February 18, 2019

Shutdown Ends as Congress Approves Two-Year Spending Bill

12 February 2018, 12:41 | Devin Moran

House and Senate Pursue Spending Deals as Shutdown Looms

Rand Paul

Ryan hasn't scheduled House consideration, infuriating Democrats, but he said Friday, "We will focus on bringing that debate to this floor and finding a solution".

Healthcare stakeholders praised the passage of the bill.

The growth assumptions in Trump's budget were first reported by the Wall Street Journal. The forecast assumes the 10-year Treasury yield will average 2.6 percent this year and 3.1 percent next year before rising to 3.7 percent by early next decade, the newspaper reported. The whole mess could be settled by Friday morning, but one never knows.

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. Republicans contend that the tax cuts will fuel a spike in economic growth.

Congress passed a bipartisan budget plan in the early hours on Friday, ending a government shutdown that lasted just a few hours.

Later senators voted 71-28 to approve the deal, easily overcoming objections from fiscal conservatives who say the bill marks a return to unchecked deficit spending.

Many of his Republican colleagues are objected to his protest.

The budget bill would not replace a lapsed immigration programme known as Deferred Action for Childhood Arrivals (DACA) that afforded some 800,000 young immigrants protection from deportation and work permits.

The bill, which includes a far-reaching deal that increases spending limits for the next two years and raises the federal debt ceiling until March 2019, would break the cycle of government funding crises in time for what is set to be a bruising campaign for November's mid-term elections.

Though brief - the government had reopened before most people had arrived to work on Friday, hours after the shutdown began - the timing of the shutdown was unsafe, coming soon after another massive sell-off on U.S. markets reflecting investor nerves about the USA economy.

The federal government ended the last fiscal year with a budget deficit of $666 billion. 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.

The bill contains $165bn of additional defence spending and $131bn in domestic spending, including funding for healthcare, infrastructure and tackling the USA opioid crisis, reports Reuters news agency.

None of the added spending will be offset by budget savings elsewhere or revenue increases, relying instead on government borrowing. The deal also includes $89 billion for disaster aid for hurricane ravished Texas, Florida and Puerto Rico.

The shutdown in Washington came at a sensitive time for financial markets.

Wall Street's main stock indexes climbed more than 1 percent on February 9, giving investors some solace after a week of huge swings that shook the market out of months of calm. Paul had harsh words for his own party.

"I want people to feel uncomfortable", Paul said on the Senate floor.

House Minority Leader Nancy Pelosi said she would oppose the deal because it does not include protections for the Dreamers, young undocumented migrants brought to the United States as children.

New Orleans Congressman Cedric Richmond, the chairman of the Congressional Black Caucus, had demanded that some sort of legal status for so-called "Dreamers" - immigrants brought to the country illegally as children - be included in any spending deal. Make a donation and help pay for our journalism.

Other News

Trending Now

Makers of Rajinikanth's 2.0 divide post-production work to avoid leak
The release date of Rajinikanth's Kaala has been announced officially and the film is scheduled to release worldwide on April 27. Reportedly, the post-production of 2.0 is taking longer than expected, which explains the delay in release.

5 injured in sword attack at Indonesia church
A man with a sword allegedly slashed at church-goers as they prayed in Indonesia, injuring five people, CNN reported. He said that when the police arrived, they fired a warning shot but the attacker refused to surrender.

Speeding train mows down five wild jumbos in Assam
Train accidents, poisoning by farmers and electrocution are the main causes of elephant deaths, say forest department officials. The railway official claimed that the incident had taken place at a location where there was no notified elephant corridor.

Ron Howard Refuses to Say How Much of Han Solo He Directed
These are really great guys and you know, nobody wanted this to happen. "Yeah, I just don't want to do that". That was obviously a tall task and Howard was able to get some help from a familiar Star Wars face.

Chelsea must take collective responsibility for slump: Conte
These are not exactly desperate times but we have to bounce back with a win against West Brom on Monday. Especially in England, it's not simple.

Alexis Sanchez: Messi cried after missed penalty against Chelsea
Alexis has featured three times for Jose Mourinho's side since his January move from Arsenal, scoring once and setting up another. Barcelona face Premier League champions Chelsea in the last-16, with the first leg of the tie at Stamford Bridge on February 20.

At least 19 dead after double-decker bus crash in Hong Kong
Another 47 people were injured and taken to hospitals, including 19 in serious condition, the Hospital Authority said. Hong Kong's double-decker buses can accommodate around 140 seated and standing passengers, depending upon the model.

Tel Aviv Diary: Is This the Start of an Israeli-Iran War?
The regime said it intercepted the missiles and destroyed majority , according to SANA. Hours before leaving on Saturday, Mr.

Nine Turkish soldiers killed in action in Syria's Afrin in one day
Moayad al-Hafi, a rescue worker, said his team was hit in a double-tap strike as they were pulling bodies out in Jisreen. It added that the group's partners say 45 schools in eastern Ghouta have been attacked this year, with 11 destroyed.

Isco exit would open way for Eden Hazard arrival — Real Madrid
That is because the Bernabeu boss has claimed that he wants Isco to spend the rest of his career at the club. I trust in my team and I will do it until the end. "I'm glad you've asked me".