Another Budget Nightmare Avoided
Congress can now officially take their six week vacation without having to worry about another possible government shutdown. Surprisingly both sides decided to work together instead of drawing the nation into another threat of government workers and others, who are dependent on the government, fearing the worst. Budget deal officially a done deal A bipartisan budget deal, that lifts the debt ceiling and prevents the possibility of a government shutdown for two years, has been signed.
Despite numerous reports that the federal government continues to overspend, Congress decided to punt on a real cuts or reforms so they could enjoy their Summer Recess. The deal, signed Friday, limits overall agency spending to $1.37 trillion annually, PBS reports.
While the budget had across-the-aisle approval, some conservatives expressed concern that it provides two years of unchecked spending. The Senate passed the measure 67-28 Thursday after it earlier cleared the House 284-149. Most experts believe that both the Republicans and the Democrats wanted to get this issue out of the way so both parties could focus on the 2020 election cycle. Fiscal Critics argue that this is nothing more than kicking the can down the road. The danger of such economic policies, they argue, could lead to the United States defaulting on its debt commitments. If that happens, it would send the world into an economic depression that has never been seen. Do you think the debt ceiling should have been raised? Are you ok with continually spending more money?