The Senate’s bid to fund the government next year without hiccups remained stuck in neutral Monday, as Democrats hoping to avoid a difficult vote on Iran dug in and blocked the first of a dozen 2017 spending bills for a third time.
John C. Goodman writes: On Monday, Puerto Rico missed a payment on $422 million worth of bonds. If the United States doesn’t come to the rescue, this will be only the first of many defaults to come. In all, the island has $72 billion in debt and an additional $46 billion in unfunded pension liabilities — totaling more than the country’s annual GDP. As debt…
Senate Democrats blocked the first of a dozen spending bills from advancing Thursday, mounting their second filibuster in as many days in protest of a GOP bid to disrupt President Obama’s effort to bolster his nuclear deal with Iran.
Ryan McMaken says: Every year around tax time, we’re reminded of the pain of the income tax. We’re reminded not just of the wealth that is taken, but also of all the time and energy that must be expended helping the federal government estimate just how much they should take from us this year.
Unable to pass an actual budget for the coming year, the Senate will rely on funding levels the parties agreed to last fall when it kick-starts the annual spending process with an energy-and-water bill next week, Majority Leader Mitch McConnell said Tuesday.
The Senate will likely miss the deadline for approving a federal budget, forgoing the annual blueprint that is supposed to govern all spending, and instead will write bills based on a higher dollar total than the one John A. Boehner, Ohio Republican, agreed to with President Obama last year before stepping down as House speaker.
House Speaker Paul D. Ryan said Tuesday that he still wants Congress to pass a budget this year, but a conservative rebellion has likely squelched those chances, forcing Republicans to plow ahead with the annual spending bills without the guidance of a full plan for the money.
The House Budget Committee approved a 10-year spending plan Wednesday that might still be doomed, as Republican leaders who raved about its policy goals still face objections from rank-and-file conservatives who oppose spending levels the parties agreed to last fall.
Republican leaders have agreed to stick to the higher spending levels President Obama is seeking as House Republicans released a $1.07 trillion blueprint Tuesday that is already spurring a feverish backlash among conservatives.
President Obama will submit a high-spending “wish list” budget to Congress on Tuesday for fiscal 2017, and he is already wishing someone would take it seriously.