The U.S. faces a possible government shutdown as Democrats and Republicans remain deadlocked over spending. Democrats demand health care subsidy extensions and Medicaid protections, while Republicans push for a short-term funding bill. Trump escalated tensions by mocking Democratic leaders, making compromise unlikely.
00:00It's Benzinga bringing Wall Street to Main Street.
00:02The U.S. is on the brink of a government shutdown as Democrats and Republicans remain locked in a standoff over federal spending, according to Bloomberg.
00:09Both sides blamed each other after a White House meeting ended without progress.
00:13Republicans are pushing for a clean short-term funding extension, and Democrats are demanding health care subsidy extensions and the reversal of Medicaid cuts.
00:20Trump canceled a meeting with Democratic leaders and instead mocked Chuck Schumer and Hakeem Jeffries in a social media video, making it unlikely he was courting their support.
00:28The shutdown will be the first since 2018-2019, and agencies will repair contingency plans as the White House loaded potential firings instead of furloughs.
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