Partial Government Shutdown Looming Over Negotiations on Spe

Financial News Network
March 29, 2011 AT 9:46 PM
The AP is reporting that House Majority Leader Rep. Eric Cantor says the chamber will not pass another short-term federal funding bill to avoid a government shutdown if talks between the GOP and the White House fail to produce agreement by next week's deadline. AP says that Cantor commented that it's up to Democrats and the Senate to offer significant spending cuts as part of legislation to fund the government for the rest of the budget year. Democrats counter that Republican leaders fear tea party back-lash and have pulled back from a near-agreement on a spending cut figure.