to the environmental agency, greeted workers rushing after their furlough there. we should point out that they had plenty of reason to smile, because they did get that back pay. i'm hearing cheers. >> it's footage of the vice president greeting those workers. we were going to tell that we had that, thought it was just the panda cam. >> the president of the e. approximate p.a., chief of staff here at the white house, dennis mcdonough was out on executive drive, greeting returning workers here, as well, washington certainly getting back to normal. it bears repeating how long is normal and what is the new normal. this deal, you to have remind folks amid this jubilation or euphoria today is only good for four months. there's no indication that the precipice is going to change in

terms of politics. ok, and i understand that the president is being introduced right now. >> ladies and gentlemen, the president of the united states. >> last night, i signed legislation to reopen our government and pay america's bills, because democrats and responsible republicans came together, the first government shutdown in 17 years is now over. the first default in more than 200 years will not happen. these twin threats to our economy have now been lifted and i want to thank those democrats and republicans for getting together and ultimately getting this job done. now, there's been a lot of discussion lately of the politics of this shutdown. let's be clear. there are no winners here. these last few weeks have inflicted completely unnecessary damage on our economy. we don't know yet the full scope of the damage, but every away lift out there believes it

slowed our growth. we know that families have gone without paychecks or services they depend on. we know that potential homebuyers have gotten pure mortgages and small business loans have been put on hold. we know that consumers have cut back on spending, and that half of all c.e.o.'s say that the shutdown and the threat of shutdown set back their plans to hire over the next six months. just the threat of default of america not paying all the bills that we owe on time increased our borrowing costs, which adds to our deficit. of course, we know that the american people's frustration with what goes on in this town has never been higher. that's not a surprise. that the american people are completely fed up with

washington. in a moment when our economic recovery demands more jobs, more momentum, we've got yet another self-inflicted crisis that set our economy back. and for what? there was no economic rationale far all of this. over the past four years, our economy's been growing, our businesses have been creating jobs, and our deficits have been cut in half. we hear some members who pushed for the shutdown say they were doing it to save the american economy, but nothing has done more to undermine our economy these past three years than the kind of tactics that create these manufactured crises. you don't have to take my word for it. the agency that put america's credit rating on watch the other

day explicitly cited all of this, saying that our economy remains more dynamic and resilient than other advanced economies and that the only thing putting us at risk is and i'm quoting here "repeated brinksmanship." that's what the credit rating agency said. that wasn't a political statement. that was an analysis of what's hurting our economy, by people whose job it is to analyze these things. that also happens to be the view of our diplomats who have been hearing from their counterparts internationally. some of the same folks who pushed for the shutdown and threatened default claim their actions were needed to get america 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 that we've seen these past several weeks. it's encouraged our enemies, emboldened our competitors and depressed our friends who look to us for steady leadership. now, the good news is we'll bounce back from this. we always do. we are the indispensable nation that the rest of the world looks to as the safest and most reliable places to invest, something making it easier for generations of americans to invest in their own futures. we have earned that responsibility over more than two centuries, because of our economy, our entrepreneurs, productivity of our workers, but also because we keep our word and meet our obligations.

that's what full faith and credit means. you can count on us. today, i want our people and our businesses and the rest of the world to know that the full faith and credit of the united states remains unquestioned. >> we all have a lot of work to do on the behalf of the american people. and that includes the hard work of regaining their trust. our system of self-govenment doesn't function without it. and now that the government is reopening, and this threat to our economy is removed, all of us need to stop focusing on the lobbyists and the bloggers and the talking heads on radio, and the professional activists who profit from conflict and focus

on what the majority of americans sent us here to do. and that's grow this economy. create good jobs. strengthen the middle class. educate our kids. lay the foundation for broad-based prosperity and get our fiscal house in order for the long haul. that's why we're here. that should be our focus. that won't be easy. we all know that we have divided government right now. s this a lot of noise out there. the pressure from the extremes. affecting how a lot of members of congress see the day-to-day works this supposed to be done here. and let's face it, the american people don't see every issue the same way. that doesn't mean that we can't make progress. and when we disagree, we don't are to suggest that the other

side doesn't love this country or believe in free enterprise and all of the rhetoric that seems to get worse every single year. we disagree on something, we can move on and focus on the things that we agree on. and get some stuff done. let me be specific about three places where i believe we can make progress right now. first, in the coming days and weeks, we should sit down and pursue a balanced approach to a responsible budget. a budget that grows our economy faster and shrinks our long-term deficits further. at the beginning of this year, that's what both democrats and republicans committed to doing. the senate passed a budget, the house passed a budget. they're supposed to come together and negotiate.

and had one side not decided to pursue a strategy of -- each side could have gotten together and figured out how to shape a budget that provides certainty to businesses and people who rely on government, by investors in our economy, and we would be growing faster right now. the good news, the legislation i signed yesterday now requires congress to do exactly that. what it could have been doing all along. to approach this process of creating a budget as an ideological exercise. just cutting for the sake of cutting. the issue is not growth versus fiscal responsibility, we need both. we need a budget that deals with the issues that most americans are focused on. creating more good jobs that pay

better wages. and remember, the deficit is getting smaller, not bigger. it's going down faster than it has in the last 50 years. the challenge we have right now are not short-term deficits, but the long-term obligations we have around things like medicare and social security. we want to make sure those are there for future generations. so the key now is a budget that cuts out things that we don't need, closes corporate tax loopholes that don't help create jobs, and frees up resources for things that do help us grow. these historically have not been partisan. and this shouldn't be as difficult as it has been in past years, because we're spending less than we did a few years

ago. our deficits are half of what they were a few years ago. the debt problems now we have are long-term. and we can address them without short changing our kids, or short changing our grandkids, or weakening the security that current generations have earned from their hard work. so that's number one. number two, we should finish fixing the job of our -- let me say that again -- number two, we should finish the job of fixing our broken immigration system. there's already a broad coalition across america that's behind this effort of comprehensive immigration reform. from business leaders to faith leaders to law enforcement. in fact, the senate has already passed a bill with strong bipartisan support that would

make the biggest commitment to border security in our history, would modernize our legal immigration system, make sure that everybody plays by the same rules, makes sure that the folks who came here illegally have to pay a fine and back taxes and meet their responsibilities, that bill has already passed the senate. and economists estimate that if that bill passes law, our economy would be $1.4 trillion in new economic growth. the majority of americans think this is the right thing to do. and it's sitting there waiting for the house to pass it. now, if the house has ideas on how to improve the senate bill, let's hear them. let's start the negotiations. but let's not leave this problem to keep festering for another year or two years or three years. this can and should get done by the end of this year.

number three. we should pass a farm bill. one that american farmers and ranchers can depend on. one that protects vulnerable children and adults in times of need. one that gives rural communities the opportunity to grow and they deserve. again, the senate has already passed a solid bipartisan bill. it has got support from democrats and republicans. it's sitting in the house, waiting for passage. if house republicans have ideas they think would improve the farm bill, let's see them. let's negotiate. what are we waiting for? let's get this done. so passing a budget, immigration

reform, farm bill. those are three specific things that would make a huge difference in our economy right now. and we could get them done by the end of the year. year, if our focus is on what's good for the american people. and that's just the big stuff. there are all kinds of other things that we could be doing that don't get as much attention. i understand, we will not suddenly agree on everything, now that the cloud of crisis has passed. democrats and republicans are far apart in a lot of issues. and i recognize there are folks on the other side who think that my policies are misguided. that's putting it mildly. that's okay. that's democracy. that's how it works. we can debate those differences

vigorously, passionately in good faith through the normal democratic process. 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. we shouldn't fail to act on areas that we do agree or could agree, just because we don't think it's good politics. just because the extremes in our party don't like the word, compromise. whenever i can, to get important work done. there's no good reason why we can't govern responsibly, despite our differences, without

lurching from manufactured crisis to manufactured crisis. one thing that i hope all of us have learned these past few weeks, it turns out that smart, effective government is important. it matters. the american people, during the shutdown, had a chance to get some idea of all of the things, large and small, the government does that makes a difference in people's lives. we were talking about how government is the problem. well, it turns out we rely on it in a whole lot of ways. not only does it keep us strong through our military and law enforcement, it plays a vital roll in caring for our seniors, veterans, educating our kids, making sure that our workers are trained for jobs being created. arming our businesses with the

best science and technology so they can compete with companies from other countries. it plays a key role in keeping our food, our toys and our workplaces safe. it helps folks rebuild after a storm. it conserves our natural resources, it finances startups, it helps to sell our products overseas. it provides security to our diplomats abroad. so let's work together to make government work better. instead of treating it like an enemy or purposely making it work worse. that's not what the founders of this nation envisioned when they gave us the gift of self-govenment. you don't like a particular policy? or a particular president, then

argue for your position. go out there and win an election. push to change it. but don't break it. don't break what our predecessors spent over two centuries building. that's not being faithful to what this country is about. that brings me to one last point. i have a simple message for all of the dedicated and patriotic federal workers who either worked without pay, or have been forced off the job without pay these past few weeks, including most of my own staff. thank you. thank you for your service. welcome back. what you do is important. it matters. you defend our country overseas,

you deliver benefits to our troops who earned them when they come home. you guard our borders, you protect our civil rights, you help our businesses grow, you gain foot holds in overseas markets, you protect the air we breathe and the water our children drink. you push the boundaries of science and space. you have hundreds of thousands of people each day through the glories of this country. thank you. what you do is important. don't let anybody else tell you differently. especially the young people who come to this city to serve. believe that it matters. you know what? you're right, it does. those of us who have the privilege to serve this country have an obligation to do our job as best we can. we come from different parties, but we are americans first, and that's why disagreement cannot

mean dysfunction. it can't degenerate into hatred. the american people's hopes and dreams are what matters, not ours. our obligations are to them. our regard for them compels us all, democrats and republicans, to cooperate. and compromise. and act in the best interests of our nation. one nation. under god, indivisible, for liberty and justice for all. thanks very much. >> you've been listening to the president of the united states. and he has been speaking now for 20 minutes. his first major comments since his deal to open the government after 16 days and end the debt

crisis was reached last night in the united states senate, making three points. saying there are no winners here, saying what happened in washington over the last couple of weeks has slowed the economic growth. and he made a point of that. and he indicated how business in washington is done. that has to change, and if you don't like things that are happening in washington right now, don't break it. i turn to our white house correspondent, mike and he said they passed the budget farm bill. and now he said its time to get back to the business of governing. >> it's really remarkable. glad smiles and what we saw was a president channeling public anger, and it seemed that the president himself is obviously very frustrated. he hit on these themes in the

past, but never quite with such a scolding and stern manner about him. the president serious this, talking about many of the things that divide the country that are invidious and divisive, and he talked about idealogues and profiting from conflict, and yes, he talked about the economic damage done to the country, but he put it in the larger context of history which i naught was interesting and the president rising above it all and taking this moment to try to talk about what is needed for the country to stop lurching from crisis to crisis, manufactured crisis, as he emphasized time and time again. the president saying there are no winners here, and yes scolding very clearly the republican party and the idealogues in the tea party. saying that it's okay for us to disagree, but we have to do it in a way that doesn't leave the

country in lurch and if you have a problem, go out and win an election. >> the economy has been damaged and one of the things that he talked about over and over again is job creation and fixing a broken economy. did this crisis in an odd way wind up giving the white house cover for the next two quarters for a crisis that's healing and not growing? >> those affiliated in the tea party always couch it in the affordable care act is going to be the ruin of this country, and not enough of americans buy into that, and they believe its hyperbole. but the president has consistently touted the fact that deficits have been cut in half in the last five years of his administration, but the essential irony in what he says when he cites that figure, to a large degree that's the result

of the sequester in the debt ceiling two years ago, the negotiations that the president says that he swears he will never engage in. so a lot of cross currents and a lot of subtext of what the president was saying, but i was struck by the stern nature of which he said those comments and trying to be conciliatory. >> mike viqueira, the dow down 67 points as we go to break.

>> welcome back to our continuing coverage of the end of the debt crisis, and also the opening of the government. the president addressing a crowd just moments ago, saying there are no winners here. i watched it throughout. and wall street seems to be doing nothing, true? >> i'm afraid when this president speaks, the dow jones tends to go down, and you're right, it was down about 30 points, and now 67 down, 15,305. it was a very statesmanlike performance by the president, but for me, the most important line was when he talked about the full faith and credit of the united states being preserved because of this deal. because we do not know for certain what would have happen if the debt ceiling would not have been raised. but we think we know what would

have happened. we were told by to economists tt the u.s. economy would slow down, if not sees up, and the global economy could have seized up as well. so that issue that's gone away, at least for the time being, and as mike viqueira said, the problem is 3 months away, ands this the biggest problem of all. you've seen the comments in the websites this morning, 205-point rise on the dow yesterday. it was a message to washington. you should have done this weeks ago, and maybe, just maybe, the biggest problem to the u.s. economy is the elected representatives in congress. >> the good news coming out of

washington, as mike viqueira mentioned, the panda weighing 5 pounds.

>> top end the shutdown on