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December 14th, 2010
06:45 PM ET

Federal budget clash looms - again

Once again, Congress is facing intense deadline pressure to pass a budget to fund the the federal government.

Once again, Congress is facing intense deadline pressure to pass a budget to fund the the federal government.

Charles Riley
CNNMoney.com Staff Reporter

NEW YORK (CNNMoney.com) - Once again, Congress is facing intense deadline pressure to pass a budget to fund the the federal government.

A temporary budget extension was enacted earlier this month. The problem is that it will expire on Saturday at midnight, so Congress must act before then.

Last week, the House did its part. It approved a $1.1 trillion "continuing resolution" to fund the government through the end of the fiscal year next September.

The House vote was 212 to 206. Now it's the Senate's turn.

The failure to extend funding could lead to furloughs of federal employees and a sharp reduction in governmental activities.

The good news, if you can call it that, is that Congress has been at this point many times before and has usually passed at least another continuing resolution.

But things might not go so smoothly this time.

Full story on CNNMoney.com


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soundoff (One Response)
  1. J.V.Hodgson

    I dont care if its "only" $8BN ( thats another $300 to $400m interest annually) of earmarks.
    At least a lot of dems said not intersted in banning, but both Boehner and McConnel were adamant no more earmarks... now what!?
    The revised proposal from the democratic senator is best, otherwise Republicans can say we couldn't do anything for 12 months.
    Regards,
    Hodgson

    December 15, 2010 at 12:17 am |