Summary of Government Continuing Resolution (CR) [Deadline Friday]
X ^ | 12/18/24 | Laina Media
Posted on 12/18/2024 6:12:30 AM PST by CFW
Here's the summary of Speaker Johnson's Continuing Resolution (CR) in a thread format:
1/ Speaker Mike Johnson introduced a two-step "laddered" funding bill to avoid a government shutdown. This CR splits funding deadlines into mid-January 2024 for some agencies and early February 2024 for others, allowing time for detailed appropriations bills.
2/ The CR passed with bipartisan support, maintaining current spending levels without the deep cuts some conservatives wanted. However, it excluded spending reductions and conservative policy riders, leading to dissatisfaction among some GOP members, especially from the House Freedom Caucus.
3/ No Spending Cuts: A major point of contention, as conservatives pushed for reductions in federal spending which were not included.
4/ Lack of Border Security: Criticized by some for not incorporating measures to enhance border security, a priority for many Republicans.
5/ Exclusion of Policy Riders: Unlike previous CRs, this one did not leverage funding to push conservative policy changes, disappointing those who viewed this as an opportunity.
6/ Political Strategy: By avoiding a shutdown, Johnson's CR gives Trump a stable start, preventing political damage. However, it might miss an early chance to push Trump's policy and fiscal agenda.
7/ Legislative Opportunities: The staggered deadlines offer a window for Trump's team to prioritize and pass legislation before funding runs out, though the absence of immediate policy changes might set a tone of compromise.
8/ Public Perception: While dodging a shutdown boosts public approval, compromises on spending might be seen by Trump's base as concessions, potentially impacting his support if not counteracted by strong policy moves.
9/ Overall: The CR ensures government functionality but challenges Trump to navigate a Congress with varied priorities. He'll need to balance fiscal conservatism with pragmatic governance to fulfill his campaign promises.
Without going deeper in the budget figures and details, here's an additional summary of the budget details and breakdown in Speaker Johnson's Continuing Resolution (CR):
Funding Period: The CR extends government funding at current levels in two stages:
January 19, 2024: Funding for agencies like Veterans Affairs, Transportation, Housing and Urban Development, and Energy, along with military construction.
February 2, 2024: Funding for the rest of the government.
Total Funding: The CR maintains spending at fiscal year 2023 levels, with no adjustments for inflation or new initiatives. Specific budget figures for each department or program aren't detailed in the sources, but the bill avoids:
Spending Cuts: No reductions from the previous year's spending levels are included.
New Allocations: There are no new allocations for programs or agencies beyond what was already funded in FY 2023.
Exclusions:
No Supplemental Aid: The bill does not include supplemental funding for specific countries like Israel or Ukraine or for additional emergency needs.
No Policy Changes: There are no policy riders or changes to existing legislation, meaning no new policies or reforms related to border security, immigration, or other conservative priorities are funded or mandated.
Specific Budget Highlights:
The CR does not specify exact dollar amounts per department but ensures continuity of funding at the previous year's rate for all operations, which includes:
Defense and Non-Defense: Both areas are covered at the same level as FY 2023, with no increases or decreases.
Disaster Relief: There's no mention of additional disaster relief funding in this CR, suggesting it maintains the previous year's allocations.
This summary captures the essence of the budget's breakdown as per the CR, focusing on maintaining status quo funding without significant changes or new financial commitments. However, for more precise figures, one would typically need to refer to the full text of the appropriations bills or detailed budget documents not explicitly referenced here.
Now take a look at this. Ukraine doesn't disappoint.
Here is a summary of some key budgetary figures included in the current Continuing Resolution (CR) going through Congress:
✅ Disaster Relief: The CR includes $100.4 billion allocated for disaster aid. ❌ While the folks in Western NC are struggling.
✅ Deficit Spending: There is an addition of $330 billion in deficit spending which is noted to be unpaid for.
✅ Ukraine Assistance: It includes $12.3 billion in military and security assistance for Ukraine.
✅ Economic Assistance for Farmers: There's $10 billion set aside for economic assistance for farmers.
Other Expenditures:
~ $30 billion for agriculture losses.
~ $6 billion for nuclear submarine programs.
~ $2.5 billion for the Take It Down Act (related to financial surveillance).
~ $4 billion for Medicaid administrative adjustments.
~ $50 million for inaugural security in Washington D.C.
The CR is set to extend government funding at current levels through March 14, 2025.
Is this to tie up the hands of the Trump administration so they don't start executing their plans until then?
TOPICS: Business/Economy; Extended News; Government; Politics/Elections
KEYWORDS: congress; cr; speakerjohnson; spending
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All this as it was just reported that the United States recorded a record-high current account deficit of $310.9 billion in the third quarter of 2024, widening from the revised $275.0 billion in the previous period and exceeding market expectations of a $284 billion gap.
The goods deficit expanded to $307.2 billion from $297.2 billion, driven by increased imports of capital goods, including computer accessories, semiconductors, and electric apparatus, alongside a rise in consumer goods such as pharmaceutical products. Meanwhile, the services surplus rose to $73.7 billion from $71.9 billion, supported by higher exports of government services and computer services. The primary income deficit widened to $15.5 billion, reflecting lower direct investment earnings, though payments also declined. Lastly, the secondary income deficit increased to $61.8 billion, up from $46.0 billion, driven by higher general government transfers, particularly for international cooperation.
1 posted on 12/18/2024 6:12:30 AM PST by CFW
To: CFW
Pass the damn thing. It's the old budget with a couple new things that should be taken care of.
The alternative is stupid cuz it will produce nothing.
2 posted on 12/18/2024 6:20:51 AM PST by Sacajaweau
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