Wednesday, February 2, 2011

Brace for a Government Shutdown

The likelihood of a government shutdown increased when House Republicans passed a resolution calling for approximately $60 billion in cuts to non-defense spending for the balance of the FY 2011. Approved primarily along party lines just before the president delivered his State of the Union address, the resolution underscores the commitment of House Republicans to reduce federal spending.The resolution (H. Res. 38) establishes the starting point for Republican negotiations with the White House and Democrats in funding the federal government for the remainder of the current fiscal year. Given the two other fiscal issues to be debated this year – increasing the federal debt limit and passage of a FY 2012 budget – how funding for FY2011 is resolved will impact the debate on the other two issues....

 
Design by Wordpress Theme | Bloggerized by Free Blogger Templates | JCPenney Coupons