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The U.S. government's shutdown is trapped in a "veto cycle". Where will the "shutdown" crisis extend? Waiting for the eighth Senate vote next week

Wonderful introduction:

Let me worry about the endless thoughts, tossing and turning, looking at the moon. The full moon hangs high, scattering bright lights all over the ground. www.xmltrust.come to think of it, the bright moon will be ruthless, thousands of years of wind and frost will be gone, and passion will grow old easily. If you have love, you should grow old with the wind. Knowing that the moon is ruthless, why do you always place your love on the bright moon?

Hello everyone, today XM Forex will bring you "[XM Forex]: The US government shutdown is stuck in a "veto cycle", where will the "shutdown" crisis extend? Wait for the eighth Senate vote next week." Hope this helps you! The original content is as follows:

On Friday (October 10), the Republican bill to fund the U.S. government and end the shutdown failed to obtain the votes needed to pass the Senate. The U.S. government shutdown has entered its ninth day, with little sign of progress.

Trump said his administration would take advantage of the current government shutdown to permanently cut what he called "Democratic programs." That suggests he will push to reduce federal spending and shift policy focus toward his political base.

House Speaker Mike Johnson on Thursday refused to recall the House of Representatives to pass a separate bill to ensure military pay during the government shutdown.

President Trump on Tuesday blasted Democrats' shutdown strategy as a "suicide attack" and said the move would create an opportunity for the government to "cut billions in waste, fraud and abuse."

The Senate adjourned for the weekend, and the government shutdown continued

On Friday, a short-term funding bill aimed at ending the government shutdown failed to pass for the seventh time. Senators immediately left Washington and did not plan to return until next Tuesday. Meanwhile, the government shutdown continues with no end in sight.

The government shutdown will last at least two weeks. The next opportunity to vote to restart the government is October 14. Military personnel are determined to miss their salary payment on October 15.

The Senate is scheduled to vote next Tuesday on a "pure" short-term funding bill passed by House Republicans aimed at ending the government shutdown. This will be the eighth time the Senate has voted on the measure.

IRS withdraws memo promising to pay back wages to furloughed workers

According to ABC NewsIn an email to employees on Thursday, the Internal Revenue Service rescinded guidance from an earlier internal memo that said furloughed workers were entitled to back pay, according to emails.

In an email with the subject line "Suspension Guidance Update," IRS employees were told that a previous memo "misstated the nature of unpaid and off-duty status www.xmltrust.compensation under the Government Employees Fair Treatment Act of 2019," and that the Office of Management and Budget would provide further guidance.

On Thursday, the IRS sent an agency-wide email with furlough guidance, which noted that the Government Employees Fair Treatment Act of 2019 "requires" back pay to furloughed federal employees once funding is restored.

The Senate once again failed to advance the clean funding bill, and the government shutdown deadlock continues with no end in sight

The Senate failed to advance the short-term government funding clean bill proposed by the Republican Party for the seventh time by a vote of 54 to 45, because it did not reach the 60 vote threshold required for advancement.

Kentucky Republican Sen. Rand Paul once again bucked party lines by voting against the bill.

Democrats Catherine Cortez Masto of Nevada, John Fetterman of Pennsylvania and Independent Angus King of Maine voted in favor, while the other Democrats did not change their position.

Texas Republican Senator Ted Cruz did not participate in the vote.

Previously, the Senate failed to advance a Democratic-led funding bill containing health care provisions by a vote of 47 to 50. This is the seventh time the bill has failed, and it did not win support from any Republican lawmakers.

Currently, the government funding impasse continues, with no clear signs of resolution in sight, and the House of Representatives remains in recess.

Trump said Democrats have lost their way when talking about the government shutdown

President Trump continues to criticize Democrats over the government shutdown, which is now entering its ninth day.

"Democrats have lost their way, lack leadership, and we don't even know who to deal with over there," Trump said during a Cabinet meeting at the White House.

"Republicans have voted multiple times to pass a no-strings-attached, bipartisan bill to reopen the government with the same funding levels."

"We're not going to do anything just to improve health care. In fact, I think we've really become the party of quality care," Trump said.

Trump threatens to cut popular Democratic programs

President Donald Trump has continued to threaten spending cuts during the government shutdown and said he would target "Democratic programs."

Trump said: "We willCut some programs that are very popular with Democrats but not with Republicans. Frankly, that's the rule of the game. That's what they want, and now it's time to give them a taste of their own medicine. ” but did not disclose specific details.

Legal experts believe that the Constitution and federal law allow only Congress to announce cuts to federal agencies or eliminate them entirely.

The White House did not provide more details on the legality of Trump’s threats, nor did it respond to questions about how firing unpaid personnel would reduce waste.

Johnson said he would not call the House back into session to pass a bill to pay troops.

Johnson reiterated on Thursday that he would not call the House back into session to pass a separate bill to ensure that military personnel can still receive pay during the government shutdown.

If Congress fails to resume government operations before October 15, this will be the first time in modern history that military personnel will miss pay due to a government shutdown.

Johnson said at a press conference in the Capitol on Thursday: "We have voted to fund the troops. It passed three weeks ago. We brought the bill up for consideration and Republicans voted to support this troop funding. "

The spokesperson's www.xmltrust.comments were made hours after the C-SPAN program aired. Earlier, a Republican caller named Samantha from Fort Belvoir, Virginia, told Johnson that she was "very disappointed" with the Republican Party's performance on the government shutdown issue. She claimed that if the family's income was interrupted on October 15, "the children may not survive."

Samantha directly addressed the speaker: "I think it's terrible that someone making six figures a year would dare to do this to a military family. It's crazy." "

Johnson addressed callers at a news conference and blamed Senate Minority Leader Chuck Schumer.

"They are living paycheck to paycheck, a lot of service members are, and this is not child's play," he said. Chuck Schumer thinks this is a game. ”

The IRS will furlough nearly half of its employees as most IRS operations are suspended

The IRS said it will furlough nearly half of its employees because “most IRS functions are suspended due to funding shortages.”< /p>

According to the contingency plan released by the IRS on Wednesday, 39,870 of the 74,299 employees will be retained as exempt personnel, while 34,429 will be temporarily furloughed.

The plan states that it is related to protecting government property and taxes. Collection-related work will continue, including processing tax returns with payments, maintaining online systems and running taxpayer verification services. Most other operations, such as taxpayer assistance and audits, will be suspended until funding is restored.

Analysis of the potential impact on the trend of the US dollar

The political deadlock in the United States has further deepened. The appropriation bill proposed by the Republican Party failed in the Senate for the seventh time. The government shutdown has entered its ninth day and there is no sign of resolution. House Speaker Johnson refuses to recall lawmakers to pass military paybill, and President Trump publicly declared that he would use the shutdown to permanently cut "Democratic projects", which indicates that the political game is becoming long-term and radical.

This round of shutdown is nothing new, and the market has gradually become "desensitized" to its short-term impact. Although the stalemate continues, the upward momentum of the US dollar index may be limited as a result, and its safe-haven glow will appear dim www.xmltrust.compared to a real global crisis (such as a major geopolitical conflict).

The IRS has withdrawn its promise to pay employees, nearly half the workforce has been furloughed, and the military will miss a payday due to a shutdown for the first time in modern history. These events have exposed the fragility of government operations. This kind of doubt on the country's governance ability is a fundamental disadvantage of the U.S. dollar as a reserve currency.

The government shutdown has interrupted the release of key economic data (such as CPI, non-farm employment). In the absence of data support, the Federal Reserve will have difficulty making accurate monetary policy decisions. This "uncertainty" itself will prevent the dollar from forming a clear trend and may intensify market volatility.

In the short term, as there is no immediate solution, some safe-haven buying caused by political uncertainty may still provide bottom support for the US dollar and prevent it from falling sharply.

If the shutdown is extended, it will have a material drag on economic growth in the fourth quarter, which may force the Federal Reserve to consider looser monetary policies in the future, thus putting pressure on the U.S. dollar in the medium to long term.

In the medium to long term, the political polarization, lax fiscal discipline and declining governance capabilities exposed by this deadlock are eroding the credit foundation of the US dollar. Once the market focus shifts from "risk aversion" to concerns about "US fiscal and governance sustainability," the dollar will face greater downward pressure.

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The U.S. government's shutdown is trapped in a "veto cycle". Where will the "shutdown" crisis extend? Waiting for the eighth Senate vote next week

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The U.S. government's shutdown is trapped in a "veto cycle". Where will the "shutdown" crisis extend? Waiting for the eighth Senate vote next week

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