The fiscal year is quickly coming to an end and Congress is still trying to hash out a plan to fund the government come October 1. As of Tuesday afternoon, the Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell said that they would wait for the House of Representatives to send them a continuing resolution—a piece of legislation that provides funds when the normal appropriations bill is not passed. On Wednesday, the House Majority leadership announced that it would sponsor a continuing resolution that defunded Obamacare, which would pass their chamber but which faces extremely long odds in the Senate, since the Democrats are not willing to hamstring their signature accomplishment of the past few decades. Furthermore, Republicans and Democrats are divided on how much to spend for 2014. Despite these new statements from House and Senate leadership, Congress is not really any closer to funding the government than it was before.
National Journal: Senate’s (Public) Fiscal-Fight Strategy is to Wait on the House
The Hill: House Republicans Going Ahead with Bill to Defund Obamacare
Roll Call: Boehner Puts Obamacare Defunding in the CR
National Review Online: House to Vote on Defunding Obamacare
Washington’s continuing budget fights are particularly difficult to resolve because many economists warn that the Federal deficit and debt are unsustainable. The Congressional Budget Office recently released a report that has projected the deficit could grow substantially over the next few decades.
Wall Street Journal Market Watch: U.S. on “Unsustainable” Budget Course: CBO