WASHINGTON Takkarist McKinley Falcons Jersey , Oct. 20 (Xinhua)-- Tumultuous weeks of government shutdown and default risks proved to be costly to the U.S. economy, but the country will be resilient enough to withstand the blow, said U.S. Treasury Secretary on Sunday.
"We learned in 2011 that when you get close to the edge, it does do some damage. But we have a resilient economy. I am confident that our economy can recover," said Jacob Lew in an interview that aired Sunday on NBC's "Meet the Press".
"We did see our borrowing costs go up in the short term. We know that from the shutdown there was a loss of economic activity, " Lew said. "We need to make sure the government does not go through another round of brinkmanship. This can never happen again. "
Lew blamed some House Republicans for the stalemate that resulted in the partial government shutdown and default threat, saying "there was a faction, particularly in the House, who took control of some of the direction of this debate."
He also noted that the deep spending cuts that are part of sequestration are holding back the economy. "The President has made clear that we think you should replace some of the sequestration cuts with sensible, balanced entitlement and tax reforms to put us in the right direction for the future."
The Treasury Secretary added that fiscal policy would not be the only focus of Obama administration as "there is a lot that we need to do to build and grow this economy," listing infrastructure, immigration reform and farm bill as priorities.
Asked about the bumpy rollout of Obama's signature health care reform, Lew said the administration will fix technical glitches in the online health care insurance exchanges, the heart of the Obamacare project, which were launched on October 1.
House Republicans had predicted for months that Obamacare would be a "train wreck" with error-ridden online exchanges and defective design.
Lew said the real test for the insurance exchanges would come in January when the actual coverage starts for people who have enrolled by Dec. 15.
"The test is: are people getting coverage and are they getting the care that they need," said Lew. "We're confident we're going to be on track to do that."
French president Emmanuel Macron waves during an inauguration ceremony at the Elysee Palace in Paris,France, on May 14, 2017. Centrist Emmanuel Macron was sworn in as the eighth president of the French Fifth Republic in a ceremony at the Elysee Palace here on Sunday. (XinhuaChen YichenFile photo)
PARIS, June 12 (Xinhua) -- After Sunday's first round of legislative elections, French President Emmanuel Macron is seen in strong position to have a landslide majority in the lower house of parliament, clearing the way for him to implement reforms.
Figures released by the interior ministry showed Macron's movement The Republic On The Move (LREM) and its ally MoDem garnered 32.32 percent of the vote, suggesting that the novice president will be able to count on obtaining more than 400 seats.
However, fewer than half of the 47 million voters cast their ballots in the first round, the lowest level by far in a legislative election in the fifth Republic, according to official data.
Analysts attributed the record low turnout to long months of election campaigns which started with primary competition of different parties in Nov. 2016, in addition to a widespread feeling that June election would not change the situation.
Despite the expected huge win, the LREM were anxiously to mobilize their supporters to vote on June 18, to add a new triumph to the presidency victory on May 7.
Government spokesman Christophe Castaner said high abstention rate was "this election's failure."
"We must hear that. We must restore confidence. I call on all the candidates, whatever their political party, to mobilize," he told France 2 television.
"And then, it is the government's responsibility, that of the president, that of the prime minister, to restore trust in the election process," he said on Monday.
Shortly after partial results released on Sunday evening, LREM leader Catherine Barbaroux said "nothing is granted" despite the movement's good score.
"Low turnout invites us to continue our efforts more than ever. The first round is not decisive. Mobilization must continue and must be reinforced in the second round," she said.
Voter participation is crucial and one of the deciding factors for candidates vying for seats in the lower house, as they need to secure more than 50 percent of the vote to avoid a second-round ballot. Otherwise, candidates need to obtain 12.5 percent in the first round of vote to head to the runoff.
Out of more that 7,800 contenders for the race to the National Assembly, only four candidates have been elected in the first round, namely, Sylvain Maillard and Paul Molac (LREM), Stephane Demilly (UDI centrist party) and Napole Polutene (Left).
The outcome of the second round of parliamentary election is vital for Macron to strength his hand to set on ground pro-business and labor market reforms he promised.
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SAPPORO, Japan, Feb. 26 (Xinhua) -- Although the third-place finish at the 8th Asian Winter Games was not satisfying for China, the titles in snowboarding halfpipe and curling were encouraging.