Menu
Israel and Senegal announce end to crisis

Israel and Senegal announce end to …

​Israel will immediately ...

Statements by PM Netanyahu and US President Donald Trump

Statements by PM Netanyahu and US P…

​PM Netanyahu: I want to ...

WJC President Lauder commends Comerica for closing anti-Israel group’s bank account

WJC President Lauder commends Comer…

WJC, World Jewish Congres...

Lt. Gen. Gadi Eizenkot, Chief of the General Staff, Memorial Day Message

Lt. Gen. Gadi Eizenkot, Chief of th…

In these moments we stand...

Holocaust Martyrs' and Heroes' Remembrance Day 2017

Holocaust Martyrs' and Heroes' Reme…

​The Holocaust Martyrs' a...

University of Haifa and Rambam Hospital Unveil Partnership and Plans for Twenty-Story ‘Medical Discovery Tower’

University of Haifa and Rambam Hosp…

Strategic partnership bet...

In landmark ruling, US court allows heirs of Jewish art dealers to sue Germany for restitution

In landmark ruling, US court allows…

WJC, A district court in ...

230 Ukrainian Immigrants Arrive in Israel for Passover, Part of Effort to Rescue Embattled Jews

230 Ukrainian Immigrants Arrive in …

JERUSALEM, More than 200 ...

Ambassadors Against BDS: 2,000 gather at United Nations HQ in New York in support of Israel

Ambassadors Against BDS: 2,000 gath…

The World Jewish Congress...

Prev Next
A+ A A-

US Lawmakers Begin Work on Budget

VOA News, U.S. lawmakers are moving on from the crisis of the government shutdown to talks aimed at resolving deep budget differences between Democrats and Republicans.

A congressional panel has convened to address issues such as the size of the government and the level of federal taxation. The talks were mandated by the last-minute compromise bill that ended the federal shutdown this week.

The panel, which began its work on Thursday, is scheduled to produce some kind of compromise budget plan by December 13.


Also on Thursday, U.S. President Barack Obama stated that he felt there were "no winners" in the bill approved by Congress to fund the government and avoid a potential debt default.

Speaking at the White House, Obama said the impasse that sparked a 16-day partial government shutdown "inflicted completely unnecessary damage" on the U.S. economy.

He said the American people are "completely fed up with Washington," and that it is time to earn back their trust.

"Let us be clear, there are no winners here. The last few weeks have inflicted completely unnecessary damage on our economy. We don't know yet the full scope of the damage, but every analyst out there believed it slowed our growth. We know that families have gone without paychecks or services they depend on. We know that potential home buyers have gotten fewer mortgages and small business loans have been put on hold. We know that consumers have cut back on spending and that half of all CEOs say that the shutdown and the threat of shutdown set back their plans to hire over the next six months," said Obama.

Back to work

Thousands of U.S. federal employees returned to work after Congress approved a compromise bill late Wednesday to fund the government, which Obama immediately signed into law.

The bill keeps the government running until at least January 15 and raises the borrowing limit to put off the risk of default until February 7.

Senate Majority Leader Harry Reid, a Democrat, and his Republican colleague, Senate Minority Leader Mitch McConnell, crafted the bill a day before the government's borrowing authority expired.

If the debt ceiling was not raised, the United States would lose the authority to borrow money to keep paying its bills.

Credit rating

Standard & Poor's estimated the shutdown has taken $24 billion out of the economy while the Fitch credit rating agency warned it is reviewing its AAA rating on U.S. government debt for a possible downgrade.

The government shut down on October 1 when the Senate rejected House demands to defund or delay President Obama's health care law as part of a spending bill. The president said he would not negotiate changes in the law until the government reopened.

House Speaker John Boehner said House Republicans fought with everything they had to force negotiations on the law, nicknamed "Obamacare." Boehner said his party will continue to push for legislative oversight and highlight perceived flaws in the plan.

Leave a comment

Make sure you enter the (*) required information where indicated. HTML code is not allowed.

back to top
40% off 4 or more products. Enter code 40SPRING at checkout. Get a discount with a minimum purchase at PaulFredrick.com
Travel Deals to top Destinations. Get yours now

Sections

Jewish Traditions

About Us

Community

Cooperations

Follow Us