Tag

Spending Standoff

All articles tagged with #spending standoff

politics2 years ago

"Congressional Strategies and Lessons Learned: Navigating Government Shutdowns for National Security"

House Democrats believe that a government shutdown is inevitable, and the only question is how long it will last. While Minority Leader Hakeem Jeffries has been in contact with Kevin McCarthy, there has been no meaningful work towards a solution. Democrats are strategizing on what a bipartisan deal might look like, with the understanding that it will likely resemble what Republicans previously agreed to. The White House is pressuring McCarthy to stick to the spending deal he made with Biden, and Democrats are vocal about their disgust that the deal was breached. Both Democrats and the White House are working to ensure that Republicans bear the blame for the shutdown. There is also speculation about the possibility of removing McCarthy as speaker if he cuts a deal with Democrats, but such a deal remains unlikely.

economy2 years ago

"Rising Federal Debt: CBO Forecasts Soaring Deficits and Mounting Interest Payments"

The U.S. debt is projected to reach historic levels, reaching 181 percent of the country's economic output over the next 30 years, despite a recent spending standoff led by Republicans. The Congressional Budget Office (CBO) forecasted that the deficit will initially fall as a share of the economy by 2027 but will start growing again, reaching levels not seen since World War II by 2053. The CBO warned of significant risks to the country's long-term fiscal climate and highlighted the need for Congress to adhere to current law. The report also emphasized the challenges of balancing fiscal improvement with lawmakers' own agendas. The CBO attributed the country's fiscal woes to persistently large deficits, rising health-care and retirement costs, and the potential insolvency of Social Security and Medicare trust funds.