Arab Today, arab today us senate passes budget deal to avert default
Last Updated : GMT 13:01:46
Arab Today, arab today
Arab Today, arab today

US Senate passes budget deal to avert default

Arab Today, arab today

Arab Today, arab today US Senate passes budget deal to avert default

US Senate passed a bipartisan
Washington - AFP

The US Senate passed a bipartisan, two-year budget deal early Friday that boosts federal spending by $80 billion, reduces a government shutdown threat and raises the debt ceiling through the end of Barack Obama's presidency.

The bill passed the House of Representatives on Wednesday and now goes to Obama for the formalities of his signature, although the political fallout looks set to linger on.

The measure, which passed 64 votes to 35 late into the night, provides lawmakers with some fiscal breathing room through the 2016 presidential election after years of bruising spending fights.

The plan suspends the statutory federal borrowing cap until mid-March 2017 and averts a damaging default.

It provides for a $50 billion spending increase in fiscal 2016 -- split about equally between defense and domestic programs -- and $30 billion in fiscal 2017.

It also adds $31 billion into an emergency war fund for the Pentagon, offset by tweaks to entitlement programs including Social Security.

The deal is the result of weeks of secret negotiations between the White House and Republican then-speaker John Boehner, who sought to clear the decks of any fiscal crises before his successor took the gavel.

Boehner stepped down Thursday, when congressman Paul Ryan was elected as the new speaker of the House, and the bill marked Boehner's final legislative achievement.

There was a sense of urgency to the Senate vote, which occurred hours before sunrise Friday.

The Republican-controlled Congress must raise the federal borrowing limit by November 3, or risk Washington ending up in default.

Senate Minority Leader Harry Reid praised lawmakers for coming together to pass the bill, which he said "will help prevent a government shutdown and avoid a disastrous default on our nation's obligations."

Overall, the new budget would set 2016 discretionary spending at $1.067 trillion, of which about half is for defense. The figure would rise slightly in 2017, to $1.071 trillion.

Congressional appropriators will need to decide how the funds will be divided among the vast slate of federal programs by December 11, when a stopgap spending measure expires.

- 'Unholy alliance' -

But several conservatives, including a number of candidates vying for the Republican presidential nomination, have blasted the deal as fiscal recklessness.

Critics say it marks a sell-out to the Obama administration because it busts through congressionally mandated spending caps and extends borrowing authority, while doing little to pare down the nation's $18 trillion deficit.

"Republican majorities have just given President Obama a diamond-encrusted, glow-in-the-dark AmEx card," Senator Ted Cruz, who is running for president, fumed late Thursday.

Senator Rand Paul, a rival GOP presidential contender, accused fellow Republicans and Democrats of having "come together in an unholy alliance to explode the debt."

"The left gets more welfare, the right gets more military contracts, and the taxpayer is stuck with the bill," Paul said.

Republican and Democratic lawmakers fought several battles over borrowings between 2011 and 2014 that roiled financial markets, caused an unprecedented downgrade of the country's triple-A debt rating by Standard & Poor's, and forced a partial government shutdown for 16 days in 2013.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us senate passes budget deal to avert default Arab Today, arab today us senate passes budget deal to avert default

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us senate passes budget deal to avert default Arab Today, arab today us senate passes budget deal to avert default

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Saudi witnessing a remarkable growth

GMT 09:57 2017 Saturday ,23 September

Saudi witnessing a remarkable growth
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today US-made bomb used in fatal strike

GMT 10:16 2017 Saturday ,23 September

US-made bomb used in fatal strike
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday