As House Budget Fails In The Senate, Circle March 18 On Your Calendar

Photo: G. Rivas Valderrama via Flickr

The budget passed last month by the House — which cut about $61 billion from the government’s spending bill — just failed in the Senate.That was expected.

So what’s next in the fiscal fight.

BofA lays out the dates to watch.

  •  March 18: Continuing Resolution expires. Congress will either have to pass another two- or four-week CR, likely to be accompanied by spending cuts. Without another CR, the government will shutdown on March 19.
  • April 15 to May 30, 2011- Debt Ceiling: The Treasury Department announced that the debt ceiling is likely to be breached between April 15 to May 30 – two weeks later than previously forecast.
  • April – House Republicans are likely to release their budget. Speaker John Boehner has promised that the budget is likely to contain entitlement reform. If that promise materialises, it could trigger a badly-needed debate in the public arena.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at

Tagged In

budget moneygame-us