US Government faces partial shutdown

Graham_Devon

If a deal isn't struck by the end of the day.

Last happened in 1995 apparently, and according to commentators, the US is more likely to face the shutdown than agree a deal. However, we'll have to wait and find out I guess.

Could literally mean none essential government workers are told not to come to work tommorow. This could see up to 2.1m people staying at home with no guarantee of pay or back pay. How long it goes on for is anyones guess, however, based on last time this happened, public pressure would force the government to do something pretty quickly.

There are worries over the economic impact of a shutdown of the US government.
If the government does shut down on 1 October, as many as a third of its 2.1 million employees are expected to stop work - with no guarantee of back pay once the deadlock is resolved.

National parks and Washington's Smithsonian museums would close, pension and veterans' benefit cheques would be delayed, and visa and passport applications would be stymied.

Programmes deemed essential, such as air traffic control and food inspections, would continue.

Republicans are targeting President Barack Obama's healthcare law, popularly known as Obamacare.

Could be an interesting development to watch as an outsider, though feel for those effected if it does happen. Only a few weeks left until the debt ceiling is hit again too and the negotiations have to start all over again.

http://www.bbc.co.uk/news/business-24328353

Generali

Interesting times. It only gets serious for the rest of us in case of none payment of depts IMO.

Loughton_Monkey

Obama has been heard swearing and yelling in the corridors....

"Why, oh why, oh why didn't I do HTB 6 months ago like that Cameron boy did?"

Graham_Devon

Generali wrote: »

Interesting times. It only gets serious for the rest of us in case of none payment of depts IMO.

Robert Peston has suggested the partial shutdown will be serious, but not all that threatening to anyone outside of those effected. For everyone else in the US, it will be an inconvinience.

It will, however, he suggests, lead to questions over how far they are willing to go with the debt ceiling talks if they are willing to see a partial shutdown of government.

He suggests action on the debt ceiling other than another extension is extremely remote....but certainly more of a threat than it's been for some time.

Tancred

American politics is more polarised than ever. This is a worry - given the large standing military forces in that country there is always the threat of a coup if government stops working.

wotsthat

I predict the sky won't fall today, tomorrow or the day after.

grizzly1911

I wonder if they change the algorithm in this if the acorns do start falling.

http://www.usdebtclock.org/

If they did would we notice?

Loughton_Monkey

wotsthat wrote: »

I predict the sky won't fall today, tomorrow or the day after.

That's good. I've got at least until Friday then.

The sky is definitely still there. But I noticed the sun rapidly going down over the yardarm, so I'm off downstairs for a very large gin & tonic now.

I'm sure Graham will give us a clue as to the exact time on Friday it might cave in, but I'm hoping not until afternoon since I must get a haircut in the morning.

chucky

wotsthat wrote: »

I predict the sky won't fall today, tomorrow or the day after.

But I can predict and also guarantee that the Doomers will start a lot more threads.

Blacklight

Graham_Devon wrote: »

Robert Peston has suggested the partial shutdown will be serious, but not all that threatening to anyone outside of those effected. For everyone else in the US, it will be an inconvinience.

It will, however, he suggests, lead to questions over how far they are willing to go with the debt ceiling talks if they are willing to see a partial shutdown of government.

He suggests action on the debt ceiling other than another extension is extremely remote....but certainly more of a threat than it's been for some time.

On the basis that everything that bloke says is total bοllocks, I don't think we have much to worry about.

I think he was on the TV earlier having a dig at the US media for their over dramatic countdown clock of doom, then in the next sentence said "this could lead the world back into recession". Okay... whatever.

Loughton_Monkey

chucky wrote: »

But I can predict and also guarantee that the Doomers will start a lot more threads.

For sure. We seem rather short, recently, of the "young victims priced out of housing forever because boomers have bled two generations dry...." posts. I feel almost vindicated.

I just don't think we've discussed HTB enough. Surely there are a lot more angles left to it. Like, perhaps, a scandal of people who don't qualify not getting it, people who did qualify, got it, but didn't understand the rules, BTL people applying for it. Rich boomers applying for it. Lloyds bank advertising it. Other banks not advertising it. Mortgage Brokers cashing in on it. Estate Agents misleading people about it........

If house prices go up, HTB is wrong because it caused a bubble.
If house prices don't go up, HTB is wrong because it hasn't worked.