Thursday, 10 October 2013
U.S DEBT CEILING DEADLINE- A LESSON FOR NIGERIA POLITICIANS
Many Americans feeling the temporary government shutdown |
The U.S Constitution requires that all expenditure of federal funds be authorised by the Congress with the approval of the President of the United States. The U.S federal Government and the federal budget progress operates on a fiscal year cycle running October 1 to midnight September 30. If Congress fails to pass all the spending bills comprising the annual federal budget or "continuous resolutions" extending spending beyond the end of fiscal year; or the President fails to sign or vetoes any of the individual spending bills, certain non-essential functions of the government might forced to cease due to the lack of congressionally- authorised funding. The result is what is happening in U.S, government shutdown.
In Nigeria the story is different, what they care for is how they (Nigeria Politicians) will do to spend more without any due process, and if the House refuses to sign any bill, you know the normal thing that it will result to, exchange of punches, pandemonium in the House.
We should learn the good examples the western world democracy practices; American government shutdown because they believe their debt is raising to the ceiling, and they are looking for remedy. It is not about the Republican or Democrat it is about the nation.
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