The United States flirted suggestively this week with default but ultimately went home with a short-term solution that sets up a series of similar crises in the next few months.
This is no regrettable one-night stand: Democrats and Republicans now face a deadline for forging a broader compromise on the nation's woeful finances (Dec. 13), while government funding runs out Jan. 15 and the next debt ceiling fight is programmed for Feb. 7. The hard-fought agreement, though widely heralded as a breakthrough, offers only a brief truce in the wars over the government's finances and Obamacare.
Thanks to the deal, the United States won't face default — at least for now. Federal workers idled by the first partial government shutdown since 1996 will get back pay. And tourists frustrated by makeshift barriers and student-art-project-caliber signs declaring popular monuments closed will get some relief. Small-business loans will start flowing again. For moms reliant on food aid, for scientistsRead More »from Shutdown deal settles nothing in the long run