The House passed a “minibus” of 2018 spending bills before leaving town for a month-long recess. Budget experts say the possibility of sequestration isn’t the only reason why the minibus has little chance of survival.
The Congressional Budget Office detailed in a new projection that the government would hit the debt limit by March 15, and Treasury would have to take extraordinary steps to keep the nation from defaulting.
House Speaker John Boehner (R-Ohio) wants to make one last budget deal before he leaves Congress at the end of the week. The two-year deal is expected to designate increases in defense spending as Overseas Contingency Operations funds, and would boost civilian agency spending as well, though not at the levels President Barack Obama requested.
Would you rather be attacked and eaten by a great white shark, a saltwater crocodile or a hungry tiger? It’s your call. The you-must-choose game is one my kids played with me when they were younger, and now federal workers get to play — or rather be pawns in — a version of that no-win game every couple of years when shutdowns are on the table.
Imagine if Washington-based politicians had run the first Christopher Columbus expedition. With the “New World” just over the horizon, a fast messenger ship arrives from Spain with startling news — the government has been shut down. The Niña, Pinta and Santa Maria are ordered to drop anchor. And do nothing.
Senate Majority Leader Mitch McConnell (R-Ky.) has promised that Congress will not shut down the government or threaten to default on the national debt. To do that, they’ll need to pass a spending bill after the August recess and then address the debt ceiling. The Bipartisan Policy Center predicts a deadline for raising the borrowing cap will fall in November or December. Steve Bell is senior director of economic policy at the Bipartisan Policy Center. He joined Tom Temin on the Federal Drive with more on the budget outlook.
Bloomberg Government’s Chris Payne and Cameron Leuthy will talk about the government shutdown and how it is affecting contracting and agency missions. October 15, 2013
Two weeks into a government shutdown that has hamstrung federal agencies and sent large sections of their employees home without pay, Congress is heading for another last-minute showdown — this time over raising the government’s borrowing authority, known as the debt ceiling.
Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell spoke by phone Sunday but failed to agree on a deal to raise the nation’s borrowing authority above the $16.7 trillion debt limit or reopen a government still shuttered on its 14th day.
On this week’s Capital Impact show, Bloomberg Government analysts discuss how the debt limit and furloughs are affecting the economy, and how a case being reviewed by the Supreme Court, could impact future elections. October 10, 2013