What do you get?
Another 24 billion dollars in debt.
Just hours away from default, on the night of October 16 Congress voted to end government shutdown, raising the debt ceiling until Feb. 7, 2014.
President Obama signed the bill into law shortly after. “(W)e will begin reopening the government immediately,” he said prior to signing, “and we can begin to lift this cloud of uncertainty and unease from our businesses and the American people.”
Earlier today, Standard & Poor issued gloomy statements about the shutdown’s effect on national economy.
“We believe that to date, the shutdown has shaved at least 0.6% off of annualized fourth-quarter 2013 GDP growth, or taken $24 billion out of the economy.”
Without reopening, S&P warned, “the impact of a default by the U.S. government on its debts would be devastating for markets and the economy and worse than the collapse of Lehman Brothers in 2008.”
In a radio interview this afternoon, Republican House Speaker John Boehner told Ohio’s WLW radio, “We fought the good fight. We just didn’t win.
“There’s no good reason for our members to vote ‘no,’” he said.
Boehner was one of 87 House Republicans voting to end the shutdown.
Polls conducted since it first began on October 1 found that a wide majority of the public – even a majority of registered Republican voters – held the Republican Party responsible for the shutdown. Public opinion of the Affordable Care Act, which House Republicans held as the basis for shutting down government, also improved during this period.