The first federal government shutdown in 17 years, triggered by a Republican demand to defund the Affordable Care Act on Oct. 1, cost the U.S. $24 billion in potential economic activity — equalling at least 0.6% of projected annualized fourth-quarter 2013 GDP growth, according to ratings agency Standard & Poor’s.
The government will reopen tomorrow and the debt ceiling will not be hit, thanks to House Democrats who voted tonight to pass the deal brokered by Senators Harry Reid and Mitch McConnell. A deal completed thanks to Democrats who refused to blink.
Thank you President Obama, Harry Reid and Nancy Pelosi.
