US shutdown: Federal government reopens for business

President Barack Obama has signed into law a bill to re-open the government and extend the debt ceiling, just hours after the House and Senate passed the measure with broad bipartisan support.

Barack Obama said the measure would immediately restart federal programs that had been put on hold during the funding lapse.

The world reaction to the debt deal was one of relief Thursday, but there were signs the drawn-out process has undermined confidence in America’s global standing in both finance and politics. The International Monetary Fund (IMF) urged Washington to build a more stable management of U.S. finances, mindful that Wednesday night’s deal only suspends the debt limit until February 7, 2014.

Asian money markets rose after the deal, but key European markets fell in early trading, Reuters reported.

After weeks of stalemate that shuttered the government for 16 days, the standoff is finally over

The GOP-dominated House passed the measure 285-144, with 87 Republicans joining all Democrats in support. The Senate passed it 81-18. In both chambers, only Republicans voted against the measure.

Office of Management and Budget director Sylvia Mathews Burwell told federal employees to expect to return to work on Thursday morning.

Federal employees who were furloughed as a result of the shutdown will receive back pay “as soon as practicable,” according to the bill’s text.

The bill will fund the federal government through January 15 and extend the government’s borrowing power through February 7. It also calls for a congressional agreement by mid-December on a long-term budget plan.

After more than two weeks of standoff over the government shutdown, Republicans -faced with Thursday’s debt ceiling deadline – were forced to accept a deal with only minor concessions from Democrats.

-Kk5H237KuI
Diane A. Wade

Diane is a perfectionist. She enjoys searching the internet for the hottest events from around the world and writing an article about it. The details matter to her, so she makes sure the information is easy to read and understand. She likes traveling and history, especially ancient history. Being a very sociable person she has a blast having barbeque with family and friends.

Recent Posts

Spain: At Least 158 Killed In The Country’s Worst Flooding Disaster

At least 158 people have died in Spain's worst flooding disaster in generations. On October…

2 days ago

Russia Fines Google $20,000,000,000,000,000,000,000,000,000,000,000, Surpassing Global GDP

Google has been fined two undecillion (a two followed by 36 zeroes) roubles by a…

2 days ago

Financing Your Home Remodel: 7 Tips for Success

Embarking on a home remodel is an exciting journey, promising enhanced comfort, increased property value,…

2 weeks ago

Donald Trump Serves Up McDonald’s Fries While Kamala Harris Celebrates 60th Birthday with Church Choir

The US presidential candidates continued to campaign across key swing states on October 20. Footage…

2 weeks ago

America PAC: Elon Musk Promises to Award $1M Each Day to Swing States Voters

Elon Musk has said he will give away $1 million a day to a registered…

2 weeks ago

Canada Expels 6 Indian Diplomats Amid Khalistan Row

India and Canada have decided to expel their top envoys along with other diplomats as…

3 weeks ago