Ennis Daily News

Deal reached to avoid default and open government


WASHINGTON (AP) — Senate leaders announced last-minute agreement today to avert a threatened Treasury default and reopen the government after a partial, 16-day shutdown. Congress raced to pass the measure by day’s end.

The Dow Jones industrial average soared on the news that the threat of default was fading, flirting with a 200-point gain in morning trading.

“This is a time for reconciliation,” said Senate Majority Leader Harry Reid of the agreement he had forged with the GOP leader, Sen. Mitch McConnell of Kentucky.

McConnell said that with the accord, Republicans had sealed a deal to have spending in one area of the budget decline for two years in a row, adding, “we’re not going back.”

One prominent tea party lawmaker, Sen. Ted Cruz of Texas, said he would oppose the plan, but not seek to delay its passage.

 

 

Post to Twitter

Posted by on Oct 16 2013. Filed under National news. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Comments are closed

Featured Links

    Search Archive

    Search by Date
    Search by Category
    Search with Google
    Log in

     

    Copyright: All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Ennis Daily News content, including by framing or similar means, is expressly prohibited without the prior written consent of Ennis Daily News. Ennis Daily News and its logo are registered trademarks or trademarks of the Ellis County Newspapers, Inc.

    © Ellis County Newspapers, Inc. 2014