The New York Times reports that a last minute deal has been reached to reopen the Federal Government (following a shutdown that began at the start of the month) and avert a National Default. The bill, which largely mirrored negotiations occurring in the Senate recently, passed the upper chamber in the early evening, before the House passed the bill around 10 o’clock. President Obama then signed the bill just before a possible default.
The bill both suspends the debt ceiling through February and funds the government through January. Additionally, a bicameral, bipartisan budget conference committee will meet starting in December. Back pay is also included for all furloughed Federal workers. All Democratic conditions. Finally, as a token gesture to Republicans, a mere study will be made to ensure stronger income verification in Obamacare. That little detail is so insignificant that the Times article did not even bother to mention it.
I will be the first to say I am humbled by the leadership and audacity President Obama showed throughout this crisis. For the first time in his presidency, he held strong to his principles and did not bend an inch. And, I must admit, it worked out somewhat well for him. The Republican Party is in shambles, though history reminds us it reassembles somewhat easily.
Click here to read more about the local implications of this deal!