The China Mail - Time ticking on US deadline to avert shutdown

USD -
AED 3.672498
AFN 65.000033
ALL 80.761235
AMD 360.982284
ANG 1.789785
AOA 916.999796
ARS 1547.435951
AUD 1.426218
AWG 1.8
AZN 1.711502
BAM 1.737655
BBD 2.013789
BDT 124.482471
BGN 1.747831
BHD 0.377511
BIF 2987.543757
BMD 1
BND 1.278142
BOB 12.12307
BRL 5.452597
BSD 0.999876
BTN 94.576825
BWP 13.727633
BYN 2.983457
BYR 19600
BZD 2.010946
CAD 1.396295
CDF 2315.000375
CHF 0.817865
CLF 0.024527
CLP 965.319821
CNY 6.669803
CNH 6.66649
COP 3229.13
CRC 454.196116
CUC 1
CUP 23.996482
CVE 97.96631
CZK 21.640991
DJF 178.04787
DKK 6.66219
DOP 60.044158
DZD 136.137727
EGP 53.944098
ERN 15
ETB 164.108289
EUR 0.89128
FJD 2.243203
FKP 0.743037
GBP 0.742305
GEL 2.604999
GGP 0.743037
GHS 11.633527
GIP 0.743037
GMD 74.488904
GNF 8859.999556
GTQ 7.640777
GYD 209.490556
HKD 7.844815
HNL 26.874159
HRK 6.76901
HTG 130.993736
HUF 323.475987
IDR 18051.6
ILS 3.16671
IMP 0.743037
INR 94.45525
IQD 1515.805747
IRR 1883408.498647
ISK 121.740028
JEP 0.743037
JMD 158.490264
JOD 0.708991
JPY 158.394499
KES 129.88984
KGS 87.449305
KHR 4065.567945
KMF 440.999862
KPW 899.999961
KRW 1344.009825
KWD 0.31085
KYD 0.8332
KZT 451.907529
LAK 22510.972511
LBP 89536.844537
LKR 332.702525
LRD 169.971747
LSL 16.458322
LTL 2.95274
LVL 0.60489
LYD 6.411145
MAD 9.767223
MDL 17.932726
MGA 4516.054516
MKD 54.86112
MMK 2099.845134
MNT 3601.453525
MOP 8.0795
MRU 40.672394
MUR 46.750138
MVR 15.454973
MWK 1733.74558
MXN 18.57415
MYR 4.046102
MZN 63.910608
NAD 16.458322
NGN 1344.919545
NIO 36.791229
NOK 9.282715
NPR 151.327626
NZD 1.77647
OMR 0.384469
PAB 0.999964
PEN 3.451055
PGK 4.486835
PHP 63.009499
PKR 276.584484
PLN 3.913615
PYG 6062.867601
QAR 3.645272
RON 4.758805
RSD 104.821031
RUB 81.626861
RWF 1471.300315
SAR 3.756339
SBD 8.051718
SCR 13.753827
SDG 601.494926
SEK 9.77764
SGD 1.276798
SHP 0.745545
SLE 22.910108
SLL 20969.504398
SOS 571.481881
SRD 37.564026
STD 20697.981008
STN 21.767813
SVC 8.74869
SYP 13001.999685
SZL 16.449882
THB 33.409965
TJS 9.223662
TMT 3.51
TND 2.979992
TOP 2.40776
TRY 50.0464
TTD 6.77808
TWD 32.916898
TZS 2647.377987
UAH 45.533522
UGX 4104.696412
UYU 40.202925
UZS 11888.515735
VES 893.768974
VND 25682.5
VUV 119.655093
WST 2.783161
XAF 584.641244
XAG 0.018961
XAU 0.000242230458
XCD 2.70255
XCG 1.801979
XDR 0.707052
XOF 584.641244
XPF 105.958029
YER 236.174989
ZAR 16.3842
ZMK 9001.198566
ZMW 20.278266
ZWL 321.999592
SSP 5745.516508
MXV 2.090199
  • RYCEF

    0.4000

    19.71

    +2.03%

  • CMSC

    0.0000

    20.4

    0%

  • BTI

    0.4200

    56.05

    +0.75%

  • BP

    0.2800

    44.43

    +0.63%

  • RBGPF

    1.6000

    67

    +2.39%

  • RIO

    -0.1500

    94.41

    -0.16%

  • AZN

    -0.4300

    166.15

    -0.26%

  • GSK

    0.4600

    49.7

    +0.93%

  • BCE

    -0.4100

    20.56

    -1.99%

  • NGG

    -0.2500

    75.24

    -0.33%

  • VOD

    -0.0400

    16.58

    -0.24%

  • RELX

    -0.4500

    33.07

    -1.36%

  • BCC

    -0.5500

    76.59

    -0.72%

  • CMSD

    -0.0300

    20.27

    -0.15%

  • JRI

    -0.2500

    10.77

    -2.32%

Time ticking on US deadline to avert shutdown
Time ticking on US deadline to avert shutdown / Photo: © AFP

Time ticking on US deadline to avert shutdown

Four months after barely avoiding a catastrophic default, the world's largest economy is once again on the verge of a major fiscal crisis.

Text size:

President Joe Biden's Democrats are engaged in a bitter feud with Republican rivals in Congress over spending bills, which, if not passed into law soon, may trigger a government shutdown.

US lawmakers have until midnight on September 30 to reach an agreement, before funding for government services is due to dry up.

A shutdown would put at risk the finances of hundreds of thousands of workers at national parks, museums and other sites operating on federal funding, but it could also carry significant political risk for Biden as he runs for re-election in 2024.

House Republicans failed to support the government spending levels agreed to between Biden and Speaker Kevin McCarthy, the top Republican in Congress, that would keep government gears turning, the White House has said.

"A small group of extreme Republicans don't want to live up to the deal, so now everyone in America could be forced to pay the price," Biden said Saturday.

"It's time for Republicans to start doing the job America elected them to do."

Tensions are mounting around additional aid for Kyiv, after Ukrainian President Volodymyr Zelensky visited Congress Thursday pleading for more weapons to battle Russian forces 18 months into the war.

Both parties in the Senate support the $24 billion aid bill. But a handful of hardline Republicans in the House of Representatives are threatening to block it.

"I am not voting for one single penny to go to a war in Ukraine," congresswoman Marjorie Taylor Greene, a close ally of former president Donald Trump, said in a video posted on X, the former Twitter.

"I am America First, I work for the United States of America. I work for the American people."

Fellow House Republican Eli Crane echoed that view.

"People all over the country are so tired of funding others... We continue to spend and spend and spend, money that we don't have," he said in a video on social media.

Such bluster is putting McCarthy in a bind.

"He's in a very difficult position because the holdouts keep saying to Kevin McCarthy: 'Don't bring bipartisan bills to the floor, we don't want you to use Democrat votes to try to avert a shutdown,'" House Republican Mike Turner told ABC News Sunday talk show "This Week."

- Recurring spectacle -

The budget vote in Congress regularly turns into a standoff, with each party using the prospect of a shutdown to obtain concessions from the other -- until a solution is found at the last minute.

But this year the showdown is exacerbated by new levels of polarization on Capitol Hill.

In the Senate, debate is led by two political heavyweights, Democratic majority leader Chuck Schumer and Mitch McConnell, the Republican minority leader.

"Leader McConnell and I are both strongly for aid for Ukraine," Schumer told CNN Friday. "And I believe the majority of the members of both parties in the Senate agree with that."

If no firm agreement is reached, lawmakers could turn to a short-term funding measure, called a continuing resolution, which would offer temporary respite to lawmakers to find common ground.

The shutdown prospect comes just four months after the debt ceiling crisis, during which the United States came dangerously close to defaulting on its debt, which could have had disastrous consequences for the American economy and beyond.

As part of the deal averting default, Democrats agreed to limit certain spending in hopes the budget would be approved smoothly.

"A deal is a deal," White House Press Secretary Karine Jean-Pierre said, blaming Republicans for the risk of a "needless shutdown."

If the government were to halt operations, low-income families may not receive their food aid checks, air traffic could be disrupted and national parks could close.

Civil servants deemed "non-essential" will be asked to stay home, receiving paychecks only when the problem is resolved.

The United States has lived through four shutdowns since 1976. The longest began in late 2018, lasted five weeks and cost the American economy $3 billion, according to congressional figures.

Most lawmakers say they oppose a repeat -- but avoiding one might be difficult.

"I don't want to see a shutdown," House Republican Tony Gonzales told CBS News on Sunday. "But there is no doubt in my mind that the country is headed for a shutdown, and everyone should prepare as such."

N.Lo--ThChM