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Dep Treasury Secretary Adeyemo: "I Don't Expect The Government To Close"

US

Deputy Treasury Secretary Wally Adeyemo, speaking at the Council of Foreign Relations on today's Russia sanction package, says he doesn't believe the government will shutdown next month.

  • Adeyemo: "We've seen this a number of times. I don't expect the government to close, I think Congress will find a way to continue to fund the government," but later adds that it's up to House Speaker Mike Johnson (R-LA) to "keep the deal that he cut," likely referring to the deal struck between former House Speaker Kevin McCarthy and President Biden last Spring which raised the debt ceiling and set topline spending numbers for FY2024 - number which are currently disputed by House conservatives.
  • Adeyemo adds: "The more important thing that we have to ask ourselves is why do we continue to do this to ourselves? It makes absolutely no sense to do this. It's no good for anyone. Fundamentally, the United States has the ability, and the capacity, to continue to pay its bills... This comes down to the speaker making a decision to continue with a deal that he cut."
  • Separately, Adeyemo says he believes that the House of Representatives will pass the USD$95 billion foreign aid package, which includes funding for Ukraine, Israel, and other allies: "I think they have to... a majority of House members are supportive of the Ukraine bill."
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Deputy Treasury Secretary Wally Adeyemo, speaking at the Council of Foreign Relations on today's Russia sanction package, says he doesn't believe the government will shutdown next month.

  • Adeyemo: "We've seen this a number of times. I don't expect the government to close, I think Congress will find a way to continue to fund the government," but later adds that it's up to House Speaker Mike Johnson (R-LA) to "keep the deal that he cut," likely referring to the deal struck between former House Speaker Kevin McCarthy and President Biden last Spring which raised the debt ceiling and set topline spending numbers for FY2024 - number which are currently disputed by House conservatives.
  • Adeyemo adds: "The more important thing that we have to ask ourselves is why do we continue to do this to ourselves? It makes absolutely no sense to do this. It's no good for anyone. Fundamentally, the United States has the ability, and the capacity, to continue to pay its bills... This comes down to the speaker making a decision to continue with a deal that he cut."
  • Separately, Adeyemo says he believes that the House of Representatives will pass the USD$95 billion foreign aid package, which includes funding for Ukraine, Israel, and other allies: "I think they have to... a majority of House members are supportive of the Ukraine bill."