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The threat of a partial government shutdown looms over Washington with just five days to go before funding expires for several government agencies and no agreement yet between Democrats and Republicans over how to resolve a standoff over President Donald Trump's border wall demand.It now looks, however, that Congress will act to extend the rapidly-approaching December 7 deadline.A source briefed on the talks told CNN over the weekend that lawmakers are considering taking up a one-week spending bill to avoid a partial government shutdown by Friday, a move designed to put off a major showdown until after former President George H.W. Bush's funeral proceedings (Congress will be out of session for part of the week because of it).A stop-gap funding measure could temporarily delay a spending showdown. But Democrats and Republicans appeared to be at an impasse over the President's promise of a border wall, raising the question: which side will blink first?Trump wants billion in funding for the wall and Senate Republicans are now weighing the possibility of attempting to allocate billion over the next two years. Any spending bill would need at least some Democratic votes to pass, however, and could not be enacted without some degree of bipartisan support.Senate Democratic Leader Chuck Schumer said last week that Trump should either agree to enact an existing Department of Homeland Security funding bill that has bipartisan support in the Senate and would allocate .6 billion for border security or keep DHS funded for another year via a short-term spending measure known as a continuing resolution.Lawmakers passed a government spending package to fund much of the government prior to the 2018 midterm elections -- so if there is any kind of a shutdown, it would not affect all of the federal government. Funding will run out on December 7 for some government agencies, including the Department of Homeland Security.Trump has so far signaled an openness to a short-term extension. The President told reporters aboard Air Force One that he is willing to extend the deadline for funding the federal government to avoid a government shutdown."If (congressional leaders) come to talk about an extension because of President Bush's passing, I would absolutely consider it and probably give it," Trump said.But a one-week continuing resolution would do little to address the current standoff between Democrats and Republicans over wall funding.The impact of a partial shutdown would nevertheless be disruptive and would invite an immediate political backlash.Democrats and Republicans alike have both said that they don't want a shutdown as the funding deadline nears."We don't believe in shutdowns," House Democratic leader Nancy Pelosi told reporters on Friday, saying "we have to" when asked if Congress would avert a shutdown."I don't think anybody wants a government shutdown," North Carolina Republican Rep. Mark Meadows, who chairs the conservative House Freedom Caucus, said on Friday in the Capitol.But, Meadows said, "I do think that there is a real battle coming on the border wall funding," adding, "if the border wall funding is not there, it does increase the possibility of impasse that could lead to a shutdown."The President has warned that it is "possible" there could be a shutdown if Congress does not greenlight the money he wants to see allocated for the wall, which he promised on the campaign trail would be paid for by Mexico."If we don't get border security, possible shutdown," Trump told reporters last Thursday.For now, both sides are gearing up for the possibility that a partial shutdown could take place -- and are getting ready to pin the blame on the opposing party if it happens."Make no mistake: The President is the only person who holds the ultimate responsibility for a government shutdown," Schumer said in a Senate floor speech on Thursday.Republicans still control both chambers of Congress and the White House. That won't change until Democrats take control of the House of Representatives in the new Congress in January. But that won't stop Republicans from trying to cast blame on Democrats if a partial shutdown happens."I don't think the Democrats want to shut down the government over the border security issue. But they might. We'll see," Sen. John Cornyn, the No. 2 Senate Republican, told reporters last week. 4385

The Trump administration's executive order threatening to withhold funding from sanctuary cities is unconstitutional, a US appeals court said Wednesday.This story is developing. 190

The White House, after a day of uncertainty, confirmed Wednesday that deputy national security adviser Mira Ricardel is leaving her position.She will remain in the administration.In a statement, press secretary Sarah Sanders said, "Mira Ricardel will continue to support the President as she departs the White House to transition to a new role within the Administration. The President is grateful for Ms. Ricardel's continued service to the American people and her steadfast pursuit of his national security priorities."Sources said the President told advisers Tuesday that he had decided to fire her.The decision comes a day after first lady Melania Trump's office issued a surprising statement calling for Ricardel to leave the White House. 750

The rising cost of a college education — and more importantly, the hefty loans that often follow — was a pre-pandemic problem that's only been exacerbated over the last several months.Roughly 45 million Americans currently hold .6 trillion on student debt — about 95% of it is held by the federal government.It's a major financial burden, especially in a time when unemployment has skyrocketed and the economy suffers through a pandemic-induced recession.Student debt averages to be about ,000 to ,000 per individual, with payments between 0 and 0 a month.Sen. Chuck Schumer is calling for the government to forgive up to ,000 per borrower. The Biden campaign had also suggested student debt forgiveness up to ,000.This story was first reported by Corey Crockett and Craig Treadway at WPIX in New York, New York. 840

The stomach-churning market scare continues.The Dow tumbled 546 points, or 2.1%, on Thursday following another rollercoaster session. The index briefly turned positive during morning trading before succumbing to heavy selling pressure. At one point the Dow was down 699 points. The Dow has shed 1,378 points over the past two days.The mood on Wall Street was only slightly calmer than Wednesday's 832-point nosedive.The S&P 500 closed down 2.1%, notching its sixth-straight losing session. It's the longest slump for the broad index since just prior to President Donald Trump's election more than two years ago.The Nasdaq briefly tumbled into a correction, signaling a 10% decline from previous highs. But the index climbed out of correction territory and closed down 1.3%.All three major indexes have lost more than 5% this week. That hasn't happened since March."This kind of washout doesn't get accomplished in a day. Even though yesterday felt traumatic, it tends to be a three-day process," said Art Hogan, chief market strategist at B. Riley FBR.The VIX volatility index touched its highest level since February.One positive is that unlike on Wednesday, the market did not close on the lows of the day. The rebound was helped by fresh?reports that President Donald Trump and Chinese leader Xi Jinping have agreed to meet next month at the G-20 summit. Such a meeting could ease fears that the US-China trade war will hurt corporate profits and slow the US economy.Tech stocks have come under fire because they are some of the riskiest and most expensive parts of the market. Investors fear how these momentum names will hold up in a downturn, particularly as interest rates spike. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday."Halloween started early this month for investors," Ed Yardeni, president of investment advisory firm Yardeni Research, wrote to clients.The afternoon sell-off comes even though a new report showed that consumer prices rose less than expected in September.Stocks have turned sharply south in large part because investors are concerned about rising interest rates. As the Federal Reserve raises rates to prevent runaway inflation, investors have been getting out of bonds, driving down their price and driving up their yields. Suddenly, the return on bonds has become competitive with some stocks — particularly risky tech stocks.Rising interest rates also increase borrowing costs for households and businesses, eating into corporate profits. 2551