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CNN - Shutdown: What you need to know

 :: Unemployment Discussion :: The World Economy

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CNN - Shutdown: What you need to know Empty CNN - Shutdown: What you need to know

Post by Guest Sat Feb 26, 2011 1:18 pm

If Congress fails to approve a spending bill before midnight on March 4, the federal government will shut down.

Lawmakers have spent much of the past week trying to reach a compromise. One possibility is a short-term funding measure like the one proposed by House Republicans on Friday -- a move that would likely just put off the threat of a shutdown for two weeks.

Either way, the prospect remains. And so do questions about what a government shutdown would mean.

http://money.cnn.com/2011/02/26/news/economy/shutdown_faq/index.htm?section=money_latest&utm_source=twitterfeed&utm_medium=twitter

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CNN - Shutdown: What you need to know Empty Re: CNN - Shutdown: What you need to know

Post by Guest Sat Feb 26, 2011 2:06 pm

I don't see a short term CR getting passed. Senate Democrats are working on the long term CR and Republicans don't want that ... the longer they can put off passing a long-term CR, the more they can try to make it look like the Democrats are at fault for not getting spending under control.

If Democrats pass a long term CR, through September, and they slash $100 billion in spending cuts, but, for programs that Democrats agree on, it wouldn't be great news for the GOP.

And, if the Democrats brought the long term CR to the Senate floor and it had $100 billion in cuts and Republicans voted against it, that would also be bad news for the GOP. It's a double edged sword and the GOP just might see this budget-cut proposal backfire on their party.

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