In a few weeks Congress will have to agree whether to raise the debt ceiling threatening the next showdown. Yet at least the House has shown some bipartisanship.
In today's Federal Newscast, the Congressional Budget Office says the Treasury Department will run out of funds by late March unless it's raised.
Senior Correspondent Mike Causey says the G fund becomes a political football each time Congress debates raising the debt ceiling, and that makes many investors nervous.
The Treasury Department will have to take extraordinary measures, which may include borrowing from the Thrift Savings Plan's G fund, for the next few months in order to keep the federal government from defaulting on its debts.
President Donald Trump once again threatened the possibility of a government shutdown, this time over funding for the construction of a wall along the southern border.
Budget experts say it's only prudent for federal contractors to start preparing now for a possible government shutdown on Oct. 1.
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.