House Votes to Fund Government, Gut Obamacare

The House approved legislation on Friday to keep the government open past Sept. 30, but also to eliminate funding for "Obamacare."

The vote marked an opening gambit by the GOP just 10 days before the deadline at which the government will run out of money, causing a myriad of federal services to cease. The provision gutting health care reform was intended to mollify conservatives who have vowed not to fund the government unless the landmark law is eradicated.

But the measure faces almost certain doom in the Senate, where Democrats have said they would vote to restore funding for the Affordable Care Act. And even if they were to fail, President Barack Obama has flatly promised to veto the bill.

The posturing by the Republican-controlled House means Washington now faces a narrow window of opportunity to reach an ever-elusive consensus over how to continue government operations, and avoid a politically-costly shutdown.

If no resolution is reached, a shutdown threatens to harm the economy and place scores of government workers out of work for an undetermined period of time. Wall Street appeared unconcerned by the developments, though, expecting lawmakers to reach an 11th-hour accord as they have in virtually every previous showdown.

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