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House and Senate Reach Deal, Obama Responds

UPDATED 10/17/13 12:31AM EST

WASHINGTON (AURN/AP) - Congress has passed legislation to reopen the partially-shuttered federal government and avert a potentially disastrous default on U.S. obligations, clearing the measure for President Barack Obama's promised signature.

Passage of the bill late Wednesday in the House and Senate ended a Washington-created crisis that closed much of government for 16 days. It came on the eve of the date the Treasury Department warned it would no longer be able to borrow to pay the government's bills.

The legislation was carried to passage in the House by strong support from Democrats and 87 yes votes from majority Republicans who had originally sought to use the measure to derail Obama's three-year-old health care law.

The legislation will reopen the government through Jan. 15 and permit Treasury to borrow normally through Feb. 7.

President Obama signed a measure into law reopening the federal government and averting a potential default

(AP)

 President Obama took to the podium in the Press Briefing Room Wednesday Night. The following is an excerpt from his remarks:

"I’ve said it before, I’ll say it again: I am willing to work with anybody, I am eager to work with anybody -- Democrat or Republican, House or Senate members -- on any idea that will grow our economy, create new jobs, strengthen the middle class, and get our fiscal house in order for the long term. I’ve never believed that Democrats have a monopoly on good ideas. And despite the differences over the issue of shutting down our government, I’m convinced that Democrats and Republicans can work together to make progress for America.

In fact, there are things that we know will help strengthen our economy that we could get done before this year is out. We still need to pass a law to fix our broken immigration system. We still need to pass a farm bill. And with the shutdown behind us and budget committees forming, we now have an opportunity to focus on a sensible budget that is responsible, that is fair, and that helps hardworking people all across this country."
Related Stories:
White House Reacts to Budget Deal 
Senate Leaders Reach Deal to Avert Default
Shutdown Stalemate
The Clock is Ticking Toward Default 

 





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