House Avoids Shutdown; Senate Votes Next

Wednesday, March 02, 2011

The Capitol Building, in Washington, D.C. (vgm8383/flickr)

In an effort to avoid a government shutdown, the U.S. House approved a stopgap budget on Tuesday that would buy Congress more time to approve a final budget. The Senate is expected to vote on the measure today. In a vote of 335-91, the House voted to cut $4 billion in spending in order to keep the government open until March 18. We talk with Washington correspondent Todd Zwillich about the bargaining chips being used to avoid a government shutdown.


Todd Zwillich

Produced by:

Arwa Gunja

Comments [1]

charlie from harrington park nj

Dealing with the debt without destroying the middle class.
by Charlie Kruger on Wednesday, March 2, 2011 at 5:50am

Instead of making the discussion about laying off teachers and cutting the pensions of DPW workers, why don't we institute a 3% sales tax on financial trades? We had just such a law from 1917 until 1967 (oddly coinciding with the start of the inflationary recession that made Nixon devalue the dollar) Exactly such a law is still on the books in New York State, Governor Carey suspended it during his term as a pre-emptory concession to keep Wall Street in the Empire state, yet never rescinding it. It would be a point of sale collection tax, having little effect on the citizen investor but massive impact on the incestuous industry of Hedge Funds and Commodity speculation, all of which stays confined to institutions and economic elite, also curbing the motivation of fund managers for our IRA's and 401k's to make zero-sum trades just to churn management fees. Split the proceeds 50-50 between federal and state government with a mandate that the funds cannot be used for any general purpose until debts and deficits are at zero. Just a thought.

Mar. 02 2011 05:56 AM

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