Monday, September 12, 2011

Clock Ticks toward U.S. Government Shutdown, As Congress Begins 'Crazy' Three Weeks

Zeke Miller

The federal government's new fiscal year begins on October 1st, and Congress is nowhere near passing a new budget — meaning a shutdown is likely if lawmakers can't get their act together. While the debt deal passed in early August listed the maximum amount of government expenditures, there has been little progress on deciding how to spend that money. The House has passed just half of the 12 bills required to fund the government — while the Senate has acted on just one of them. A "continuing resolution" to temporarily fund the government is considered by many on Capitol Hill to be a necessity, even as lawmakers say they want to decrease government uncertainty.

FAA funding: After a two week shutdown in August, lawmakers passed a temporary funding measure that expires on Friday.
Transportation funding: Separate from the budget bills, this includes the extension of the nearly $700-million-per-week gas tax. It needs to get done by Sept. 30.
Disaster funding: Under the debt deal, federal disaster aid is not subject to the annual spending cap. President Obama requested $5.5 billion for next year, including $1.5 billion for Hurricane Irene clean-up. Some Republicans want offsets, setting the stage for a fight.

1 comment:

  1. QE3 printing press will take care of all of that.
    We are all going to be billionaires in the next couple years.


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