business Balla
 
 
Auto Balla Sexy Balla Sport Balla TV Balla Politics Balla Movie Balla Apple Balla Business Balla Ad Balla Celebrity Balla