The partisanship in the United States continues!As government shutdown approaches, congressional budget negotiations are divided over disagreements
2023-09-25 08:53:24
Financial Associated Press, September 25 (Editor Bian Chun) As time passes, and U.S. lawmakers showed little sign of progress on a key budget resolution over the weekend, the government shutdown crisis is getting closer.
The current spending bill will expire on September 30, and if Congress cannot reach an agreement on any budget plan by then, the U.S. government will shut down. House Republicans adjourned the chamber last Thursday, delaying further progress in negotiations.
Some analysts say that as partisanship continues in the United States and there are huge differences between the two parties, the possibility of a “shutdown” of the U.S. government is increasing. If the U.S. government “shuts down” again, it will have a series of impacts on the United States.
The U.S. government shutdown means that the salaries of millions of U.S. federal employees will be suspended and many government services will be interrupted. Stock market investors are also worried about the impact of the government shutdown on the fourth quarter.
Goldman Sachs recently warned that the resumption of student loan payments, an autoworker strike and a possible federal government shutdown will all lead to a decline in U.S. real gross domestic product growth in the fourth quarter.
Divides in Congress are difficult to resolve
House Speaker Kevin McCarthy is a Republican representative from California. One of his responsibilities is to unite the fragmented Republican caucus. One of the prerequisites for reaching a budget is that the Republican Party must reach a consensus so that it can be passed in the House of Representatives. After all, Republicans hold only a slim majority in the House of Representatives.
Now, a major obstacle facing McCarthy is a group of Republican hardliners in the House of Representatives who refuse to budge on further government spending cuts.
To avert a government shutdown, late Wednesday night, the Problem Solvers Caucus (composed of 64 House representatives, split evenly between Democrats and Republicans) proposed a budget framework that was supported by its members. However, this bipartisan achievement was not enough to reach agreement among the 435 members of the House of Representatives.
“I don’t know what to think,” Senate Majority Whip Dick Durbin, D-Ill., said on Sunday. He noted that the Senate had been “moving forward” in negotiating a deal, but that negotiations had been disrupted by disagreements among Republican members of Congress and “the speaker’s inability to get majority support on anything.”
“All of a sudden, we’re the bad guys because we want to balance the budget,” Rep. Tim Burchett, R-Tenn., said on a show Sunday.
Burchett is among the House Republicans who are “standing their ground.” He said he would not support a short-term bill called a “continuing resolution” that would provide an interim budget until the government can reach a longer-term agreement for the new fiscal year.
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2023-09-25 00:53:24
