Government Shutdown
There is a need to pass a bill extending routine government funding after a stopgap bill expires March 27. Without an extension, a partial government shutdown would occur. Congress must pass this spending bill, called a continuing resolution or “CR,” which would continue spending after Sept. 30, 2013, the end of the 2013 fiscal year. As it stands now, the government’s legal authority to borrow more money runs out in mid-October, 2013. According to the Bipartisan Policy Center, if that date arrived on October 18, the Treasury “would be about $106 billion short of paying all bills owed between October 18 and November 15. The congressionally mandated limit on federal borrowing is currently set at $16.7 trillion. The debt limit has been raised 13 times since 2001 and has grown from about 55 percent of Gross Domestic Product in 2001 to 102 percent of GDP last year.

Trump Considers Declaring National Emergency to Build Border Wall

1/4/19
from The Wall Street Journal,
1/4/19:

President speaks at lengthy news conference after contentious talks on government shutdown with Democratic lawmakers.

President Trump said he was considering declaring a national emergency to build a southern border wall if Congress doesn’t fund it, following a Friday meeting with congressional leaders that both Mr. Trump and Democratic lawmakers described as contentious. It isn’t clear how Mr. Trump would fund a wall under that scenario, and Mr. Trump would almost certainly face legal challenges if he were to attempt such a move.

Mr. Trump, speaking to reporters in the Rose Garden following the nearly two-hour meeting, also sounded upbeat notes on the state of negotiations with Democrats over the partial government shutdown, and said high-level talks would continue this weekend. Mr. Trump said he hoped the shutdown “doesn’t go on even beyond a few more days,” but also said he told congressional leaders that the shutdown could last for months or even years if Democrats don’t agree to fund the border wall. In the meeting, House Speaker Nancy Pelosi (D., Calif.) and Senate Minority Leader Chuck Schumer (D., N.Y.) said they lobbied Mr. Trump to fully reopen the government and then return to the debate over funding a border wall, saying such a move would give relief to affected federal workers. Mr. Trump rejected that approach.

More From The Wall Street Journal (subscription required):



365 Days Page
Comment ( 0 )