The House’s “Rookie” Speaker Has the Government on the Brink of a Shutdown

Price and Brill discuss the funding crisis facing the US government.

The United States once again faces the looming threat of a government shutdown, just months after the last one was narrowly avoided. With the current stopgap funding bill set to expire on November 17, 2023, Congress is tasked with the challenging task of reaching a bipartisan agreement on a new continuing resolution (CR) to keep the government running.

The stakes are high, as a shutdown would have significant repercussions for the economy, national security, and the lives of millions of Americans. Federal agencies would be forced to halt non-essential operations, furloughing hundreds of thousands of workers and disrupting critical services. The shutdown could also jeopardize the U.S. credit rating and damage its standing on the world stage.

Crafting a CR is proving to be a formidable challenge. Republicans and Democrats remain deeply divided over spending priorities, with the GOP demanding cuts to domestic programs in exchange for increased funding for defense. The political climate is further complicated by the relative inexperience of new Speaker Mike Johnson, who is struggling to unite his fractious caucus and wrangle in a group of hard-right Republicans who are opposed to any compromise that includes raising the debt ceiling.

Johnson’s lack of experience is playing a significant role in the current impasse. He has faced criticism for his handling of negotiations with Democrats and his inability to control his own party’s members. The recent vote on the CR, which saw many House Republicans join Democrats in voting against the bill, highlighted the deep divisions within the GOP and the challenges Johnson faces in leading his caucus.

If Congress fails to reach an agreement on a CR by November 17, the government will shut down for the fourth time in a decade. This would be a major setback for the country and could have far-reaching consequences.

According to the American Enterprise Institute, “Alex Brill is a resident fellow at the American Enterprise Institute (AEI), where he studies the impact of tax policy on the US economy as well as the fiscal, economic, and political consequences of tax, budget, health care, retirement security, and trade policies. He is the editor of Carbon Tax Policy: A Conservative Dialogue on Pro-Growth Opportunities. Before joining AEI, Brill served as the policy director and chief economist of the House Ways and Means Committee. Previously, he served on the staff of the White House Council of Economic Advisers. He has served on the staff of the President’s Fiscal Commission (Simpson-Bowles) and the Republican Platform Committee (2008). He is also the founder and CEO of the economic consulting firm Matrix Global Advisors (MGA). Brill has an MA in mathematical finance from Boston University and a BA in economics from Tufts University.”

 

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