Clinton plans shutdown as budget crisis deepens
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Washington - The budget impasse between Congress and the White House deepened last night as President Clinton held a Cabinet meeting last night to finalise plans for a partial shutdown of the government next Tuesday, and his aides warned that a US debt default next week was "increasingly likely", writes Rupert Cornwell.
The showdown, which f sent bond prices sharply lower yesterday, follows the refusal of the Republican Congress to drop conditions to bills lifting the federal debt ceiling, and providing for temporary spending until a 1995/96 budget is agreed. Mr Clinton says he will veto both measures in their present form.
As matters stand, 800,000 federal employees will be laid off when the current stopgap bill expires on Monday. Debt default could come two days later, when a $25bn interest payment is due. The White House warned that default would damage US financial prestige, push up interest rates, and increase the federal budget deficit.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments