Showing posts with label News. Show all posts
Showing posts with label News. Show all posts

US shutdown: Trump and Democrats blame each other




















Recriminations have begun over the failure of the US Senate to pass a new budget and prevent the shutdown of many federal services.
A bill to fund the federal government for the coming weeks did not receive the required 60 votes by the deadline of midnight on Friday.
President Trump accused the Democrats of putting politics above the interests of the American people.
The Democrats blame him for rejecting bipartisan compromise proposals.
Negotiations in both houses of Congress continued on Saturday, Senate Republican leader Mitch McConnell said the chamber would be back in session on Sunday to try to end the impasse.
The White House budget chief has expressed optimism that a resolution will be found before Monday.
But if not, hundreds of thousands of federal workers face the prospect of no work and shuttered offices at the start of the working week.
The last government shutdown was in 2013, and lasted for 16 days.

Why can the two sides not agree?

This is the first time a government shutdown has happened while one party, the Republicans, controls both Congress and the White House.
The vote on Friday was 50-49, falling far short of the 60 needed to advance the bill. With a 51-seat majority in the Senate, the Republicans did not have enough seats to pass the bill without some support from the Democrats.
They want funding for border security - including the border wall - and immigration reforms, as well as increased military spending.
The Democrats have demanded protection from deportation of more than 700,000 undocumented immigrants who entered the US as children.

This could be a protracted, ugly fight

Anthony Zurcher, BBC News, Washington
The game of chicken ended with a head-on crash.
Republicans are anxious to label this the "Schumer shutdown" and, essentially, they're right. Chuck Schumer and his fellow Democrats (with the help of a few Republicans) blocked a bill that would have kept the government open - at least temporarily.
Determining responsibility and apportioning blame, however, are two decidedly different endeavours.
Democrats will argue that they had a deal with the president on their bipartisan compromise that included immigration reform - only to have him back away during that fateful obscenity-laden Oval Office meeting last week. Republicans will frame this as liberals putting undocumented immigrant protections over military readiness and health insurance for poor kids.
The winner of the blame game has yet to be decided. Generally, the loser in these types of showdowns is the party entering the fight with the lowest popularity - bad news for Mr Trump and the Republicans.
The good news, for both sides, is that their political bases will be thrilled they are playing hardball. Midterm election years, like 2018, tend to encourage this kind of rally-the-base manoeuvres.
Now that the line has been crossed, this could become a protracted, ugly fight.

What is a government shutdown?

The US budget must be approved by 1 October - the start of the federal financial year.....read more

Trump - A BUSINESS GENIUS

YOU MAY HATE HIM BUT TRUMP IS A BUSINESS GENIUS: APPLE’S US$350 BILLION INVESTMENT PLAN PROVES IT

Apple’s CEO Tim Cook doesn’t like Donald Trump. It’s not hard to understand why Mr. Cook (a liberalist) and Mr. Trump (a nationalist)don’t see eye to eye – until now. The Apple chief had previously blamed the U.S. president as a white supremacist and a racist who promotes “hate and bigotry” in the United States. He even slammed Trump’s decision to withdraw from Paris Agreement.
While both individuals have the opposite political views, they have finally found a common interest – business. Apple’s blockbuster announcement that it will repatriate almost all of its US$250 billion in overseas cash, create 20,000 new U.S. jobs, open a new U.S. campus, and invest US$350 billion to the U.S. economy ends any serious debate about the new tax reform law.
Washington: President Donald Trump said in a tweet Wednesday that Apple Inc.’s decision to bring hundreds of billions of overseas dollars back to the US is a “huge win for American workers and the USA!”
“I promised that my policies would allow companies like Apple to bring massive amounts of money back to the United States,” Trump said in the tweet. Great to see Apple follow through as a result of TAX CUTS.”
The iPhone makers announced on Wednesday that it would make the move, paying about $38 billion in taxes on the money and spending tens of billions on domestic jobs, manufacturing and data centers in the coming years. Apple also told employees that it’s issuing stock-based bonuses worth $2,500 each following the new US tax law, according to people familiar with the matter.
In its December approval of the most extensive tax-code revisions since 1986, Congress scrapped the previous international tax system for corporations— an unusual arrangement that allowed companies to defer US income taxes on foreign earnings until they returned the income to the US. That “deferral” provision led companies to stockpile an estimated $3.1 trillion offshore and many were criticized for the moves, including Apple.
Trump deserves every single credit for creating a business-friendly environment and reforming the tax code which even Tim Cook finds hard to resist. In fact, Trump had no idea the explosive effect of his tax reform until Apple’s juicy announcement. The U.S. President was practically on cloud nine after Apple unveiled its ambitious investment plan that he personally called and thanked Mr. Cook.
Trump said – “In the news, I heard US$350 billion, I thought, ‘You mean US$350 million? That’s going to be a beautiful plant.’ They said, ‘No, it’s three-hundred and fifty billion dollars.’ And I just called Tim Cook and I thanked him.” He got so excited that he sang songs of praise for the Apple CEO – “Tim Cook is a great guy – the head of Apple.”
Although the plan is quite vague, Apple said it would directly contribute US$350 billion to the U.S. economy over the next 5 years, with the bulk – about US$55 billion this year – to be splashed on a new campus to house technical support for customers and US$10 billion toward data centres across the country. Initial fund for domestic manufacturing will be increased to US$5 billion from US$1 billion.

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