A partial federal government shutdown starting Tuesday is the likely outcome of this weekend's Capitol Hill drama over federal spending and Obamacare, the Redwood Empire's two Democratic congressmen said.
And if the core issues remain unresolved as an estimated 800,000 federal workers go on furlough and Point Reyes National Seashore closes, the shutdown could segue into a more serious scenario: a financial default by the U.S. government that could rock the stock market.
North Coast Rep. Jared Huffman of San Rafael said he thinks a shutdown of “some duration” is likely if the House and Senate fail to agree on a stopgap spending measure to cover the start of a new federal fiscal year on Tuesday.
Rep. Mike Thompson of Napa, describing himself as “the eternal optimist,” said he is “still hopeful cooler heads will prevail and a shutdown can be averted.”
But that prospect becomes “less and less likely,” he said, as conservative Republicans press their attack on President Barack Obama's health care law.
“We are in for a very bumpy ride for the next couple of weeks,” Huffman said.
The stage for what Thompson labeled “high drama” was set Friday as the Democrat-controlled Senate approved a bill to pay for government operations through Nov. 15, stripped of Obamacare defunding measures previously approved by House Republicans.
The political ball returns to the House today, where Speaker John Boehner faces choices that range from backing the tea party-inspired campaign to thwart Obamacare to collaborating with the Democrats on a spending bill that averts the shutdown but could cost him his job.
The Republican-controlled House could opt for middle ground with a spending bill that includes a “limited repeal of Obamacare” in hopes it would be palatable to Democrats, Huffman said, attempting to handicap the other party's actions.