Shutdown vs. Default: The Relative Impact
By ANNIE LOWREY, NYT
At the moment, Congress is figuring out how to avoid two forms of chaos of its own making: a government shutdown and a public default.
The former might happen when the continuing resolution financing the federal government expires on Sept. 30. The latter might happen when the Treasury runs out of room under its statutory debt ceiling. That day — often called the X-date — is likely to come around Oct. 15.
In the past few weeks, we’ve heard lots of talk from Republicans and Democrats about who wants to stake what on which deadline. On Friday the House passed a bill that would continue funding the government while also defunding the Affordable Care Act. Some Republicans want to tie cuts to entitlement programs or a delay of the health coverage expansion to the debt ceiling. The White House has indicated its willingness to negotiate over government spending, but not over the debt limit.
(More here.)
At the moment, Congress is figuring out how to avoid two forms of chaos of its own making: a government shutdown and a public default.
The former might happen when the continuing resolution financing the federal government expires on Sept. 30. The latter might happen when the Treasury runs out of room under its statutory debt ceiling. That day — often called the X-date — is likely to come around Oct. 15.
In the past few weeks, we’ve heard lots of talk from Republicans and Democrats about who wants to stake what on which deadline. On Friday the House passed a bill that would continue funding the government while also defunding the Affordable Care Act. Some Republicans want to tie cuts to entitlement programs or a delay of the health coverage expansion to the debt ceiling. The White House has indicated its willingness to negotiate over government spending, but not over the debt limit.
(More here.)
Powered by Blogger
0 Comments:
Post a Comment
<< Home