Captain's Quarters

[JD400]

No Government Shutdown, Just More Favors Spread Around

by
Mike Mish Shedlock
11 mins

A government shutdown will be averted once again. The cost is a bunch of goodies spread around to buy enough votes.

Once again, and as expected by any thinking person, we are on track to avoid a fiscal shutdown.

How?

The Spending Deal in the works sloshes enough money around to make enough people happy.

$1.57 billion for border security, including fencing.
$2.8 billion increase for opioid addiction treatment, prevention and research.
$10 billion in new infrastructure funding including $600 million for new high-speed broadband development.
$307 million more than Trump asked for to combat potential Russian cyberattacks during the U.S. midterm elections. Another $380 million for states to secure their election systems.
A $1.34 billion increase for the Census to help prepare for the 2020 survey.
Makes a rail tunnel under the Hudson River that’s a priority of Senate Minority Leader Charles Schumer, a New York Democrat, eligible for funding. Leaders have agreed to include $540 million in the bill that could be used to fund a portion of the Gateway project, Politico said.
So-called sanctuary cities criticized by Trump won’t be defunded. The bill also doesn’t address the Deferred Action for Childhood Arrivals program, or DACA.

Spread enough favors around and eventually you reach agreement. It's the way the system works and it's why deficits keep getting bigger and bigger.

The House is schedule to vote on the Bill Thursday. To avoid a shutdown, the Senate needs to approve the bill by Saturday.

Should a mistake happen, it will quickly be resolved next week by spreading a few more pet projects around.

Mike "Mish" Shedlock


https://www.themaven.net/mishtalk/economics/no-government-shutdown-just-more-favors-spread-around-2MAg3VCnXEq4QFhsln5ioA