What’s in the Debt-Limit Deal?

Finally, an answer.

Senate Minority Leader Mitch McConnell (R-KY) arrives at the U.S. Capitol October 16, 2013 in Washington, DC.
National Journal
Brian Resnick
Add to Briefcase
Brian Resnick
Oct. 16, 2013, 1:40 p.m.

Here they are, the stip­u­la­tions of the le­gis­la­tion that will re­open the gov­ern­ment after 16 days of back-and-forth ef­forts that went nowhere, Re­pub­lic­an in­fight­ing, hy­per­bole, and al­co­hol.

Here’s what we know Re­pub­lic­an and Demo­crat­ic sen­at­ors have agreed to:

  • Re­open the gov­ern­ment, and fund it through Jan. 15.
  • Push back the debt ceil­ing un­til Feb. 7.
  • Con­vene a con­fer­ence com­mit­tee (led by Sen­ate Budge Com­mit­tee Chair­wo­man Patty Mur­ray, D-Wash., and House Budget Com­mit­tee Chair­man Paul Ry­an, R-Wis.) to shape a longer-term budget (does this sound fa­mil­i­ar?) that would ad­dress wheth­er se­quester-level spend­ing cuts will be here to stay.
  • In a small con­ces­sion — and the only change to the health care law — Demo­crats agreed to a meas­ure to en­sure those who re­ceive sub­sidies to buy health care meet eli­gib­il­ity re­quire­ments. White House spokes­per­son Jay Car­ney as­sures that this does not amount to “ransom” and main­tains the pres­id­ent’s line that he would not ne­go­ti­ate over the debt ceil­ing.
  • Give back pay to fed­er­al work­ers fur­loughed dur­ing the shut­down.

So how have things changed in the past 16 days?

  • The gov­ern­ment has wasted mil­lions of dol­lars pay­ing its work­ers for not work­ing. 
  • S&P es­tim­ates that the shut­down de­creased GDP growth by .6 per­cent, amount­ing to $24-bil­lion bite out of the eco­nomy.
  • It will now be slightly more dif­fi­cult to scam the gov­ern­ment for health care sub­sidies.
  • A ma­jor cred­it-eval­u­ation agency has threatened to down­grade the U.S. cred­it rat­ing.
  • The GOP’s fa­vor­ab­il­ity rat­ings plummeted to a re­cord low for any party.
  • Just 5 per­cent of Amer­ic­ans thought Con­gress was do­ing a good job.
  • The tea party is as un­pop­u­lar as ever.
  • Fur­loughed work­ers drank a bunch.
What We're Following See More »
19 FACE-TO-FACE MEETINGS
Latest Count: 12 Trump Campaign Staffers Had Contact with Russians
1 days ago
THE LATEST
AT ISSUE: COMEY FIRING, SESSIONS’S RECUSAL
Mueller Seeks Documents from DOJ
3 days ago
THE LATEST

Special counsel Robert Mueller "is now demanding documents from the department overseeing his investigation." A source tells ABC News that "Mueller's investigators are keen to obtain emails related to the firing of FBI Director James Comey and the earlier decision of Attorney General Jeff Sessions to recuse himself from the entire matter."

Source:
MULVANEY SAYS PROVISION ISN’T A DEALBREAKER
Trump May Be OK with Dropping Mandate Repeal
3 days ago
THE LATEST

"President Donald Trump would not insist on including repeal of an Obama-era health insurance mandate in a bill intended to enact the biggest overhaul of the tax code since the 1980s, a senior White House aide said on Sunday. The version of tax legislation put forward by Senate Republican leaders would remove a requirement in former President Barack Obama’s signature healthcare law that taxes Americans who decline to buy health insurance."

Source:
FRANKEN JUST THE BEGINNING?
Media Devoting More Resources to Lawmakers’ Sexual Misconduct
3 days ago
THE LATEST

"Members of Congress with histories of mistreating women should be extremely nervous. Major outlets, including CNN, are dedicating substantial newsroom resources to investigating sexual harassment allegations against numerous lawmakers. A Republican source told me he's gotten calls from well-known D.C. reporters who are gathering stories about sleazy members."

Source:
STARTS LEGAL FUND FOR WH STAFF
Trump to Begin Covering His Own Legal Bills
5 days ago
THE DETAILS
×
×

Welcome to National Journal!

You are currently accessing National Journal from IP access. Please login to access this feature. If you have any questions, please contact your Dedicated Advisor.

Login