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Obama: ‘No winners here’

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WASHINGTON — “We’ll bounce back from this,” President Barack Obama said of what he called the damage to the economy that the partial government shutdown and threat of default caused. “America is the bedrock of the global economy for a reason … because we keep our word and we (meet ) our obligations.”

The government shutdown and threat of U.S. default before the debt ceiling was raised “inflicted completely unnecessary damage (to) our economy,” Obama said Thursday morning at the White House. He said it slowed the economy’s growth and set back employers’ plans to hire. “Just the threat of default … increased our borrowing costs, which adds to our deficit.,” he said.

[Original story, posted at 10:36 a.m.]

obama act of terror bostonMini coffee cakes from the vice president. Hugs from colleagues, along with eye-rolls about their “vacation” due to the partial government shutdown.

Federal workers were back on the job Thursday, streaming into government offices in Washington and opening national landmarks such as St. Louis’ Gateway Arch after the 16-day shutdown that ended when President Barack Obama signed a spending and debt ceiling agreement passed by Congress on Wednesday night.

The protracted brinksmanship flirted with a possible U.S. default before ending when Republicans caved to the insistence of Obama and Democrats that legislation funding the government and raising the federal borrowing limit should be free — or at least mostly free — from partisan issues and tactics.

After all the bickering and grandstanding, the billions lost and trust squandered, the result amounted to much ado about nothing.

For more on this CNN story, click here.

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  • screenshot

    Reblogged this on Screenshots News and commented:
    I only caught the tail end of Obama’s speech this morning. It has been theorized by some of the most extreme conspiracy theorists that the entire FED shutdown was done specifically for effect. I’m not sure I believe that, but Mr. Obama’s speech this morning, certainly gave the impression that he wanted Americans to get the point about how much they “need” government. There were many things said in this speech that I found kind of unnerving, knowing what kinds of opinions are floating around in the alternative news community about this recent shut-down and what might have really been happening. More on this later this morning.

  • Skip

    Where are the Republicans bragging about what the Tea Party Shutdown accomplished? Two weeks of Federal chaos by the GOP Brat pack.

    • Ted McDonald

      I’m neither “DemoCRAP” nor “RepubliCON”, and I don’t call our president “Oblammy” or “Odumbo”,……. but! …. I do know what total stupidity is………

  • Joe

    Obama is correct we're all losers especially the children or the slaves who are going to pay interest for ever with no principal in order to escape the tens of trillions of dollars of Obummer dept.

  • Ted McDonald

    Hey?…….What? …….He’s a class act, he could’ve buried the republicans for what they did…….The american people probably won’t forget, come election time….

  • Bootlegger59

    Well, one thing is certain………….oboomba is a LOSER!! He always has been and when he's done and gone out the door…….I will be there to help him out!!………..and as far away from this country as possible!
    But, who knows, our wonderful and 'informed' public, will probably put someone just like him, back into office again, to just continue all the same old things. This country is a mess, and yet, the great and 'informed' public will just go on their way, and put right back into office, the same slovenly crowd, to keep doing the same old things!!! The American public is mostly to blame for this, for they voted for these poor excuses for politicians!!