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Government Shutdown Averted

Government Shutdown Averted

Economist Christian Broda reports the contentious spending bill was passed by the U.S. House of Representatives preventing another government shutdown. 1.1 trillion dollars in spending was approved in spite of vigorous Democratic objections to the weakening of the Dodd-Frank financial reform which will open the door for even more corporate political donations.

There was unhappiness on the Republican side because the bill allows funds to proceed on Obama’s immigration plan.

The Dodd-Frank issue has put Nancy Pelosi and Barack Obama at odds with one another because the White House convinced enough Democrats that their support was needed to prevent an even worse agreement when the Republicans have more control.

The bill passed with 219 votes in favor with 206 opposed. 67 Republicans were against the measure because it did not prevent Obama’s immigration order but 57 Democrats voted favorably.

The bill still has to be approved by the Senate which will debate on Friday.

Passage of the spending bill will fund all government agencies to the end of September 2015 with the exception of Homeland Security which will only be funded to February 27. Denying funding to Homeland Security is how the Republicans hope to prevent millions of undocumented immigrants to legally stay in the United States under Obama’s executive order.

Overall, domestic spending will neither increase nor decrease except for the billions needed in Iraq and Syria to fight Islamic militants and in West Africa to battle the Ebola outbreak.