We have two trains. There is a train on each track. One is the appropriation bills. We have 13 appropriation bills. They must be enacted to allow the Federal Government to continue spending in those areas. Those 13 appropriation bills have not been agreed to. So what we did today, this morning, is we passed what is called a CR, a continuing resolution. That continuing resolution allows the administration to continue to spend money, but at a lesser rate than they were spending money before the 1st day of October. So 3 days from now, when the new fiscal year starts, they will be allowed to continue spending until November 13 the average of what the House passed in the appropriation bills, compared to what the Senate passed in their appropriation bills, minus 5 percent. And so we are saying OK, we will allow continued spending, but at a very modest rate until we come to final agreement on the appropriation bills. The other potential train wreck is the debt ceiling of this country.
Editor's note · Context
Discussing the passage of a continuing resolution and the implications for federal spending and the debt ceiling.
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