House approves funding bill to avert government shutdown

WASHINGTON Thu Mar 21, 2013 11:07am EDT

(L-R) U.S. Representative Peter King (R-NY), Irish Prime Minister Enda Kenny, U.S. President Barack Obama and U.S. House Speaker John Boehner (R-OH) walk down the U.S. Capitol steps together following a St. Patrick's Day lunch in Washington, March 19, 2013. REUTERS/Jonathan Ernst

(L-R) U.S. Representative Peter King (R-NY), Irish Prime Minister Enda Kenny, U.S. President Barack Obama and U.S. House Speaker John Boehner (R-OH) walk down the U.S. Capitol steps together following a St. Patrick's Day lunch in Washington, March 19, 2013.

Credit: Reuters/Jonathan Ernst

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WASHINGTON (Reuters) - The House of Representatives on Thursday approved a Senate-passed bill to avert a government shutdown next week that also provides the military and some domestic agencies more flexibility in dealing with $85 billion in automatic spending cuts.

The stop-gap measure, which funds government agencies and discretionary programs through the September 30 end of the current fiscal year, won approval in a 318-109 vote, and now moves to President Barack Obama's Desk to be signed into law. New spending legislation was needed by March 27 to avoid a broad government shutdown.

(Reporting by David Lawder; Editing by Vicki Allen)

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Comments (6)
Harry079 wrote:
“The stop-gap measure, which funds government agencies and discretionary programs through the September 30″

As far as I know this “measure” does not address the debt limit issue which is currently about 40% of daily spending. The authority to borrow money runs out on May 17th. Congress has only dealt with the budget side of the issue and not the borrowing side.

By the way the Treasury had to borrow $253 billion in February and $61 billion so far this month just to pay the bills.

Mar 21, 2013 11:47am EDT  --  Report as abuse
flashrooster wrote:
Harry079: (I posted this earlier, but they didn’t allow it, I supposed because of the link at the end. I’ll try w/o the link.) I encourage you to consider 2 essentially relevant pieces of this complex issue:

1.) Be highly skeptical of the rhetoric you hear from the Republican leadership, the party that fed you a host of prevarications that took us to an unnecessary war that squandered 190,000 – 1,000,000 lives (4,500 of which were American soldiers) and $2.2 trillion tax payer dollars. Also, the party that governed on the belief that “deficits don’t matter,” only to turn right around and make the exact opposite argument, that nothing matters more than balancing the budget. How can they retain credibility and go to such extremes virtually overnight?

The truth is, neither of these extreme positions are accurate. Deficits DO matter, but they aren’t the most important aspect of the federal budget. The best time to tackle deficits and the debt is during times when the economy is strong. Clinton gave us a balanced budget 4 years in a row. Our government finally had it right. Why did the Republicans change it if it was working so well? That was the ideal time to keep the balanced budget in place and begin paying down the debt. Bush and the GOP did just the opposite of what they should have done. And now they want to criticize Obama even though his policies are both lowering the deficit and reviving the economy, and at a time when the economy is still very fragile. Which takes us to this next point:

2.) This article does a better job of explaining point #2 than I could: (Do a search on the following article that appeared in the Atlantic) “The Politics of Misperception, the atlantic”

Mar 21, 2013 2:44pm EDT  --  Report as abuse
Harry079 wrote:
Flashrooster:

I don’t disagree with much of what you say. I’m a numbers guy and I know that both sides are full of crapola and have been for a long long time.

I study what the Treasury takes in, borrows and spends. No matter what the continuing resolution that just passed has in it or what 2014 budget gets passed they say will do, the fact is the government can’t function without borrowing $3-4 billion a day.

In 2012 they had to borrow 40 cents for every dollar they spent. In fiscal 2013 that pace has slowed to only about 36 cents for every dollar they spend.

Both sides can chest thump all they want and they can spin the numbers any way they want but the Treasury Statements do not lie and most members of congress do.

I will go read that article now.

Mar 21, 2013 4:11pm EDT  --  Report as abuse
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