US President Barack Obama has hit out at the political turmoil that dragged his country to the brink of defaulting on its debt. He told a press briefing at the White House that he had formally ratified the 11th-hour budget deal agreed on Wednesday.
“America (is) back on the right track, to make sure we’re strong. But probably nothing has done more damage to America’s credibility in the world, our standing with other countries, than the spectacle we’ve seen these past several weeks. It’s encouraged our enemies, it’s emboldened our competitors and it’s depressed our friends, who look to us for steady leadership. America is the bedrock of the global economy for a reason. We are the indispensable nation that the rest of the world looks to as the safest and most reliable place to invest.”
Despite the president’s optimism however, American pride has taken a battering and whilst financial markets are steady for now, all eyes are on the long term fiscal plan.