Government Shuts Down and Quickly Re-Opens

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The US has disqualified itself from being an "honest broker" in the Middle East peace process, Palestine President Mahmoud Abbas said, criticising Trump for his decision to declare Jerusalem as Israel's capital.

The growth assumptions in Trump's budget were first reported by the Wall Street Journal. But the ten-year yield closed at 2.86% on Friday, and the Federal Reserve is expected to hike rates three times this year.

Once known as the party of fiscal conservatism, the Republicans and Trump approved a sweeping tax overhaul bill in December that will add an estimated US$1.5 trillion to the national debt over 10 years.

"It's his right, of course, to vote against the bill", McConnell said around 6 p.m. EST.

"The U.S. economy is poised for a significant increase in federal dollars as the House and Senate passed both passed a two-year spending agreement early this morning", Height said Friday.

The legislation doesn't address immigration, though Republican Speaker Paul Ryan said again Thursday he was determined to bring an immigration bill to the floor this year, albeit only one that has President Donald Trump's blessing.

President Trump signed it, then tweeted, quote, "Without more Republicans in Congress, we were forced to increase spending on things we do not like or want" to help the USA military.

Trump also noted triumphantly that DACA - the Deferred Action for Childhood Arrivals, which protects about 800,000 "Dreamers" from deportation - was not included in the bill.

On Beacon Hill, lawmakers and Baker administration officials who spent a year ago trying to fend off federal spending cuts will now spend time sifting through the bill to learn exactly how the new investments will affect MA residents and state programs that rely on federal funds. But on the flip side, the bill contained a lot to make both parties happy: defense spending for Republicans, domestic spending for Democrats, a provision to suspend the debt limit until March 2019, and, crucially, a way to get the government running.

The Republican Party was once known for fiscal conservatism, but congressional Republicans and Trump are now quickly expanding the USA budget deficit and its US$20 trillion national debt.

The two-year budget deal would lift caps on defense and non-defense spending by $300 billion over two years. This will undoubtedly anger many conservative voters throughout the nation who worked tirelessly to give Republicans control of the House in 2010 and the Senate in 2014.

None of the added spending will be offset by budget savings elsewhere or revenue increases, relying instead on government borrowing. There also is no offset reduction for almost US$90 billion in new disaster aid for USA states and territories ravaged by hurricanes or wildfires previous year.

The brief shutdown likely won't register for most people.

Markets barely flinched at the last shutdown in January, but that was before a dizzying selloff that started on Jan. 30 amid concerns about inflation and higher interest rates.

Wall Street's main stock indexes climbed more than 1 percent on February 9, giving investors some solace after a week of huge swings that shook the market out of months of calm. He had harsh words for his own party.

There's no obvious compromise that could win the 60 votes from Republicans and Democrats needed to prevail in the Senate.

House Minority Leader Nancy Pelosi predictably voted against the bipartisan budget agreement, claiming it did little to protect millions of "Dreamers" now residing in the United States.

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