Thursday,  Oct. 17, 2013 • Vol. 16--No. 93 • 19 of 27

(Continued from page 18)

down NASA, the Environmental Protection Agency and the Interior Department. Critical functions of government went on as usual and most federal employees won't see their paychecks delayed, but the closure and potential default weighed on the economy and spooked the financial markets.
• There were signs early Thursday that the federal government was slowly coming back to life. "We're back from the (hash)shutdown!" the Smithsonian Institution crowed on Twitter, announcing that museums would reopen Thursday and the National Zoo in Washington on Friday.
• ___

Relief around world as US lawmakers reach agreement to avoid default, reopen government

• BEIJING (AP) -- The International Monetary Fund appealed Thursday to Washington for more stable management of the nation's finances as Asian stock markets rose after U.S. leaders agreed to avoid a debt default and end a 16-day government shutdown.
• With only hours to spare until the $16.7 trillion debt limit was reached, Congress passed and sent a waiting President Barack Obama legislation Wednesday night to allow more government borrowing and reopen public agencies.
• The debt standoff had rattled global markets and threatened the image of U.S. Treasury debt as a risk-free place for governments and investors to store trillions of dollars in reserves. Few expected a U.S. default but some investors sold Treasurys over concern about possible delayed repayment and put off buying stocks that might be exposed to an American economic downturn.
• "World heaves sigh of relief as U.S. barely averts debt default," said the Times of India newspaper in a headline.
• IMF managing director Christine Lagarde welcomed the deal but said the shaky American economy needs more stable long-term finances. The deal only permits the Treasury to borrow normally through Feb. 7 and fund the government through Jan. 15.
• ___

Cory Booker claims US Senate victory in NJ and must make a quick return to campaign trail

• NEWARK, N.J. (AP) -- Democrat Cory Booker has won a special election to represent New Jersey in the U.S. Senate through next year, but the rising political star

(Continued on page 20)

© 2013 Groton Daily Independent • To send correspondence, click here.