Government Shutdown Could Last Until Mid-January

Government shutdown

The government remains in a partial state of shutdown with no new developments expected until at least Thursday this week. The President remains locked in a stalemate with Democratic lawmakers and there is a growing belief in Washington that the Government shutdown situation could drag on beyond the new year, and into the first half of January.

President Trump Critical of Democratic Senators Over the Christmas Break

Despite President Trump saying on national television that he would be “proud” to shut down the government, he still lays the blame firmly on the shoulders of Democratic Senators. The House of Representatives approved a spending bill last week with over $5 billion available for wall funding, but this was firmly rejected in the Senate.

While both sides tell a slightly different narrative, the fact is that lawmakers were unwilling to provide the President with funding. Trump has taken to Twitter, expressing his frustration at Democratic lawmakers.

On Christmas Eve, he said that he was waiting “for the Democrats to come back and make a deal on desperately needed Border Security. At some point the Democrats not wanting to make a deal will cost our Country more money than the Border Wall we are talking about. Crazy!”

Trump has asked congress for $5 billion to fund the border wall and related security investments. As of now, the Senate has only been able to agree on $1.3 billion.

The White House even lowered the demand in the hope of reaching an agreement and ending the standstill. Vice President Mike Pence presented Senate Minority Leader Chuck Schumer with a proposal for a funding bill with $2.1 billion of wall money. This was still rejected.

Nobody Benefits from This Government Shutdown

The Rhetoric coming from Washington has been heated. While it would be easy to blame the situation on Trump’s demands, the fact is that he is asking for something that is very much a part of his national security policy, and it’s a project that would no doubt benefit America at large.

A prolonged shutdown would delay some government services including IRS filings and FHA loan applications. There are also 400,000 federal employees who will lose income while furloughed, and another 400,000 that will work unpaid until funding is allocated.

Ending the Government shutdown is in the interest of every party. The public will be watching closely to see how quickly lawmakers are able to overcome some of their differences and pass an acceptable bill that gets the Capitol moving again.

 

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The reports, research and newsletter are based on current and historical market data, as well as publicly available financial data.They are intended to be a starting point for investors. They do not provide every material fact about a company or industry, nor are they recommendations to buy or sell. The writers and the company make no warranties or representations as to the accuracy of these reports.   You should NOT rely solely upon the information or opinions read in the content. Rather, you should use the content as a starting point for doing independent research on the independent analysis and trading methods in the content. The content is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. By accessing this website you have agreed to our disclaimers and privacy policy.

 

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