Obama: 'No Winners' in Budget Deal
U.S. President Barack Obama says there are "no winners" in the bill reached by Congress to avoid a potential debt default and fund the government.
Speaking Thursday at the White House, Obama said the impasse that sparked a 16-day partial government shutdown "inflicted completely, unnecessary damage" on the U.S. economy.
He said the American people are "completely fed up with Washington," and it is time to earn back their trust.
Thousands of U.S. federal employees have returned to work, after Congress approved a compromise bill late Wednesday to fund the government. Obama immediately signed the bill into law.
The bill keeps the government running until at least January 15 and raises the borrowing limit to put off the risk of default until February 7. In the meantime, lawmakers will negotiate spending cuts.
Speaking Thursday at the White House, Obama said the impasse that sparked a 16-day partial government shutdown "inflicted completely, unnecessary damage" on the U.S. economy.
He said the American people are "completely fed up with Washington," and it is time to earn back their trust.
Thousands of U.S. federal employees have returned to work, after Congress approved a compromise bill late Wednesday to fund the government. Obama immediately signed the bill into law.
The bill keeps the government running until at least January 15 and raises the borrowing limit to put off the risk of default until February 7. In the meantime, lawmakers will negotiate spending cuts.
Senate Majority Leader Harry Reid, a Democrat, and his Republican colleague, Senate Minority Leader Mitch McConnell, crafted the bill a day before the government's borrowing authority expired.
If the debt ceiling was not raised, the United States would lose the authority to borrow money to keep paying its bills.
Standard & Poor's estimated the shutdown has taken $24 billion out of the economy, and the Fitch credit rating agency warned it is reviewing its AAA rating on U.S. government debt for a possible downgrade.
The government shut down on October 1 when the Senate rejected House demands to defund or delay tjhe president's health care law as part of a spending bill. Obama said he would not negotiate changes in the law until the government reopened.
House Speaker John Boehner said House Republicans fought with everything they had to force negotiations on the law, nicknamed "Obamacare." Boehner said his party will continue to push for legislative oversight and highlight perceived flaws in the plan.
If the debt ceiling was not raised, the United States would lose the authority to borrow money to keep paying its bills.
Standard & Poor's estimated the shutdown has taken $24 billion out of the economy, and the Fitch credit rating agency warned it is reviewing its AAA rating on U.S. government debt for a possible downgrade.
The government shut down on October 1 when the Senate rejected House demands to defund or delay tjhe president's health care law as part of a spending bill. Obama said he would not negotiate changes in the law until the government reopened.
House Speaker John Boehner said House Republicans fought with everything they had to force negotiations on the law, nicknamed "Obamacare." Boehner said his party will continue to push for legislative oversight and highlight perceived flaws in the plan.
Details of the Deal
- Reopens and funds the government until January 15, 2014
- Raises the debt limit until February 7, 2014
- Requires the government confirm the eligibility of people receiving federal subsidies under the Affordable Care Act
- Sets up negotiating committee to develop long term budget plan
- Provides back pay to furloughed federal workers
fuente: La Voz de América, http://www.voanews.com/content/obama-no-winners-in-budget-deal/1771622.html
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