21 Days Until Government Runs Out of Money

WASHINGTON, DC - JUNE 23: (L-R) U.S. Speaker of the House Nancy Pelosi (D-CA) and U.S. Senate Majority Leader Chuck Schumer (D-NY) talk to reporters after a bipartisan group of Senators and White House officials came to an agreement over the Biden administrations proposed infrastructure plan at the U.S. Capitol …
Samuel Corum/Getty Images

The federal government will run out of money in 21 days from Friday.

In October, Sen. Mitch McConnell (R-KY) allowed Democrats to authorize $480 billion in new debt to keep the government open. But that money will likely run out December 3.

Democrats must find a way amid reconciliation negotiations to fund the government and raise the debt ceiling, a task Democrats kicked down the road with McConnell’s help last month.

When McConnell aided Democrats in funding the government, Sen. Chuck Schumer (D-NY) was not appreciative to senate Republicans for bailing him out, according to media reports. Schumer’s antics caused McConnell to publicly promise he would not again help the Democrat-controlled government to manage the funding of the government in December.

The critical timeline for Democrats to fund the government encases President Biden’s radical reconciliation package, which has been delayed and delayed again by Democrat infighting. The infighting has taken so much time from Democrats that Schumer’s legislative calendar has been shrinking. A certain amount of legislative days before the deadline are needed to raise the debt ceiling and fund the government.

“Democrats seem convinced that McConnell won’t provoke a debt default, and they believe that a spending deal is relatively straightforward if BBB [reconciliation] is resolved,” Punchbowl News wrote. “These might not be great reads of McConnell’s intentions, but that’s the sense we get from Senate Democrats right now. Everything hinges on BBB’s fate over the next few weeks.”

The Democrats could include the debt limit and government funding in the reconciliation package, but Democrats fear such a maneuver could not be accomplished in time. The reconciliation package may not be completed until 2022.

Follow Wendell Husebø on Twitter @WendellHusebø

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