Our latest Republican-instigated manufactured fiscal crisis is over. Finally.
From the White House, received moments ago:
On Thursday, October 17, 2013, the President signed into law:
H.R. 2775, the “Continuing Appropriations Act, 2014,” which provides fiscal year 2014 appropriations for projects and activities of the Federal Government through Wednesday, January 15, 2014. The effective time for the continuing resolution begins on October 1, 2013. H.R. 2775 also extends the Nation’s debt limit through February 7, 2014.
H.R. 2775 is now the law. That means the shutdown is over and there will be no default tomorrow. We have narrowly avoided what could have been a major, awful, terrible, horrible, no-good economic catastrophe.
Prior to the bill signing, President Obama’s budget director, Sylvia Mathews Burwell, announced that federal employees would be expected back at work on Thursday morning. “Employees should be checking the news and OPM’s website for further updates,” she said in a brief statement issued at 7:55 PM Pacific Daylight Time.
The White House later released the text of a memorandum prepared by Burwell for agency leaders and Cabinet departments. The memorandum reads as follows:
Memorandum for the heads of executive departments and agencies
FROM: Sylvia M. Burwell, Director
SUBJECT: Reopening Departments and Agencies
This memorandum follows the September 30th memorandum M-13-24, and updates the status of appropriations for Fiscal Year 2014.
Today, the President signed a continuing resolution that brings employees back to work and reopens many government functions. All employees who were on furlough due to the absence of appropriations may now return to work.
You should reopen offices in a prompt and orderly manner.
We appreciate very much your cooperation and efforts during this difficult period. Thank you and your teams for your service and your continued work on behalf of the American people under the challenging circumstances of the past few weeks.
Reopening the government won’t be simple, easy, or cheap, but at least it will begin happening as of tomorrow morning, and that is welcome news for every American family and every American business. All of the crucial public services that depend on congressional appropriations will begin functioning again.
Meanwhile, the Department of the Treasury will be able to pay our nation’s bills, at least until February, when further congressional action will be needed.
“We welcome the bipartisan action Congress is taking to resolve this crisis, re-open the government, and lift the cloud of uncertainty hanging over the economy,” said Secretary Jacob Lew in a statement released by the Department of the Treasury.
“Over two hundred and twenty-four years, the United States has established our credit as the strongest in the world. The United States is the anchor of the international financial system and the world’s reserve currency. We are the world’s largest economy with the deepest and most liquid financial markets. When risk rises, the flight to safety and to quality brings investors to U.S. markets.”
“Because of today’s efforts, we will continue to honor all of our commitments – a core American value – and preserve the full faith and credit of the United States.”