2020 Budget

While impeachment is the daily story that dominates each news cycle, the big story could be a potential government shutdown on November 21. The Congress and the White House agreed to pass a Continuing Resolution, (CR) to avoid a shutdown on October 1 when the new fiscal year began, but that CR expires on November 21.

The House, Senate and White House are having discussions about the pending budget deadline, and to date the reports have been positive; but the President has made clear he can't except any bill that limits his ability to continue construction of the border wall. It was wall funding that caused last year's 35 day shutdown; and with impeachment and elections facing the President a shutdown might be a handy diversion.

Impeachment

Washington and the markets seem to have accepted the fact that every day the lead story will be about impeachment, and next week the public hearings begin. On Wednesday, November 13 the US Ambassador to Ukraine, Bill Taylor, will be the leadoff witness, followed by the Trump fired Ambassador Marie Yovanocitch on Friday.

They will layout the basic Trump strategy of working to get an investigation of the Bidens and the link to military aid from the US to Ukraine. As this begins the pubic hearings it will be interesting...

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