U.S. Congress ends debt impasse
Oct. 16 - U.S. Congress approves an 11th-hour deal to end the partial government shutdown and pull the world’s biggest economy back from the brink of a historic debt default. Deborah Lutterbeck reports.
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By a vote of 285 to 144 the U.S. House of Representatives approved a deal to end a political crisis that partially shut down the federal government, and brought the world's biggest economy to the edge of a debt default. Earlier the Senate passed the measure on a 81-18 vote President Barack Obama says the government will be back in business immediately. SOUNDBITE: U.S. PRESIDENT BARACK OBAMA SAYING: "Once this agreement arrives on my desk I will sign it immediately. We will begin reopening our government immediately, and we can begin to lift this cloud of uncertainty and unease from our businesses and the American people." The deal offers only a temporary fix. It funds the government until January 15, and raises the debt ceiling until February 7, so Americans face the possibility of another government shutdown early next year. Obama said he plans to speak about a path ahead on fiscal issues Thursday.