Tag #Budget Crisis

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Trump Rejects US Budget Deal, Threatening Government Shutdown

President-elect Donald Trump and key Republicans rejected a bipartisan US budget deal including over $100 billion in disaster aid, risking a government shutdown before Christmas and creating uncertainty about future funding.

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Trump Blocks Spending Bill, Risks Government Shutdown

President-elect Donald Trump is blocking a bipartisan spending bill, risking a government shutdown unless President Biden signs it by Friday; this follows a deal between Democrats and Republicans and criticism from Elon Musk; Trump also wants the debt ceiling raised before his term begins.

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Musk Slams Johnson's \$100 Billion Spending Bill

Speaker Mike Johnson unveiled a \$100 billion-plus spending bill including a 40% congressional pay raise, drawing sharp criticism from Elon Musk, who called it \"pork\" despite prior conversations with Johnson.

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Chicago Mayor's Budget Passes Amidst Protests Over Migrant Funding and Debt

Chicago Mayor Brandon Johnson's 2025 budget, including \$40 million in short-term loans and significant migrant funding, passed on Monday after a contentious city council meeting marked by protests and the removal of residents; the plan faced six weeks of debate and criticism over spending and debt.

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sueddeutsche.de
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Germany's Budget Impasse: Provisional Rules Limit Spending

Due to the collapse of Germany's governing coalition and the subsequent failure to pass a 2025 budget, the German government will operate under provisional budget rules from January, limiting spending to 45 percent of initially planned funds for the year, while mandatory payments will continue.

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politico.eu
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France Names Fourth Prime Minister Amid Political Crisis

French President Emmanuel Macron appointed François Bayrou as prime minister on Friday, following the collapse of Michel Barnier's government due to a controversial social security budget; Bayrou faces an uphill battle to form a stable government amid deep political divisions.

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Trump Pressures Republicans to Reject Spending Bill, Risking Government Shutdown

Facing a Friday deadline to avoid a government shutdown, President-elect Donald Trump and allies are pressuring Republicans to reject a bipartisan spending bill, despite warnings of economic consequences similar to the 2018-19 shutdown that cost $8 billion in GDP.

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dailymail.co.uk
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Musk and Trump Block Massive Spending Bill

Elon Musk and Donald Trump's combined social media pressure successfully blocked a 1,547-page, last-minute federal spending bill on December 20, exposing a broken budgeting process marked by backroom deals and insufficient review, temporarily halting a trajectory towards $36 trillion in national deb...

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France Adopts Special Law to Fund State Amid Budget Impasse

The French National Assembly unanimously approved a special law on December 16th, allowing the government to levy taxes and borrow to finance the state and social security due to the rejection of Michel Barnier's nomination and the subsequent failure to adopt a 2025 budget; this temporary measure fa...

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Bayrou Appointed French Prime Minister Amidst Political Divisions

Following a period of political uncertainty, Emmanuel Macron appointed François Bayrou as France's new Prime Minister on Friday. Bayrou's immediate priorities include forming a new government capable of passing a 2025 budget and navigating the political divisions that led to the previous government'...

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Bayrou Begins Consultations Amidst French Political Crisis

French Prime Minister François Bayrou initiated consultations with political parties on December 16th to form a government and pass a budget after the previous government's censure, with La France Insoumise refusing to participate while others remain open to discussions.

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French Budget Crisis Threatens Barnier Government

On December 1st, French Prime Minister Michel Barnier faced a potential government collapse due to budget disagreements. The National Rally (RN) and left-wing parties may unite to trigger a censure motion if Barnier uses Article 49.3 to pass the budget, potentially leading to higher debt costs.

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