The New York Times reports the US Senate Votes Overwhelmingly to End Government Shutdown.
The Senate voted 81-18 on Monday to end the three-day old government shutdown, with Democrats joining Republicans to clear the way for the passage of a short-term spending package that would fund the government through February 8 in exchange for a promise from Republican leaders to address the fate of young, undocumented immigrants known as Dreamers.
“In a few hours, the government will reopen,” said Senator Chuck Schumer of New York, the Democratic leader. “We have a lot to do.”
Mr. Schumer, speaking on the Senate floor, announced that he and Senator Mitch McConnell of Kentucky, the Republican leader, had “come to an arrangement” to adopt the three-week spending measure while continuing to negotiate a “global agreement” that would include the fate of the dreamers, undocumented immigrants brought to the country as children.
Monday’s vote came after a frantic weekend of work by a bipartisan group of more than 20 senators, who on Sunday night were discussing a plan in which the government would stay open through early February, coupled with a promise from Mr. McConnell to allow a vote on a measure to protect the Dreamers from deportation.
The crux issue, it seemed, was whether the majority leader could be trusted to keep his word. Democrats have not forgiven Mr. McConnell for blocking the Supreme Court nomination of Merrick Garland for almost a year pending the election of a Republican to the White House. And Mr. McConnell’s promises to Republican Senators Flake and Susan Collins of Maine for votes on health care and immigration in exchange for their support of the tax cut have yet to materialize.
How much of the issue is that mistrust?
“Uh, most of it,” said Senator Joseph Manchin III, Democrat of West Virginia.
That Didn’t Take Long
As noted yesterday in How Long Will the Government Shutdown Last? I voted with the 57% majority who said this would be over in a week.
Stock Market Surge
The stock market surged to a new high today as if this vote was merited a Popcorn Rating above zero. It didn’t.
The S&P 500 is up about 16 points today as of 12:45 PM Central.
How Many More Rallies?
With one formality out of the way, we can turn our focus on February 8.
There is plenty of time for more mud-slinging, more fake shutdown threats, and yes indeed, more stock market rallies based on fake threat resolutions.
If you voted “none” you were wrong. Other numbers are still in play.
Mike “Mish” Shedlock
The Dems and the media could state it however they like. Most American citizens are fed up with shut downs and this one falls on the Dems. Most got calls telling the dems, illegals are not a reason to stop the government from functioning and we are tired of being second class citizens while illegals protest on our doorsteps.
DACA deportations won’t start for 6 months and even then, those under DACA can apply to stay. In reality, only a small pct would end up deported and it’s possible no one would be deported.
No surprise of the short duration since neither side wants to lose seats this year. I would have been happy with a longer shutdown so perhaps the feds would be forced to slow spending. Neither side cares about fiscal responsibility or what is best for Americans. It is all a game and the majority of people sit staring at their TV as the debt ratchets higher. Why no talk of spending cuts now that the Republicans are in control? Because they are not better than the Democrats?
As a native American observer, I have to agree with you Realist. The problem is that with our 2 party system one side always opposes the other, even when the opposition previously supported a position. I wish we had a real multi-party system; then Libertarians would not have to call themselves Republicans and socialists/communists would not have to call themselves democrats.
The Republicans are perfectly willing to fund the Gov’t for the whole year, The Dems want to be able to shut the gov’t back down on March 5, when they have failed to make a DACA deal and Trump starts deporting 1,000 DACA a day.
Realist – You are correct – It’s idiotic
Where is the democrat support for full spending appropriation on the wall?
Amazing, the current buy-side imbalance in a market this broad.
They just kicked the can to Feb 8th. When the next shutdown may occur. Nothing has been resolved.
Oh boy. We get to see all this BS start again in a few weeks! Maybe this is what our government is going to be from now on. Why you people keep voting for your senators and representatives, I’ll never know.
Now that there is a temporary spending bill, I see no reason why ALL stocks should not have PEs of AT LEAST 250…..(/sarc)
I think they feared a “nuclear” vote and they would get nothing