WASHINGTON (AP) — The budget agreement Congress reached Wednesday cheered investors and removed the threat of a catastrophic debt default that could have triggered another recession.
Yet the temporary nature of the deal means a cloud will remain over a sluggish U.S. economy that was further slowed by the government's partial shutdown.
Political fights over taxing and spending will persist over the next few months. The risk of another government shutdown and doubts about the government's borrowing authority remain. Businesses and consumers may still spend and invest at the same cautious pace they have since the Great Recession officially ended more than four years ago.
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