Obama Signs Bill to End Shutdown, Avert Possible Default

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President Barack Obama signed a budget bill that ended a 16-day government shutdown and avoided a possible U.S. default.

The president signed the bill early Thursday morning after it passed the U.S. House of Representatives and Senate on Wednesday evening.


Sen. Harry Reid, left, and Sen. Mitch McConnell announced the deal Wednesday on the Senate floor. (credit: CNN)

Thursday is the deadline for increasing the federal borrowing limit or risk the first default in American history.

Such quick congressional action on a measure announced earlier in the day was in stark contrast to the protracted brinksmanship of recent weeks that led to the shutdown and brought the threat of default.

The measure represented a victory for Obama and Democrats over conservative Republicans who tried to use the shutdown and debt ceiling deadline to wring concessions on spending cuts and dismantling the Obama’s signature health care reforms.

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