Government Shutdown Looms Amid Clash Over “Dreamers” Fate
by Tyler Durden
ZeroHedge.com
Dec 5, 2017
In an announcement that will provide some measure of relief for T-bill traders and others who are skeptical about Republican lawmakers’ ability to compromise with their Democratic colleagues, the Republican House leadership said Tuesday they would bring a stopgap bill to extend funding at its current levels – and preserve funding for a popular child health-care program – until Dec. 22. Otherwise, the current continuing resolution would expire on Friday, tilting the federal government into its first shutdown since 2013.
The compromise leaves much to be desired, however, and a workable, long-term spending compromise will unlikely be reached, which is making markets nervous. As we reported yesterday, the T-bill market has once again been under pressure, with the Dec 14 Bill the traders’ focus for now:
Lawamakers’ unwillingness to compromise on this bill, however, is due to one policy demand that Democrats have staked their political future on, but Republicans see as tantamount to amnesty: Enshrining DACA, or DREAM Act, protections into law.
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