Sunday, October 1, 2023

The United States is once again under the threat of budget paralysis

The United States once again faces the danger of a political-financial impasse: Congress risks causing a paralysis of the federal State in less than two weeks, by failing to agree on a new budget.

Several competing budget bills are currently being debated in Washington, and none of them have enough votes to pass the Democratic-majority Senate and Republican-held House of Representatives.

Parliamentarians have until midnight on September 30 to reach an agreement; Otherwise, all funding for federal services will be suddenly cut.

Ministries, but also national parks, some museums and a multitude of organizations would be affected, forcing hundreds of thousands of employees into technical unemployment.

Despite strong partisan divisions, most elected officials on both sides do not want this situation, which is extremely unpopular. But several Trumpist elected officials are determined to play spoilsport, opposing every bill up for debate for the moment.

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With less than two weeks left in the fiscal year, extremist Republicans in the House of Representatives are playing with people’s lives.the White House accused in a statement Tuesday.

Repercussions of the war in Ukraine

This budget crisis could have direct repercussions on the war in Ukraine: the White House has demanded that the financial law approved by elected officials include $24 billion in military and humanitarian aid for Kiev (approximately $32 billion Canadian).

An envelope supported by Democrats and Republicans in the Senate, but radically opposed by Trumpist elected officials in the House.

I will not vote to donate a cent to the war in UkraineElected official Marjorie Taylor Greene, very close to former President Donald Trump, declared on Tuesday on X (ex-Twitter).

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Open in full screen mode

Joe Biden and the Ukrainian president in kyiv a few months ago. The White House has requested that the budget proposal include about C$32 billion for military and humanitarian aid to Ukraine. (File photo)

Photo: Ukrainian presidential press / Handout

Will his visit end the crisis? Ukrainian President Volodymyr Zelensky will travel to the US capital on Thursday for new talks with President Joe Biden about supporting Kiev against the Russian invasion.

Just as President Zelensky comes to the United States to justify the need to stand firm against Putin, Republican leaders in the House are essentially telling him: “Deal with it.”

This is the second time in just a few months that the world’s largest economy has faced the danger of a financial impasse.

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The United States already avoided a default in June after long negotiations between the Biden administration and conservatives.

A default would have been unprecedented, while the United States has already experienced several more or less prolonged periods of budget paralysis.

The winter 2018 budget paralysis, the longest to date, wreaked havoc on baggage screening at airports in the middle of the holiday season.

This time, Each week of the administration’s budget closure will cost the U.S. economy $6 billion.predicts Gregory Daco, chief economist at Ernst and Young.

Times of National
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