Senate Clears Hurdle on Spending Bill

By SIOBHAN HUGHES WASHINGTON—The Senate voted unanimously on Wednesday to move forward with a bill to fund federal agencies through mid-December, advancing past the first hurdle in what likely will be a contentious and deadline-driven debate over next year's federal budget. The Senate vote came after Sen. Ted Cruz (R., Texas) ended a 21-hour speech in opposition to the new federal health law. Mr. Cruz and like-minded conservatives say that no measure to fund the government in the next fiscal year should be approved unless it eliminates money for the health law. Enlarge Image image Associated Press Sen. Ted Cruz talks to reporters as he emerges from the Senate Chamber Wednesday. Related Articles Cruz Ends Speech Against Health Law Highlights of Cruz's 21-Hour Speech Cruz Eclipses Length of Paul Filibuster Long Talks: Comparing Cruz, Paul, Davis In the end, even Mr. Cruz voted to allow the Senate to begin debate on the legislation. In a complicated calculation, he had considered trying to delay the bill, even though he favors a provision in it that strips money from the health law, because Democrats have the votes to restore the money and are on track to do so in the next few days. At issue is a House-passed measure that funds the federal government through mid-December but eliminates money for the health law. Congress must approve some kind of funding mechanism by Oct. 1, the start of the new fiscal year, or the federal government will have to suspend many of its activities and services. The Democratic-controlled Senate is now expected to restore money for the federal health law and send the measure back to the Republican-led House. Senate Democrats may also shorten the time that the bill funds federal agencies so that funding expires in mid-November instead of mid-December. Some Democrats believe this will give them a better chance to pass a spending bill for the full fiscal year that restores money for scheduled budget cuts known as sequestration. "This process is all about, sadly, the Democratic majority not listening to the American people," Mr. Cruz, his tie loosened, said before Wednesday's vote as he wrapped up more than 21 hours on the Senate floor. Six days remain before the next fiscal year begins, but any Senate bill is sure to return to the House for additional action, perhaps as late as Sunday. That would leave only two days before the deadline for passing a funding measure. House Republican leaders have not said what they would do in that case. "We should get this matter back to the House as soon as we can," Senate Majority Leader Harry Reid (D., Nev.) said on the Senate floor. He complained that Republicans were intent on damaging the basic functions of government. The budget fight comes at the same time as discussion over the terms for raising the nation's debt ceiling. Treasury Secretary Jack Lew on Wednesday predicted that the U.S. would run out of extraordinary methods to avoid hitting the debt limit on Oct. 17, and would have only $30 billion in cash on hand, not enough to pay all of its bills. Republicans have said they want to attach conditions to another increase in the borrowing limit, but the Obama administration has said that the debt ceiling is not negotiable and that it is the responsibility of Congress to raise the debt level so the U.S. can make good on its obligations.

Very interesting to see a hurdle be passed but yet we are not aware if we can fund obamacare but yet we can clear a hurdle on spending, what are your thoughts on this?

Here's more on the budget debate, if you aren't tired of it yet:

http://www.nytimes.com/2013/09/26/us/politics/senate-budget-battle.html

Sen. Cruz finally finished his marathon filibuster speech--with absolutely no end result. Check out the quote below.

"Mr. Cruz’s marathon session — which began Tuesday afternoon, went straight through the night and ended at a predetermined noon deadline — did not win over senators from either party, and in fact Mr. Cruz even voted to open debate. After the vote, Senate Mike Lee, Republican of Utah and a Cruz ally, said Mr. Cruz never intended to oppose the motion to take up the bill, a position contradicted by his words and procedural motions for days before the tally.

Senator Harry Reid of Nevada, the majority leader, greeted the conclusion of Mr. Cruz’s performance by declaring it “a big waste of time."" 

Does anyone think that Congress is still pursuing this debate because they believe in their position as a matter of fact, or is this just pure ideology/political hand-wringing?

How much does it matter if the national government shuts down?

The financial markets are grappling with that question.

 Treasury Secretary Jack Lew had a chilling message yesterday: the government may have only $50 billion in cash on hand by mid-October; inflows and outflows sometimes exceed that amount every day.  This is a looming train wreck; a government shut-down, on the other hand, wouldn't affect much that's essential, and the public would hardly notice a brief shut-down.  

The problem is this:


The White House has said it won't negotiate on the issue. The GOP has no appetite for a clean raise. And the growing Democratic left will hem in The White House, preventing any possible deal. There's just no basis for a deal, nor is there one being worked out in the background.

Read more: http://www.businessinsider.com/analyst-a-genuine-crisis-is-looming-for-the-markets-due-to-the-debt-ceiling-2013-9#ixzz2fuMtBhcj

Read more: http://www.businessinsider.com/analyst-a-genuine-crisis-is-looming-for-the-markets-due-to-the-debt-ceiling-2013-9#ixzz2fuMl3uy4

ANALYST: A Genuine Crisis Is Looming For The Markets Due To The Debt Ceiling - Business Insider

Consumer Confidence Drops to Lowest Point in Four Months

Bloomberg reports that consumer confidence dropped this month to its lowest point since early summer. Of course, since consumption drives the American economy, it's vital that consumer confidence stays high and that people don't pull out their investments.

As mentioned in the article, confidence dropped from a 81.8 to a 79.7 - about a 2.6% decrease. How do you feel this translates to consumption overall, and what should the government do (if anything) to keep confidence high?

Obamacare: One blow after another - Jennifer Haberkorn and Carrie Budoff Brown - POLITICO.com

This is a longish article but if you don't know much about the mechanics and politics of Obamacare, it is a great primer.

Obamacare: One blow after another - Jennifer Haberkorn and Carrie Budoff Brown - POLITICO.com

Conservative Groups Aim to Discourage Young People from buying Health Insurance

*While it is not my week to post, I found this article extremely interesting and would like to hear other people's thoughts.

With the exchanges scheduled to open next week, young people are being highly targeted by ads related to Obamacare. Here is an article that discusses some of the negative ads that have been created. Watch these two commercials; what do you think about these videos and tactics? Does this conservative group really have the interests of young people in mind, or are they just trying to avoid "losing"?

What a Government Shutdown Means for You

If the government were to shut down, what would change in your daily life? That's what CNN asks in this article, showing ten ways that you would be affected just going about your day. Out of the posts I've done so far, I find this one the most interesting - we talked on day one about what the government does, and we don't necessarily take the time to feel the effects of everything it handles on a day-to-day basis. 

Take a minute to read the list of ten things and feel free to comment here about which ones you didn't really think about. Also, think about which ones would be most detrimental if a shutdown was sustained over a long period of time.