U.S. Credibility Undermined

The just-ended fiscal crisis undermined U.S. credibility abroad and slowed economic growth at home, President Barack Obama said Thursday.

Hours earlier, Obama signed a compromise deal passed by the House and Senate after weeks of bickering. It extended the debt ceiling until until Feb. 7 and reopened the government by approving funding only until Jan. 15, lifting what he described as the “twin threats to our economy” for now.

“There are no winners here—these last few weeks have inflicted completely unnecessary damage on our economy,” Obama said. “We don’t know yet the full scope of the damage, but every analyst out there believes it slowed our growth.”


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