Again? Yup. What to know about the overnight budget shutdown
- Author: Rogelio Becker Feb 12, 2018,
Feb 12, 2018, 0:44
"But at the same time she is part of the negotiations for this deal, and a lot of her members knew that it was the responsible thing to do to get this bill passed", House Majority Whip Steve Scalise told reporters after the vote.
Our government could cut military spending, and increase resources to help with the student debt, as well as other social programs.
The agreement raises federal budget caps for two years with the increase divided nearly equally between defense and domestic spending.
With the clock ticking toward a midnight government shutdown, Paul made himself the sole obstacle to his chamber's quick passage of legislation keeping federal agencies open.
The deal passed by a Republican-controlled Congress should also finally shatter the myth that budget deficits matter to either party, since the agreement not only exceeds the limits imposed by the Congress' own 2011 Budget Control Act, but because it will also drastically increase USA public debt, which now stands at $15 trillion (€12.26 trillion).
He argued the decision adds $400 billion to defense spending as well as non-defense expenses, which puts America at risk of adding another $1 trillion to the national debt. Pawlenty leaving Wall Street group Rand Paul calls for punishment if Congress can't reach a long-term budget deal MORE (R-Ky.) held up the vote.
February 9's deal allows for $165 billion in additional defense spending over two years, helping Trump deliver on his promise to boost the military.
Beyond $300 billion worth of increases for the military and domestic programs, the agreement adds $89 billion in overdue disaster aid for hurricane-slammed Texas, Florida and Puerto Rico, a politically charged increase in the government's borrowing cap and a grab bag of health and tax provisions. There were 73 Democrats who voted for the legislation and 67 Republicans who voted against.
"I think this has been a very useful debate", Mr Paul said shortly before the vote.
As the clock hit midnight, Office of Management and Budget Director Mick Mulvaney immediately issued an order to close non-essential government operations.
It was the government's second shutdown in three weeks, and most lawmakers were eager to avoid a big show of dysfunction in an election year. With the expiration deadline just three weeks away for the Obama-era program that allows young immigrants living in the U.S. illegally who were brought to the country as children to remain there, Democrats ultimately did what they earlier said they wouldn't: vote for a long-term budget deal that does not provide a solution for the "Dreamers".
The brief shutdown came at a sensitive time for financial markets, with world stock markets diving in the past week. Really who is to blame?
Markets barely flinched at the last shutdown in January, but that was before a dizzying sell-off that started on Jan 30 amid concerns about inflation and higher interest rates.
The deal provides funding for several healthcare programs, but doesn't include language to protect so-called dreamers, young immigrants who were brought to the country by their parents without proper documentation.
House Speaker Paul Ryan had not offered Pelosi an equivalent guarantee in the House, although he said in a speech before the vote on Friday that he would push ahead for a deal.
"We will solve this DACA problem", Ryan said just before the vote.