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October 16, 2013


House Passes Bill to End Standoff

Congressional Republicans "conceded defeat in their bitter budget fight with President Obama over the new health care law, agreeing to end a disruptive 16-day government shutdown and extend federal borrowing power to avert a financial default with potentially worldwide economic repercussions," the New York Times reports.

"With the Treasury Department warning that it could run out of money to pay national obligations within a day, the Senate voted overwhelmingly Wednesday evening, 81 to 18, to approve a proposal hammered out by the chamber's Republican and Democratic leaders after the House on Tuesday was unable to move forward with any resolution. The House followed suit a few hours later, voting 285 to 144, to approve the Senate plan, which would finance the government through Jan. 15 and raise the debt limit through Feb. 7."












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