The day before the 35-day government shutdown ended, Chuck Schumer and Mitch McConnell huddled privately to figure out some way everyone could save face and end the biggest congressional crisis in years. The Senate majority leader first floated providing a pro-rated piece of wall money for President Donald Trump, which Schumer rejected. Then the minority leader tried to isolate the troubled Department of Homeland Security spending bill and fund the rest of the government, which McConnell spurned.Story Continued Below Finally, they hit upon a solution. “I said, ‘Here’s my proposal to you. Let’s do a conference committee. They are good at it, they get along, they’ve done the other six budget bills, they can do this,’” Schumer recounted in his office Thursday as a months-long funding crisis was concluding. “And he accepted. And I think that paved the way to getting this done.” When Trump first announced he was giving Congress three … [Read more...] about How Schumer and McConnell kept Trump out of the shutdown talks
Government shutdown out of the loop reddit
The US government shutdown is now on its 26th day, leaving some government laboratories that focus on weather and severe-storm forecasting in limbo. Day-to-day weather forecasting is not affected, but the shutdown could impede long-term improvements to the National Weather Service’s forecasting system, as well as scientists’ ability to model severe storms, hurricanes, and tornadoes. The US already lags behind Europe in its weather-prediction capabilities, and the shutdown is putting us further behind in the race for better forecasting. The longest government shutdown in US history has reached its 26th day. While volunteers fight trash pile-ups in national parks, airports shut down terminals for lack of TSA agents, and food-safety inspections take a hit, employees at the National Weather Service (NSW) and National Oceanic and Atmospheric Administration (NOAA) have dutifully continued to provide up-to-date weather forecasts and storm warnings. “Much of NOAA … [Read more...] about The government shutdown is putting the US further behind in a weather-forecasting race with Europe
The government shutdown has entered into its fourth week. According to economists, the shutdown will take a bite out of the US economy. JPMorgan CEO Jamie Dimon warned on Tuesday that the shutdown will hurt the US economy, citing research that showed it could even push GDP to zero. “Someone estimated that if it goes on for the whole quarter, it can reduce growth to zero,” Dimon said. JPMorgan Chase CEO Jamie Dimon on Tuesday sounded the alarm about the damage caused by the federal government shutdown. During the bank’s quarterly call with media on Tuesday, Dimon warned that the partial government shutdown, which has left 800,000 federal workers without pay, would weigh on the US economy. “Someone estimated that if it goes on for the whole quarter, it can reduce growth to zero,” Dimon told reporters. Pantheon Macroeconomics chief economist Ian Shepherdson wrote in a note to clients on Monday that US GDP could go negative if the shutdown extends … [Read more...] about Jamie Dimon warns that the government shutdown could take a massive bite out of the US economy
Delta CEO Ed Bastian says the partial U.S. government shutdown that sees no end in sight will cost the airline $25 million this month alone, reports CNBC. The reason for the loss is that fewer government contractors and employees are traveling since, well, they aren’t allowed to work. Additionally, Bastian says the airline is also facing certification delays for new aircraft because FAA inspectors are not allowed to work during the shutdown. The partial government shutdown is now the longest in U.S. history, with 800,000 government employees furloughed or working without pay. As Delta’s CEO’s comments show, however, the shutdown is having repercussions outside the realm of federal business. And airlines aren’t the only ones being affected by the shutdown–tech companies are being impacted, too. … [Read more...] about Delta’s CEO says the government shutdown is costing the airline $25 million a month
The government shutdown just became the longest on record, entering into a 23rd day on Sunday. Past government shutdowns have not typically had a meaningful impact on the stock market or economic growth, Wall Street economists and market strategists say. But a partial shutdown dragging on could delay trade talks between the US and China, and contribute to an element of uncertainty that could upset markets. The government shutdown won’t impact the stock market or the economy – until it does. That was the crux of Wall Street’s outlook this week as the partial US government shutdown over funding for President Donald Trump’s proposed wall on the southern border was on track to become its longest on record. The shutdown broke the record on Saturday, and extended to a 23rd day on Sunday. Experts say while past shutdowns have indeed had a benign impact on stocks and economic growth, risks around US-China trade talks, consumer sentiment, and the market’s … [Read more...] about The government shutdown is officially the longest ever. Here’s what Wall Street is saying about its impact on the market and the economy.