Obama signs debt ceiling deal, averting historic default
President Obama signed the budget bill into law early on Thursday, effectively ending a fiscal impasse that had brought the U.S. to the brink of what would have been a potentially disastrous debt default.
The deal was crafted on Wednesday in the Senate, where it was approved by a vote of 81 to 18 and was then sent over to the Republican-controlled House of Representatives, which passed the deal with 285 votes in favor and 144 against.
"Our country came to the brink of disaster. But in the end, political adversaries set aside their differences and disagreements to prevent that disaster."
The agreement will fund the government until January 15th and extend the country's 16.7 trillion dollar borrowing limit until February 7th.
The agreement also leaves President Obama's signature healthcare law virtually intact, representing a major defeat for Republican conservatives in the House who had wanted to either defund or delay it.
"This is far less than many of us hoped for, quite frankly. But it's far better than what some had sought. Now it's time for Republicans to unite behind other crucial goals."
The deal also stipulates the creation of a panel comprised of members of the House and Senate to draw up another, longer-term budget deal by December 13th, which means that this could be the beginning of another round in a long-running debate over the federal budget, and in larger terms, the size and scope of the U.S. government.
Most importantly for federal workers, the plan also provides compensation for hundreds of thousands of government employees who have been on temporary leave since October 1st.
The White House budget office said they should expect to return to work on Thursday.
Kim Ji-yeon, Arirang News.
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Could you recognize who the spokesman is in the US Congress for the conspiracy of the New World Order? Pulled by the “right strings” he will appear more and more like the model to follow for the entire US Republican Party which he will bring to destruction by splitting it in two.
He is the Maverick. The Ruffian.
Pay attention to the twisted words of John Mc Cain already written for him by someone else in Texas.
It will get interesting.
Enjoy the Show.