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October 17, 2013


Deal Averts Catastrophe But Leaves Uncertainty

The deal reached by Congress to end the government shutdown and raise the debt ceiling "averts a financial catastrophe but leaves the weakened U.S. economy facing new threats," the Washington Post reports.

"But while the bipartisan deal ends a period of disruption that has slowed the economy -- the shutdown removed more than $20 billion in direct government spending and related economic activity -- it creates new perils, setting up other economy-shaking deadlines in just a few months."

"It also does almost nothing for the country's existing economic challenges, including automatic spending cuts that are worsening the problem of high unemployment and a long-term debt challenge posed by mounting costs in health-care and retirement programs."












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