Back in business: Senate, House pass bill to avoid default

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The Senate and House have passed a bill one day shy of national default which will end the government shutdown and extend the federal debt limit ceiling.

The Senate voted 81 to 18 (see the breakdown here) and moved along a 35-page bill to the House of Representatives, where it was approved 285-144.

At approximately 9:00 EST, President Obama addressed the nation on the deal:

I’ve said it before, I’ll say it again: I am willing to work with anybody, I am eager to work with anybody — Democrat or Republican, House or Senate members — on any idea that will grow our economy, create new jobs, strengthen the middle class, and get our fiscal house in order for the long term. I’ve never believed that Democrats have a monopoly on good ideas. And despite the differences over the issue of shutting down our government, I’m convinced that Democrats and Republicans can work together to make progress for America.

You can read the full transcript here.

Reactions will continue to pour in throughout the night. The federal government is expected to be open for business tomorrow — Thursday, October 17.