Connect with us

The partial government shutdown became the longest closure in U.S. history at when the clock ticked past midnight Friday as President Donald Trump and nervous Republicans scrambled to find a way out of the mess.

A solution couldn’t come soon enough for federal workers who got pay statements Friday but no pay.

The House and Senate voted to give federal workers back pay whenever the federal government reopens and then left town for the weekend, leaving the shutdown on track to become one for the record books once the clock struck midnight and the closure entered its 22nd day.

And while Trump privately considered one dramatic escape route — declaring a national emergency to build the wall without a new stream of cash from Congress — members of his own party were fiercely debating that idea, and the president urged Congress to come up with another solution.

“What we’re not looking to do right now is national emergency,” Trump said. He insisted that he had the authority to do that, adding that he’s “not going to do it so fast” because he’d still prefer to work a deal with Congress.

About 800,000 workers missed paychecks Friday, many receiving blank pay statements. Some posted photos of their empty earnings statements on social media as a rallying cry to end the shutdown, a jarring image that many in the White House feared could turn more voters against the president as he holds out for billions in new wall funding.

With polls showing Trump getting most of the blame for the shutdown, the administration accelerated planning for a possible emergency declaration to try to get around Congress and fund the wall from existing sources of federal revenue. The White House explored diverting money for wall construction from a range of other accounts. One idea being considered was diverting some of the $13.9 billion allocated to the Army Corps of Engineers after last year’s deadly hurricanes and floods.

That option triggered an outcry from officials in Puerto Rico and some states recovering from natural disasters, and appeared to lose steam on Friday.

California Gov. Gavin Newsom called it an “unconscionable” idea to look at using disaster assistance “to pay for an immoral wall that America doesn’t need or want.”

Republican Rep. Kevin Brady of Texas told reporters after discussions with the White House: “I feel confident disaster relief dollars will not be tapped.” Brady said the administration was looking at the “breadth” of unspent dollars in other government accounts.

Other possibilities included tapping asset forfeiture funds, including money seized by the Department of Justice from drug kingpins, according to a congressional Republican not authorized to speak publicly about private conversations. The White House also was eyeing military construction funds, another politically difficult choice because the money would be diverted from a backlog of hundreds of projects at bases around the nation.

Despite Trump’s go-slow message, momentum grew in some corners for some sort of emergency declaration. Republican Sen. Lindsey Graham of South Carolina, who met with the president on Friday, took to Twitter afterward to urge: “Mr. President, Declare a national emergency NOW. Build a wall NOW.”

Trump has been counseled by outside advisors to move toward a national emergency declaration, but many in the White House are trying to pump the brakes. Senior aide Jared Kushner, who traveled with the president to the Texas border on Thursday, was among those opposed to the declaration, arguing to the president that pursuing a broader immigration deal was a better option. A person familiar with White House thinking said that in meetings this week, the message was that the administration is in no rush and wants to consider various options. The person was unauthorized to discuss private sessions and spoke on condition of anonymity.

Democratic House Speaker Nancy Pelosi, who has signaled moral opposition to the wall and vowed to oppose any funding, said the president is seeking to divert attention from special counsel Robert Mueller’s investigation and other White House problems.

“This isn’t a wall between Mexico and the United States. This is a wall between his failures of his administration,” Pelosi told reporters. “This is a big diversion, and he’s a master of diversion.”

Pelosi sent a letter to colleagues late Friday thanking House Democrats for passing bills to reopen shuttered departments and agencies. Pelosi said there’s “no excuse for President Trump to keep government shut down over his demands for an ineffective, wasteful wall.” She said he’s “endangering the health and safety of the American people and stealing paychecks from 800,000 innocent workers” over the shutdown.

Although Trump has been frustrated with aides as he loses the public relations battle over the shutdown, White House attempts to use the trappings of the presidency to buttress his case for the wall have yielded mixed results in the president’s view.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

World

Shares in Asia set to slip despite Wall Street surge overnight

Published

on


Stocks in Asia were set to slip at the open despite an overnight surge on Wall Street, with the Dow Jones Industrial Average posting a gain of more than 200 points.

Source link

Continue Reading

World

EU will offer Brexit delay, but length depends on UK parliament

Published

on

The European Union will grant Britain an extension to its Brexit negotiating period, but the length of the delay will depend on whether Prime Minister Theresa May is able to win a vote in parliament on an exit agreement next week, draft summit conclusions said.

The updated conclusions for an EU leaders’ summit, which have yet to be finalised, said the bloc would grant an extension to May 22 if May is able to get the existing Brexit divorce deal approved by the British parliament.

If she is unable to do so, Britain would only be give a Brexit delay until April 12. At this point the country would face a disorderly Brexit, or could ask for another extension if it agreed to hold European Parliament elections on its soil on May 23-26.

“The European Council agrees to an extension until 22 May 2019, provided the Withdrawal Agreement is approved by the House of Commons next week,” said the updated draft of the EU leaders’ agreement on Brexit, which was seen by Reuters.

“If the Withdrawal Agreement is not approved by the House of Commons next week, the European Council agrees to an extension until 12 April 2019 and expects the United Kingdom to indicate a way forward at the latest by this date.”

Source link

Continue Reading

World

Apple rallies as investors anticipate streaming service announcement

Published

on

Apple’s stock is on a tear this week as it releases a string of products in the lead-up to its highly anticipated event on Monday.

The stock had its biggest rally Thursday since January, closing up 3.7 percent at $195.09 per share for its ninth positive day in the past 10 trading days.

Apple fell just short of taking back the title of the world’s largest public company from Microsoft. Still, Apple is once again approaching $1 trillion in market value, adding about $33 billion to its market capitalization Thursday, bringing it to $919.9 billion.

While Apple has put the spotlight on its hardware this week, announcing new iPads, iMacs and AirPods three days in a row (with a fourth product possibly coming Friday), the focus of Monday’s event is expected to be on a new streaming video service. Teasing the event with the slogan, “It’s show time,” Apple is expected to introduce a new streaming TV service that will give iPhone and iPad users access to free original content and subscription channels such as Starz and CBS All Access, CNBC previously reported.

Investors are already seeing a big upside to Apple’s expected venture into streaming. Needham upgraded the stock on Thursday and raised its price target from $180 to $225.

In a note to investors, Needham analysts wrote that if users adopt Apple’s streaming service, it “should lower churn and drive higher lifetime value.” It could even attract new customers to its products and services, they wrote.

Citigroup also raised its price target on the stock from $170 to $220 on Thursday, even though analysts said in a note they don’t anticipate the launch of Apple’s streaming service “to be a big catalyst for the stock.” They noted, rather, that the streaming is meant to drive recurring revenue for the company, in continuation of its services strategy.

Wedbush raised its price target from $200 to $215 Thursday, saying, “Monday’s announcement is just the tip of the iceberg for [Apple CEO Tim] Cook’s broader streaming content strategy to take hold and in our opinion adds a significant potential catalyst to the Apple services growth story for years to come.” The analysts hedged slightly, noting that Apple “is definitely playing from behind the eight ball in this content arms race with Netflix, Disney, Hulu, and AT&T/Time Warner all going after this next consumer frontier.”

Disclosure: Comcast, which owns CNBC parent NBCUniversal, is a co-owner of Hulu.

— CNBC’s
Michael Sheetz
contributed to this report.

Subscribe to CNBC on YouTube.

Watch: Apple announces new AirPods with wireless charging and voice control

Source link

Continue Reading

Trending