Government Shutdown

The shutdown has many Americans scared that they will loose their rights to all essential services provided by the U.S. Government.

The 11 hour budget agreement which took place on Thursday had many people anxious about what is next step for federal programs that are already in debt.

Wall Street Journal reports,Republicans signaled they would support an increase in the debt ceiling--required by law to avoid a government default--only if deep and long-term spending cuts are introduced. Democrats, in contrast, are trying to shift the fight to certain industry subsidies and proposed Republican tax cuts.

Both parties have different outlooks on the current debt concerns but came to a tentative agreement.

According to the Los Angeles Times ,The deal( on Thursday night) was not final, but the two sides have agreed on cuts of $38 billion, up from $34.5 billion being considered a day earlier, the official said, discussing the negotiations on condition of anonymity.

Americans will have to wait for the final results over the next week .

Wall Street Journal
http://online.wsj.com/article/SB10001424052748703548404576254783685679232.html
Los Angeles Times
http://articles.latimes.com/2011/apr/08/news/la-pn-shutdown-deadline-20110409

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This page contains a single entry by bess0057 published on April 7, 2011 11:19 PM.

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