US government shutdown - your thoughts?

[K.I.L.L.]

I was in a meeting earlier when I saw on a screen that the US government shut down forcing around 800,000 workers to go on unpaid leave and medical research, pensions and other expenses will be put on hold. The shutdown was caused by their politicians who are currently having a major disagreement and cannot resolve their differences.

After seeing that, I called up some brokers to ask about stocks and other instruments, rates, exchange rate... Boy... Strange times indeed though I guess they had it coming. It makes me also wonder if the Philippine government might face a similar situation with all the corruption scandals it is currently facing.

What are your thoughts on this?

[redorange]

It is a partial shutdown essential personnel still report for work. The non-essential employees are on furlough but once a budget is passed the days they were on furlough will be back paid at some point like the last time there was a shutdown in the 90's. This won't last long because the GOP will figure out they have nothing to gain by doing this since the President isn't up for re-election and they have an election next year for Congress. They are already getting the blame for this because of their Tea Party members.

[yebo]

It is not the first time it has happened in the US. No big deal, it is just politics.

Philippine laws are different. If congress does not pass a budget then the previous year's budget automatically is extended. The president then has full authority to allocate the budget for infrastructure and capex as he/she pleases. Happened twice already during gma's tenure.

[redorange]

It is not the first time it has happened in the US. No big deal, it is just politics.

Philippine laws are different. If congress does not pass a budget then the previous year's budget automatically is extended. The president then has full authority to allocate the budget for infrastructure and capex as he/she pleases. Happened twice already during gma's tenure.

It's not a big deal to you because it doesn't affect you but to those who are affected it is a big deal.

[Mguy]

They should pass a law that it is illegal to have a shutdown because the only reason they do that is for political manuevring only and has no benefits whatsoever. It can be subject to abuse.

[Monseratto]

The first shutdown had the opposite effect during the presidency of Clinton. The Republicans led by then Speaker Newt Gingrich were blamed for it and Clinton's popularity rose enough to win him his second term. The Tea Party is testing the patience of the public...

[yebo]

It's not a big deal to you because it doesn't affect you but to those who are affected it is a big deal.

the TS mentioned about stocks market, exchange rate, etc. i was referring to that. please read the post not individually but as an answer to the question it was answering (the TS' post, not yours).

i know there will be a lot of people employed by the US federal government who will not get a pay check during the shut down. i was not referring to that nor was i answering your post.

[uls]

this Treasury Letter to Congress_100113 is a greater concern than the govt shutdown

[ghosthunter]

I was in a meeting earlier when I saw on a screen that the US government shut down forcing around 800,000 workers to go on unpaid leave and medical research, pensions and other expenses will be put on hold. The shutdown was caused by their politicians who are currently having a major disagreement and cannot resolve their differences.

After seeing that, I called up some brokers to ask about stocks and other instruments, rates, exchange rate... Boy... Strange times indeed though I guess they had it coming. It makes me also wonder if the Philippine government might face a similar situation with all the corruption scandals it is currently facing.

What are your thoughts on this?

My thoughts? ... this is the best time for the British to claim back it's American colonies....

[uls]

or...

[cpsolt]

the shutdown for me is the cost the US has to pay for being at war for the longest time now and trying to hold the prestige of being the one of the strongest militaries in the world is putting a strain on their economy.

[uls]

#shutdown

[CVT]

Anu-ano kayang National Parks ang nakasara?

Wawa naman ang nagtu-tour ngayon ng US....



21.2K:tomato:

[K.I.L.L.]

the shutdown for me is the cost the US has to pay for being at war for the longest time now and trying to hold the prestige of being the one of the strongest militaries in the world is putting a strain on their economy.

I thought they made money during those wars through selling weapons and defense systems?

[cpsolt]

the arms manufacturers/suppliers i guess... but not the govt.

[safeorigin]

I am not familiar with the American policy/procedure here, but this thing can really happen if there is a deadlock or political maneuvering...

Unlike here in the Philippines, which I heard from the news a couple of nights ago, if the budget has not yet been approved, then the departments can use last year's budget number, and so, there will be no immediately shutdown in "non-essential" government services.



21.2K:tomato:

It's supposed to be a mechanism to prevent the government from being too large in scope.

[brainmafia_310]

is it austerity measure that is masked by the showdown of both senate and congress, democrats and republicans?

[safeorigin]

Well, the US government was constitutionally conceived to be limited and they thought about preventing the country from irresponsibly putting itself into massive amounts of debt. History tells us that empires eventually collapse because it can't support itself with enough funding. The Fed and other banks have a lot of political power in the country.

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. -Thomas Jefferson

[Monseratto]

Dollar in a decline. Nice time to buy in dollar...With Christmas around the corner

[[archie]]

My thought is simply... F*ck democrats.