POLITICS - The U.S. Financial Hostage Crises Ends, Temporary Defeat of Tea Party Radicals

"Republicans Back Down, Ending Crisis Over Shutdown and Debt Limit" by JONATHAN WEISMAN and ASHLEY PARKER, New York Times 10/16/2013

Look of defeat

Excerpt

Congressional Republicans conceded defeat on Wednesday in their bitter budget fight with President Obama over the new health care law as the House and Senate approved last-minute legislation ending a disruptive 16-day government shutdown and extending federal borrowing power to avert a financial default with potentially worldwide economic repercussions.

With the Treasury Department warning that it could run out of money to pay national obligations within a day, the Senate voted overwhelmingly on 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 fund the government through Jan. 15 and raise the debt limit through Feb. 7.

Mr. Obama signed the bill about 12:30 a.m. Thursday.

Most House Republicans opposed the bill, but 87 voted to support it.  The breakdown showed that Republican leaders were willing to violate their informal rule against advancing bills that do not have majority Republican support in order to end the shutdown.  All 198 Democrats voting supported the measure.

Finally, Boehner showed some backbone and true leadership.  Now I wonder how long he will keep his position.


"While GOP 'picked a fight that they couldn't win,' Democrats emerge reunited" PBS Newshour 10/16/2013

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SUMMARY:  What are the practical and political outcomes of the 16-day stalemate in Congress that's finally drawing to a close?  Although the GOP retained sequester spending levels, Democrats come out "energized and unified."  Judy Woodruff talks to Stuart Rothenberg of the Rothenberg Political Report and Susan Page of USA Today.

"Italy's PM Letta: 'American leadership is needed' for Europe's economic growth" PBS Newshour 10/16/2013

Excerpt

SUMMARY:  As Congress narrows in on an end to the shutdown, the rest of the world is watching their actions closely.  Judy Woodruff talks to Italian Prime Minister Enrico Letta about the importance of a U.S. budget deal on international market stability, the ongoing Euro crisis recovery and Italy's next move on immigration reform.