Tag: government

So Dysfunctional

Congress is patting itself on the back for something it didn’t even do.  Surprise, surprise…

It’s not exactly right to say that congressional leaders cut a deal last night. Rather, they learned that they didn’t have to cut a deal. The Federal Emergency Management Agency (FEMA) realized it could stretch its resources through the end of the week, which happens to be the end of the fiscal year (yeah, fiscal years end in September). Since Republicans and Democrats have already agreed to a baseline level of funding for the agency in the next fiscal year, there was no need to reach a deal on the funds this week. But let’s be clear about what happened here: It’s not that our legislators averted a crisis. It’s that the crisis averted itself.

via Wonkbook

POLITICO’s Morning Money

DRIVING THE DAY – Biden debt ceiling talks start up again this morning, meaning Treasury Secretary Tim Geithner’s previously scheduled appearance before House Financial Services has been postponed …Today’s Biden meeting will reportedly focus on spending caps and triggers … Senate Agriculture Committee hosts a Dodd-Frank year-later hearing at 9:30 a.m. with CFTC’s Gensler, among others, with Topic A certain to be all the delays … Latest CPI figures out this morning expected to show a gain of about 3.3 percent over last year.