DC on vacation while budget waits for September, early look at Senate 2024

Congress is out of town for their traditional August break and the President spent last week on  summer break at his beach home in Delaware.  In my view an empty Washington led to little airtime for the Fitch downgrade, with JPM CEO seeming to capture the moment when he labeled the downgrade of US debt “ridiculous.”  I believe that, with Congress out of town, there weren’t Republican Members of the House and Senate ready to run to microphones and hail the downgrade as testimony to the need to cut spending.   

The downgrade did help to set the stage for the main Congressional battle this Fall to approve a government budget. From my days working on Capitol Hill, the Congressional summer recess gives staff the opportunity to work without their bosses in town.  Undoubtedly the top issue for staff this break is funding the US government.  Congress breaks government spending down to 12 broad categories with a bill for each group.  To date the Congress hasn’t passed one of the 12 bills.  The House narrowly approved one of the least controversial to fund military construction and veteran programs; but even that bill became controversial and the final vote was 218 to 211 with two Republicans voting with Democrats against the bill.  

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