"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."

Jonathan Weisman and Ashley Parker report for the New York Times October 16, 2013. [2]

SEE ALSO:

"Shutdown Took $24 Billion Bite Out of Economy" (CNN) [3]

"Shutdown Deal Averts Catastrophe But Leaves Economy in Peril" (Washington Post) [4]

"On to the Next Crisis: Why Congress Learned Nothing From the Shutdown" (TIME) [5]

"Senate Deal Includes Funding for Disaster Relief, And More" (E2 Wire/The Hill) [6]