US Government Open For Business After Deal

Written By Unknown on Kamis, 17 Oktober 2013 | 16.15

The US government has reopened its doors after Congress passed a last-minute deal to end the shutdown and pull the world's biggest economy back from the brink of default.

Barack Obama signed the bill after the Senate and the House approved the measure with bipartisan support following weeks of political brinkmanship.

"There's a lot of work ahead of us. We need to earn back the trust of the American people that's been lost over the past few weeks," the president said.

The White House directed all agencies to reopen promptly and in an orderly fashion. Furloughed federal employees across the country are returning to work.

The impasse had shuttered national parks and monuments, and mostly closed down Nasa, the Environmental Protection Agency and the Interior Department. It had forced some 800,000 federal workers to take unpaid leave.

The closure and potential default weighed on the economy and spooked the financial markets.

House Speaker John Boehner "We fought the good fight, we just didn't win," said John Boehner

Standard & Poor's estimated the shutdown has taken $24bn out of the economy, and the Fitch credit rating agency warned Tuesday that it was reviewing its AAA rating on US government debt for a possible downgrade.

There were signs early Thursday that the federal government was slowly coming back to life.

"We're back from the #shutdown!" the Smithsonian Institution crowed on Twitter, announcing that museums would reopen today and the National Zoo in Washington on Friday.

Yosemite National Park, one of the most popular national attractions, reopened to visitors immediately after the deal on Wednesday night.

The agreement was brokered by the Senate's top Democrat, Majority Leader Harry Reid of Nevada, and its Republican leader, Mitch McConnell of Kentucky. They stepped in after the House was unable to coalesce around a Republican-only approach on Tuesday.

The down-to-the-wire deal, however, offers only a temporary fix and does not resolve the fundamental issues of spending and deficits that divide Republicans and Democrats.

Man with megaphone announces closure of Statue of Liberty, a U.S. National Park, due to U.S. Government shutdown to tourists at the ferry dock in Battery Park in New York The shutdown began on October 1

It funds the government until January 15 and raises the debt ceiling until February 7, so Americans face the possibility of another bitter budget fight and another government shutdown early next year.

Democrats and Republicans must sit down to agree a long-term budget blueprint by December 13 under the agreement.

"Hopefully next time it won't be in the 11th hour. We've got to get out of the habit of governing by crisis," said the president, seen by most observers as outmanoeuvring Republican who had tried to de-fund his health care law.

GOP House speaker John Boehner said: "We fought the good fight, we just didn't win."

The agreement sent the stock market soaring on Wednesday, pushing the Standard & Poor's 500 index close to a record high.

Most traders had expected some sort of deal, given that a failure to reach a deal could have pushed the US into another recession.


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