Thursday, October 17, 2013

President calls for new approach after shutdown


Washington (CNN) -- The way business is done in Washington has to change to make a positive difference in the economy, President Barack Obama said Thursday as the federal government reopened for business and discussions began in Congress to reach a longer-term budget deal.
The partial government shutdown and standoff over the debt ceiling ended late Wednesday night when Congress voted on a temporary funding bill that also raised the nation's borrowing limit.
The standoff "inflicted completely unnecessary damage (to) our economy," Obama said Thursday morning at the White House. He said it slowed the economy's growth and set back employers' plans to hire. "Just the threat of default ... increased our borrowing costs, which adds to our deficit," he said.
We'll bounce back from this," he said of what he called the damage to the economy that the impasse caused. "America is the bedrock of the global economy for a reason ... because we keep our word and we (meet) our obligations."
He then called on Congress to pass a budget, approve changes to the nation's immigration laws and pass a farm bill.
Before Obama spoke, federal employees returned to work early Thursday to mini coffee cakes from the Vice President, hugs from colleagues, along with eye-rolls about their "vacation" due to the partial government shutdown.
The workers streamed into government offices in Washington, turned on lights and opened national landmarks such as St. Louis' Gateway Arch that had been closed during the 16-day shutdown.

The protracted brinksmanship flirted with a possible U.S. default before ending when Republicans caved to the insistence of Obama and Democrats that legislation funding the government and raising the federal borrowing limit should be free -- or at least mostly free -- from partisan issues and tactics.

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