House Passes Budget, Averts Government Shutdown
The House has passed a huge stopgap spending bill to keep the government open through the end of September, sidestepping any threat of a government shutdown.
The House has passed a huge stopgap spending bill to keep the government open through the end of September, sidestepping any threat of a government shutdown.
Legislators show no signs they're heading toward compromise in resolving the nation's next financial crisis, with Democrats talking about further taxes hikes on the rich, and Republicans saying a crippling default on U.S. debt is possible unless they get significant cuts in government spending.
There has been a pleasant lull in reporting about the debt ceiling and budget debate, but don't let the quiet fool you. Right now, 11 men and one woman are crafting a plan to reduce the federal budget deficit by $1.5 trillion over 10 years. They are the members of the Joint Select Committee on Deficit Reduction -- aka, the Deficit Supercommittee.


