Days after a partial government shutdown was lifted after president became president Donald Trump signed a $1.2 trillion financing package, another government shutdown threatens on February 14.
The Department of Homeland Security (DHS) is facing a partial shutdown after Senate Democrats blocked two funding bills on Thursday, according to a report report by The Washington Post.
A government shutdown is looming
The Democrats, barring Sen. Johannes Fetterman (D-PA.) voted against advancing legislation to fund DHS through September 30. Lawmakers have now left for a weeklong recess, making a partial government shutdown inevitable.
Prediction market is betting big on shutdown
Data from Kalshi, a federally authorized gambling platform, shows that more than $6 million has been wagered on the contract “Government shutdown tomorrow?”
With a shutdown all but confirmed, bettors have estimated a 96% probability that a shutdown will occur on Saturday, up from 11.9%. Only 4% of gamblers have counted on a shutdown being avoided.
Lawmaker predicts shutdown
Fetterman, the only Democrat to support the funding bill, predicted the shutdown earlier this month.
The US is still recovering from a historic 43-day shutdown – the longest in US history. It caused an estimated loss of $7 billion to $14 billion in real GDP and forced nearly 900,000 federal employees to work without pay or go on furlough.
Trump gets a tariff shock
The threatened shutdown comes just days after Trump lost a vote in the House of Representatives after six House Republicans joined Democrats on Wednesday to pass a resolution aimed at repealing Trump’s tariffs on Canada.
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