With government shutdown day (now in 3-D IMAX) just four days away, some are unsure what the latest developments are in the fluid and rapidly shifting landscape of Capitol Hill. For their benefit, here is a pithy but comprehensive summary of where we stand currently.
- Latest news about the debate in Washington over the U.S. federal budget and the debt ceiling:
- Senate adjourns until Monday after passing a clean stopgap spending bill to send the measure back to the House void of any language to defund Obamacare
- Senate Majority Leader Harry Reid urges House Speaker John Boehner to bring the bill as-is to the House floor for a vote
- Obama says House GOP should follow Senate’s example and act responsibly, rather than acting to appease Tea Party
- House Republicans set a noon meeting for tomorrow with vote likely tomorrow or Sunday; GOP newcomers want to push plan delaying Obamacare 1-yr and send CR back to Senate
- In case of govt shutdown, Labor Dept says it will issue jobless claims data, SEC says EDGAR system and crucial enforcement will continue, Treasury says it will operate debt programs and manage cash, USPTO says it will stay open "a few weeks"
- Commerce Dept says it won’t issue economic data in case of shutdown
Source: Bloomberg