The Shutdown Crisis Leads to Questions About Who Is in Charge

Published On Dec 20, 2024, 7:38 AM

The U.S. government is on the verge of a shutdown as a funding plan endorsed by President-elect Donald Trump and influencer Elon Musk was rejected by a significant number of House Republicans and nearly all Democrats. The unsuccessful legislation aimed to extend the government’s borrowing cap but was criticized for increasing government debt. Trump expressed concern about the ramifications for potential tax cuts and spending initiatives, indicating his preference for any debt ceiling increase to occur under President Biden's administration.

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The potential government shutdown could lead to uncertainty in the markets, particularly for companies dependent on government contracts or spending.

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