Zürcher Nachrichten - Relief as US Congress averts government shutdown

EUR -
AED 4.258464
AFN 80.871135
ALL 98.15307
AMD 444.008146
ANG 2.075278
AOA 1062.176302
ARS 1370.630986
AUD 1.779918
AWG 2.087246
AZN 1.96968
BAM 1.955861
BBD 2.340773
BDT 141.674432
BGN 1.954028
BHD 0.437355
BIF 3451.807981
BMD 1.159581
BND 1.482627
BOB 8.011147
BRL 6.421798
BSD 1.159321
BTN 99.079808
BWP 15.468284
BYN 3.79397
BYR 22727.792979
BZD 2.328743
CAD 1.580944
CDF 3336.115431
CHF 0.942509
CLF 0.028164
CLP 1080.787486
CNY 8.341214
CNH 8.322297
COP 4846.330787
CRC 587.310775
CUC 1.159581
CUP 30.728904
CVE 110.268449
CZK 24.78832
DJF 206.443788
DKK 7.459946
DOP 68.502438
DZD 150.70089
EGP 57.748654
ERN 17.393719
ETB 158.964216
FJD 2.600071
FKP 0.855432
GBP 0.85362
GEL 3.177242
GGP 0.855432
GHS 11.883218
GIP 0.855432
GMD 81.745249
GNF 10045.314241
GTQ 8.909279
GYD 242.54445
HKD 9.101803
HNL 30.258468
HRK 7.543313
HTG 152.105414
HUF 400.913988
IDR 18805.39336
ILS 4.126121
IMP 0.855432
INR 99.183609
IQD 1518.754059
IRR 48818.372058
ISK 143.822583
JEP 0.855432
JMD 185.625807
JOD 0.822161
JPY 166.656765
KES 149.805883
KGS 101.405556
KHR 4650.085313
KMF 496.879759
KPW 1043.601917
KRW 1569.643701
KWD 0.354658
KYD 0.966118
KZT 592.428751
LAK 25022.459078
LBP 103875.205761
LKR 346.762343
LRD 231.864254
LSL 20.635046
LTL 3.423942
LVL 0.701419
LYD 6.334198
MAD 10.55443
MDL 19.859364
MGA 5180.095037
MKD 61.621954
MMK 2434.326914
MNT 4150.827621
MOP 9.373172
MRU 45.839434
MUR 52.470916
MVR 17.863384
MWK 2010.236881
MXN 21.912711
MYR 4.894585
MZN 74.155297
NAD 20.635401
NGN 1785.488709
NIO 42.661335
NOK 11.572731
NPR 158.524959
NZD 1.915856
OMR 0.44588
PAB 1.159321
PEN 4.212432
PGK 4.841151
PHP 64.640863
PKR 326.876235
PLN 4.269506
PYG 9251.289402
QAR 4.227632
RON 5.02934
RSD 117.207012
RUB 92.773703
RWF 1649.930271
SAR 4.349899
SBD 9.675408
SCR 16.762776
SDG 696.33335
SEK 10.936266
SGD 1.482913
SHP 0.911249
SLE 25.539749
SLL 24315.839782
SOS 662.520725
SRD 43.303986
STD 24000.991195
SVC 10.144317
SYP 15076.844872
SZL 20.621645
THB 37.583767
TJS 11.749716
TMT 4.058534
TND 3.430107
TOP 2.715854
TRY 45.602424
TTD 7.865144
TWD 34.144455
TZS 2997.517591
UAH 48.068204
UGX 4157.130045
USD 1.159581
UYU 47.901498
UZS 14661.458645
VES 116.206507
VND 30192.597433
VUV 138.95918
WST 3.184793
XAF 655.969035
XAG 0.031996
XAU 0.000343
XCD 3.133827
XDR 0.821179
XOF 655.977521
XPF 119.331742
YER 282.183778
ZAR 20.64693
ZMK 10437.625288
ZMW 28.490523
ZWL 373.384697
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

Relief as US Congress averts government shutdown
Relief as US Congress averts government shutdown / Photo: Mandel NGAN - AFP/File

Relief as US Congress averts government shutdown

The United States averted a government shutdown with hours to spare Friday as lawmakers already reeling from President Donald Trump's radical federal spending cuts voted to keep the lights on through September.

Text size:

Facing a midnight deadline to fund the government or allow it to start winding down, Democrats dropped plans for a blockade on a Trump-backed bill passed earlier this week by the House -- clearing its path for approval by the Republican-led Senate.

"In their typical fashion, Senate Democrats engaged in political theater to delay the inevitable and cause instability," said Ted Cruz, chairman of the Senate Commerce Committee.

"Americans voted for change under President Trump and Republican leadership after four years of chaos. The government is funded, let's get back to work."

Democrats had been under immense pressure from their own grassroots to defy Trump and reject a text they said was full of harmful spending cuts.

But Chuck Schumer, their leader in the upper chamber, shocked his rank-and-file ahead of the crunch vote by announcing he would back the Republican-drafted proposal.

Ten Democrats -- worried that they would be blamed over a stoppage with no obvious exit ramp -- backed down from a showdown with Trump and allowed the bill to advance to a final floor vote, where it only needed Republican support.

The week's action in Congress marked a big victory for Trump, who turned the political thumbscrews on some holdouts among the fractious House Republicans -- effectively stamping out a rebellion that could have ushered in a shutdown.

The funding fight was focused on opposition to Trump's Department of Government Efficiency (DOGE), spearheaded by tech billionaire Elon Musk, which is working to dramatically downsize the government.

DOGE aims to cut federal spending by $1 trillion this year and claims to have made savings so far of more than $100 billion although its verified cost savings come to less than a tenth of that figure.

- 'Betrayal' -

Grassroots Democrats, infuriated by what they saw as Musk's lawless rampage through the federal bureaucracy, wanted their leaders to stand up to DOGE and Trump.

Schumer warned, however, that a shutdown could play into Trump and Musk's hands, distracting from DOGE's most unpopular actions, which now include firing half the Education Department's workforce.

The veteran campaigner published an op-ed in The New York Times defending his decision to support the package, a U-turn that sparked an angry backlash from grassroots critics and House Democrats who accused him of "betrayal" and of "caving."

Schumer argued that a shutdown would have allowed Musk and Trump to "destroy vital government services at a significantly faster rate than they can right now."

"Under a shutdown, the Trump administration would have wide-ranging authority to deem whole agencies, programs and personnel nonessential, furloughing staff members with no promise they would ever be rehired," Schumer wrote.

Shutdowns are rare but disruptive and costly, as everyday functions like food inspections halt and parks, monuments and federal buildings shut up shop.

Up to 900,000 federal employees can be furloughed, while another million deemed essential -- from air traffic controllers to police -- work but forego pay until normal service resumes.

Trump praised Schumer for having "guts" in a Truth Social post that hailed "a whole new direction and beginning" for the country.

"I appreciate Senator Schumer, and I think he did the right thing. Really, I'm very impressed by that," he told reporters later.

Success for the funding bill will come as a relief to Schumer, who was struggling to keep Senate Democrats together under a barrage of criticism from his own side.

Patty Murray, the top Democrat in the funding negotiations, called the House bill a "dumpster fire."

More than 100 demonstrators gathered early Friday outside Schumer's Brooklyn high-rise, shouting "Chuck betrayed us" and "Dems -- don't be chickens in a coup."

E.Schneyder--NZN