2 financial fiascos loom over federal government

Washington D.C. Bureau

Partial shutdown could begin September 30

WASHINGTON (Nexstar) — The federal government is facing 2 possible financial fiascos — a possible government shutdown and the possibility the US could default on its loans.

Although Congressional Republicans say they agree that not raising the debt limit and defaulting on US loans, they say Democratic spending is out of control and they won’t help. Democratic leaders say the GOP helped incur the debt and it is the right thing to do to raise the limit.

“The consequences for our country would be catastrophic,” Republican Sen. Mitch McConnell said — but added the GOP won’t help raise the debt limit.

“Democrats want to build a partisan future without our input, so Democrats will not get bipartisan facilitators for their purely partisan spending binge,” he said.

McConnell said Democrats can raise the debt ceiliing alone by including the measure in the budget reconciliation bill, which requires no Republican support.

To add to the government’s financial problems, the federal government is facing a partial shutdown on September 30 as agencies start to run out of money.

On Monday Democrats announced they will try to fight both problems with one bill.

“The continuing resolution that we’ll take up a government shutdown will also include a suspension of the debt limit through 2022,” New York’s Chuck Schumer said.

Democrats are trying to force Republicans to vote in favor of raising the debt limit. If not, Republicans will be blamed for a government shutdown.

There are other strings attached to the bill, Schumer said: “Provide emergency funding necessary to settle Afghan refugees and those devastated by this summer’s natural disasters.”

By including aid to states battered by hurricanes and wildfires, Democrats are hoping to provide help where it’s needed and saddle Republicans with being obstructionists.

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