Congressional observers are also looking for signs of how the weekend drama will affect the country's credit rating. "The rating agencies and especially Moody's are not just watching the political ping-pong lawmakers are playing with these deadlines," said Tom Kozlik, managing director, head of public policy and municipal strategy, HilltopSecurities. "The most important component is the trajectory of U.S. federal spending. The shutdown drama is a distraction from the real key issues of spending, rising debt,  and interest."

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