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US: Government shutdown is imminent - Rabobank

In view of analysts at Rabobank, a US government shutdown is imminent as a bipartisan efforts to implement a stopgap funding bill, which would ensure the government can continue to operate as normal until 8 February, were thwarted by President Trump.

Key Quotes

“Despite earlier comments in which Trump said he wanted to avoid a shutdown, the President has indicated he will refuse to sign this short-term funding bill because it didn’t include any funds for his Wall.”

“Republicans may now try to table a stopgap bill that does include USD 5bn in Wall funding, but it is unlikely that this will find support from the Democrats – or in the words of Senate Minority Leader Schumer: “There are not the votes in the Senate for a wall, not now, not next week, not next month or beyond.”

“With several spending bills expiring on Saturday, that leaves today for some last-minute deal making –that is, bickering whether Trump does or does not get his desired Christmas present– to avoid a partial shutdown of government. However, since many Congressmen have already left Washington for the holidays after the bill passed the Senate last Wednesday, a temporary shutdown over the Christmas break appears all but unavoidable.”

 

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