House Republicans sign off on deal

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the-end

From the Chicago Tribune:

Congress gave final approval Wednesday night to a budget compromise that would temporarily reopen federal agencies and allow the Treasury to continue borrowing to pay the nation’s bills, averting the possibility of a default that could have seriously damaged the economy.

The 285-144 vote in the House followed an overwhelming vote in the Senate on the agreement negotiated by Senate Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.) to end a tense political standoff that shut down federal programs for 16 days and led to the furlough of hundreds of thousands of federal workers.

It appears to be over, until next time.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.