The corresponding document was adopted by the House of Representatives and the US Senate. If this had not happened before October 1, the federal government would have stopped the work of a number of institutions, just as in 2013.
At the same time, tensions between the White House and the Republicans in Congress are intensifying amid the start of a new fiscal year on October 1. The two major political parties have to agree on a number of provisions of the draft budget, and this will be a difficult task to achieve, US economist Alex Golubovic said.
He mentioned that US President Barack Obama has not fulfilled any of his promises and that it is becoming difficult for the White House to position itself as “a hero”. Republicans will try to discredit the economic policy of the Democrats and Obama as a president.
There will be a tough dispute over the debt ceiling and some budget provisions, the expert argued, adding that the battle is likely to heat up amid the upcoming 2016 presidential election. According to Golubovic, Republicans will carefully prepare for the presidential campaign and think out the arguments to illustrate Obama’s economic failures.
