Luckily the US has everything else in order, which is why it can afford to shut down the government... Again. Per Bloomberg:
- HOUSE REJECTS BILL CONTAINING DISASTER RELIEF AID
- REPUBLICAN DEFECTIONS LEAD TO DEFEAT OF BUDGET BILL
- SPENDING BILL NEEDED TO FUND GOVERNMENT PAST SEPT. 30
- REPUBLICANS OBJECTED TO OVERALL COST OF SPENDING BILL
Yep, looks like it: From Reuters:
A bill that would fund the U.S. government past Sept. 30 unexpectedly failed in the House of Representatives on Wednesday as dozens of Republicans broke with party leaders and Democrats objected to a cut to an electric-vehicle program. The measure failed by a vote of 195 to 230.
From CNN: House fails to pass continuing resolution
In a major blow to the Republican leadership, the U.S. House on Wednesday defeated a temporary spending measure that would have required spending cuts to offset additional money for federal disaster relief efforts.
From Bloomberg: Republican Defections Defeat Bill Containing Disaster Relief Aid
The U.S. House rejected a bill that includes $3.65 billion in aid to victims of Hurricane Irene and other natural disasters, a setback for Republican leaders controlling the chamber.
Some Republican lawmakers objected to the measure’s overall cost and House Democrats opposed a spending cut in it, leading to the bill’s defeat.
The vote against the bill was 230-195.
The dispute raises the specter of a government shutdown because the disaster assistance is attached to a measure needed to fund the government until Nov. 18. The current fiscal year ends Sept. 30, and Congress is in recess next week.
And Bernanke hopes to pass fiscal stimulus in this climate?