This Continuing Resolution only runs through December 11th. Technically, if they don't pass something else by then, we end up with another government shutdown starting Dec 12.
Since they (congress) did not address the pay raise issue, the President's recommendation of 1% in January continues- they still could derail that, but it would take an act of Congress for it not to go into effect now in January 2015.
See Congress Staves Off Government Shutdown
Look for another CR come December- most likely the last few days before this one runs out.
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