Sanders: Economic damage done by Tea Party is ‘irreparable’

Sanders’ comment came after Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.) announced a deal to reopen the government and avert default, which the administration says is one day away.

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The Senate bill would end the shutdown, fund the government through Jan. 15 and raise the debt ceiling until Feb. 7. It also calls for a budget conference between the House and Senate that would have to report back by Dec. 15 and requires stricter income verification for recipients of ObamaCare subsidies.

House Republicans have said they’ll vote on the Senate bill since they failed to get enough support within its own party to advance yet another deal on Tuesday. Lawmakers hope to have the votes complete before the government defaults Thursday.

The stock market was volatile throughout the more than two-week government shutdown and several financial institutions threatened to downgrade the U.S. credit rating if the U.S. defaults on its debt.

Sanders warned that Republicans would try to keep sequestration cuts in the budget spending level during future negotiations. He said although deficit reduction is an important issue, sequestration disproportionately harms working-class families.

“What are we going to say to working-class families: ‘Guess what, we’re going to have to balance the budget on your backs,' ” Sanders said. “I know some of my colleagues want that.”