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The stalemate that lasted a full 40 days seems to finally be coming to an end.
This incident is quite surreal — because the budget negotiations broke down, the entire government department simply went on "strike". Such an operation is unique in the political landscape worldwide. The problem is, this halt lasted for more than a month, and the global financial markets suffered as a result. The Nasdaq was shaking over there, Bitcoin's price trend was also unstable, and tech stocks were on a roller coaster. Even the U.S. Treasury bonds and gold, which are usually considered safe havens, couldn't escape unscathed; the market sentiment was understandably tense.
However, speaking of which, no matter how opposing the political positions are, everyone still wants to have a peaceful Thanksgiving. Just before November 27, the Senate finally gathered the crucial 60 votes to move the budget bill forward. What does this mean? It means that this record-breaking shutdown is likely coming to an end, and the upcoming procedures will bring everything back on track.
The root of this matter is actually quite simple - the two parties fell out over the fiscal budget issues after October 1.
That day was the deadline for the previous year's federal budget. Although the Republicans currently control both the House and the Senate, they are still a few votes short of the 60 votes needed for passage in the Senate. The Democrats are seizing this leverage. What is the biggest disagreement between the two sides? It focuses on a certain healthcare spending policy. The Democrats insist on extending a tax incentive so that millions of people can continue to enjoy relatively inexpensive health insurance.