Comment on Is the Economic Crisis Obama's 9/11?

A debate over the debt ceiling is at the center of a dispute over funding that is pushing Washington to the brink of a federal government shutdown. President-elect Donald Trump has demanded that a provision raising or suspending the nation’s debt limit—something that his own party routinely resists—be included in legislation to avert a government shutdown.

WASHINGTON — A day before a potential government shutdown, the House resoundingly rejected President-elect Donald Trump’s new plan Thursday to fund operations and suspend the debt ceiling, as Democrats and dozens of Republicans refused to accommodate his sudden demands. [time-brightcove not-tgx=”true”] In a hastily convened evening vote punctuated by angry outbursts over the self-made crisis, the lawmakers failed to reach the two-thirds threshold needed for passage—but House Speaker Mike Johnson appeared determined to reassess, before Friday’s midnight deadline. “We’re going to regroup and we will come up with another solution, so stay tuned,” Johnson said after the vote.

“I’m not just a no, I’m a hell no.” — House Minority Leader Hakeem Jeffries (D-NY), speaking to Democrats about the new Republican government funding proposal.

“Speaker Mike Johnson spent months doing everything he could to hang on to his job come January, most notably a concerted charm offensive to keep President-elect Donald J. Trump placated and in his corner. It took just a few hours on Wednesday for it to all go bad,” the New York Times reports. “The Louisiana Republican this week got a taste of what life could be like in the second Trump era beginning next month as he was mercilessly undercut on his complex year-end legislation by Mr.

“The collapse of Congress’ spending negotiations is throwing the presidential transition and preparations for President-elect Donald Trump’s second inauguration into chaos as Washington stares down the prospect of a government shutdown just after midnight Friday,” Politico reports.

House Republicans are eyeing a bill to extend government funding for three months while suspending the debt limit until January 2027, Punchbowl News reports. The legislation would also extend the farm bill, send $110 billion to disaster-stricken areas and extend a number of health care provisions. CNN reports a House vote is expected around 6 p.m.