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BREAKING
Al Mayadeen's correspondent in southern Lebanon: Israeli artillery shelling targets the outskirts of the town of Shebaa
Al-Qassam Brigades: The targeting took place at the intersection of 'Street 5' with the western line north of Khan Younis
Al-Qassam Brigades: A NIMR armored personnel carrier carrying an Israeli soldier was targeted with an Al-Yassin missile north of Khan Younis
Israeli media: At least two soldiers killed by anti-tank missile fired at Israeli army forces in the Gaza Strip
Local Syrian sources: Mortar shells fell on more than nine villages in the Sweida countryside
Local Syrian sources: Dozens of dead and wounded have arrived at Sweida hospitals as a result of ongoing clashes at several locations in the western Sweida countryside
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes
Israeli media outlet: Security incident reported in the Gaza Strip
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police

Biden signs stopgap funding bill to avoid shutdown

  • By Al Mayadeen net
  • Source: Agencies
  • 12 Mar 2022 09:34
4 Min Read

The resolution finances the government until March 15, buying time for a $1.5 trillion federal spending package to go through.

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  • Biden signs stopgap funding bill to avoid shutdown
    Biden recently signed the "Further Additional Extending Government Funding Act" (AP)

In order to prevent a government shutdown, US President Joe Biden signed legislation on Friday to finance federal government operations in the near term.

The continuing resolution approved by Biden finances the government until March 15, allowing time for a massive $1.5 trillion federal spending package to reach Biden's desk.

Late Thursday, the Senate cleared the continuing resolution and the bigger appropriations package, which supports the government through September and contains billions of dollars in aid for Ukraine. But the larger legislation takes time to go from Capitol Hill to the White House, while the government's financing was slated to expire on Friday at midnight, necessitating the continuing resolution.

Next Monday, Biden is expected to sign the $1.5 trillion funding measure.

After months of talks, that law was unveiled this week after passing with bipartisan support in the House on Wednesday and the Senate the next day.

The 2,741-page bill supports the government for the remainder of the fiscal year and contains $13.6 billion in "humanitarian and security aid" to handle Russia's continuing military operation in Ukraine.

However, COVID-19 pandemic funds, which the White House had requested for its pandemic response, were removed from the bill due to a squabble among House Democrats. The White House has cautioned that if extra COVID-19 money is not authorized, pandemic-related activities will suffer.

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"We thank leaders in the House and Senate for their partnership in getting this bill done, and the President looks forward to signing it into law,” White House press secretary Jen Psaki stated late Thursday, adding that “At the same time, we continue to call on Congress to provide the funds urgently needed to prevent severe disruptions to our COVID response."

On Wednesday, US senators approved nearly $14 billion in aid for Ukraine, as part of a massive plan to finance federal agencies and prevent a catastrophic government shutdown.

Biden signed HR 6617 into law, also known as the "Further Additional Extending Government Funding Act," providing the fiscal year 2022 appropriations to Federal agencies through March 11, allowing the Federal Government to continue its projects and activities.

The US economy in crisis

In 2019, a deal was reached between the Democrats and Republicans, represented by House Speaker Nancy Pelosi and then-Treasury Secretary Steven Mnuchin, that eased a bipartisan vote to lift the debt ceiling.

This authorized further borrowing and spending by the government, which at the time reached the limit of $22 trillion.

  • The cost of the US war on Afghanistan
    The cost of the US war on Afghanistan

Furthermore, the Pentagon, which has $3 trillion in assets and a record current 2021 budget of $738 billion, failed its audit for the third consecutive year in November.

An army of 1400 auditors hired by US taxpayers for $230 million and borrowed from some of the country's largest auditing firms spent the past year poring over the books and visiting hundreds of operations of the government's largest and geographically vast single agency, and returned with the news that they couldn't give it a pass, according to Dave Lindorff, a Philadelphia-based journalist and columnist.

The journalist went on to say that the US military, which consumes nearly half of the US $1.6 trillion discretionary budget, is a “financial black hole”.

Read More: The US Is Running Out of Money, Literally (Part II)

  • United States
  • economic crisis
  • Joe Biden

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