Budget Talks Continue as Shutdown Threat Remains High

April 7, 2011 | By Liza Casabona | Post a Comment

Like sands through the hourglass, so are the final hours of our fiscal year 2011 budget negotiations.

Time runs out tomorrow at midnight (that’s when the federal government’s coffer runs dry), and so far there seems to be no deal on the table for the FY 2011 budget, despite ‘round the clock talks in recent days.

After failing to reach an agreement at a meeting this afternoon President Obama, House Speaker John Boehner, R-Ohio, and Senate Majority Leader Harry Reid, D-Nev., will come to the table again at 7 p.m. tonight to continue efforts to hash out a deal to keep the government funded.

Meanwhile, the House passed another week-long continuing resolution that would cut an additional $12 billion from spending today. Obama issued a statement before the vote saying he would veto the bill, even if it makes it through the gauntlet of the Senate.

The back-and-forth over spending levels for fiscal year 2011 had Washington D.C. spellbound today as the clock ticks down the expiration of the current stop-gap measure keeping the government running. But hidden in the drama unfolding this week are some very real, potentially harmful impacts for government employees, critical services and organizations that rely on federal funds.

We’ll keep you posted as the clock ticks down to the midnight expiration of the current CR tomorrow.

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