US Federal Funding set to Expire December 20th. Massive CR on the way.

Here we go again. It's once again time to "kick the budgetary failure can down the road".

‘A Total Dumpster Fire’: Conservatives Furious as GOP Leadership Strikes Deal on Massive Spending Bill

Politico reported, “Congressional leaders have struck a bipartisan deal to push the government funding deadline to March 14 and deliver more than $100 billion in emergency aid for disaster relief, House Republican leaders told their conference Tuesday morning.”

Without action, the federal government faces a shutdown Friday at midnight.

The legislation could be released as early as Tuesday. House Speaker Mike Johnson has not promised the 72-hour review period before voting on it, according to two people who attended a closed-door GOP conference meeting of lawmakers, Politico said.

Outgoing Senate Majority Leader Chuck Schumer said that negotiations regarding the continuing resolution to fund the government are ongoing.

“Obviously we’re getting closer to the Dec. 20 deadline, so time is of the essence for Republicans to reach an agreement with us that we can act on quickly,” he said Tuesday morning, according to Politico.

Why is it that these days whenever the government gets close to running out of money, there's very little reporting on it and legislators wait until the very last moments to pass what seem like already negotiated CRs? Why is it that Congress can not pass a budget?

Several conservatives have expressed frustration with the process.

“It’s a total dumpster fire. I think it’s garbage,” GOP Rep. Eric Burlison of Missouri, who is a member of the conservative Freedom Caucus, said.

“Sadly, this is happening again. I think that it’s shameful that people that celebrate DOGE [Department of Government Efficiency] coming in, and yet we’re going to vote for another billion dollars to be added to the deficit. It’s ironic,” added the lawmaker, who probably meant to say trillion dollars, given the legislation would fund the entire government until March 14.

Fellow Freedom Caucus member Rep. Andy Biggs of Arizona, added, “This week we’re supposed to vote on a continuing resolution which will keep spending money out the wazoo for another three months because we can’t do an annual budget. That’s Congress’s problem.”

“The problem that goes with it, of course, is that we have a structural deficit that keeps a mounting national debt going,” he added.

Speaking of the national debt, it sure did go from $35 trillion to $36 trillion awfully quickly.

US Debt Clock

The national debt is currently over $36 trillion, with interest payments to service it in fiscal year 2024 topping $1.1 trillion, which was more than the entire Defense Department budget of approximately $825 billion.

Good news may be on the way...

DOGE, headed up by billionaires Elon Musk and Vivek Ramaswamy, has set a goal of cutting $2 trillion annually from federal spending.

a reply to: IndieA

Interest payments are going to be in the top 5 expenditures for years to come. We’ve had decades of horrible fiscal policy that are now showing the consequences.

These Bills for money need to be "DOGE" reviewed!

originally posted by: CriticalStinker
a reply to: IndieA

Interest payments are going to be in the top 5 expenditures for years to come. We’ve had decades of horrible fiscal policy that are now showing the consequences.

Especially with higher interest rates set under Biden. Perfect sabotage ☠️

The CR also includes protections for congress critters preventing the DOJ from subpoenaing their phone, email, and other records...

More information about the US fiscal situation can be found on the CRFB's website:

Upcoming Congressional Fiscal Policy Deadlines

Updated 12/18/2024: The President signed a Continuing Resolution on September 26, 2024, that runs through December 20, 2024. Lawmakers will need to pass another CR or complete appropriations by December 20 to avoid a government shutdown. Lawmakers have floated or discussed various additional items that could end up in a end of year package.

The next few years will include several predictable fiscal policy deadlines that will force congressional action. Many of the deadlines could bring additional costs if Congress acts irresponsibly, or they could present an opportunity for Congress to reduce deficits.

Appropriations Watch: FY 2025

Updated 12/18/24: On December 17, House leadership released the text of a continuing resolution to extend government funding through March 14, 2025. The bill would include over $100 billion for disaster relief, among other provisions. Government funding is currently set to expire Friday night, as the previous continuing resolution extended funding through December 20, 2024.

Previously, on September 18, the House held a vote on a continuing resolution to extend government funding through March 28, 2025. However, that measure failed by a 202-220 vote.

The Proposed Continuing Resolution

a reply to: IndieA

Why is it that these days whenever the government gets close to running out of money, there's very little reporting on it and legislators wait until the very last moments to pass what seem like already negotiated CRs? Why is it that Congress can not pass a budget?

It prevents any kind of scrutiny from the people and the public outcry it would cause.

originally posted by: xuenchen

originally posted by: CriticalStinker
a reply to: IndieA

Interest payments are going to be in the top 5 expenditures for years to come. We’ve had decades of horrible fiscal policy that are now showing the consequences.

Especially with higher interest rates set under Biden. Perfect sabotage ☠️

He did absolutely nothing to help the situation, and only added to the problem.

But a fiat currency mixed with fractional reserve banking is irresponsible to begin with.

Those interest rates should have never gotten as low as they did, and if they didn’t bring them up, we’d have run away inflation.

Keep in mind, that loaned money is creating more currency supply.

The rates are still low if you compare them to pre 2000’s.

With fiat currency, they have a purposeful target of 2%~ inflation per year to incentivize spending and investing. But reality is, politicians and society have gotten conditioned and reliant on low interest rates, and constant tax cuts without spending cuts (spending increases instead).

While cutting spending is certainly one of the ways we can help counter debt and inflation, it won’t cure the latter. Because the fed constantly prints money, one of those mechanisms is through loans.