Spending deadline looms, FOMC decision week

  • Budget deadline Friday at midnight
  • What should be on last train leaving station
  • FOMC decision day Wednesday
  • Chair presser with statement of Presidential support

The clock is continuing to tick on the Friday deadline for Congress to pass a Continuing Resolution (CR) to prevent a government shutdown at midnight on Dec. 20.

When the current fiscal year ended on Oct.1, Congress put in place a CR that runs until Friday. A CR maintains spending throughout the government at the current year’s spending level.

That is a cause for concern from two vantage points.

First, there are some who believe that the government is spending too much money, and the U.S. is on a fiscal collision course with the growing debt.  These members want to cut spending, not maintain it at current levels.

The other group believes that priorities need to be changed. On the Republican side, these members want to increase defense spending. These members believe that it is urgent that the U.S. restock its arms supplies to replace the billions of dollars of arms and equipment that have been sent to Ukraine against its war with Russia. Additionally, the fall of the Assad government in Syria demonstrated that challenges to U.S. policy can quickly develop at anyplace in the world, and the...
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