Obama: Budget Impasse 'Damaged' US Credibility

President Barack Obama has said the budget stand-off "damaged" US credibility and "Americans are fed-up with Washington".

Mr Obama spoke from the White House hours after signing legislation that reopened the government following a 16-day partial shutdown and raised the nation's debt limit.

The last-minute deal offered only a temporary fix and did not resolve the fundamental issues of spending and deficits that divide Republicans and Democrats.

Mr Obama said: "Let's be clear, there are no winners here.

"The American people are completely fed-up with Washington."

The president said the shutdown and ensuing budget impasse "inflicted unnecessary damage" on the US economy and damaged America's credibility around the world.

Mr Obama sought to ensure governments and investors around the globe that the "full faith and credit of the United States remains unquestioned".

"We'll bounce back from this," he said. "We always do."

But the president said the way that business is done in Washington has to change.

With the Senate-led budget deal only allowing the government to function until January 15 and raising the debt ceiling only until February 7, members of Congress must still sit down to agree on a long-term budget blueprint.

Mr Obama called on leaders from both parties to work together not only on a budget proposal, but also on immigration reform and other lingering issues that continue to put congressional leaders at odds.

He said: "I understand we will not suddenly agree on everything now that the cloud of crisis has passed. Democrats and Republicans are far apart on a lot of issues.

"And sometimes we'll be just too far apart to forge an agreement. But that should not hold back our efforts in areas where we do agree."

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