Articles


  • US government shutdown! First in 17 years



    By icn.com

    The U.S. government officially began a partial shutdown at midnight after a deadlocked Congress failed to put the interests of American and a fragile economic recovery ahead of political gains. Republicans rejected a clear bill to avoid a shutdown by keeping their focus on stalling Obamacare over keeping the government open!

    The Democratic Senate rejected twice on Monday Republican demands to put President Obama’s health care reforms that will force millions of Americans to buy health insurance on hold for a year, a key struggle in the crisis but remains of political weight rather than needed action for now.

    Some 800,000 federal workers face furloughs in the shutdown, the important federal offices and operations will function but other services and offices will be shutdown including national parks.

    A partial government shutdown will initially cost the US economy an estimated $300 million per day of economic output, and grow further depending on how long the shutdown persists.

    As both parties failed to avoid a government shutdown the risk is now higher that the deadlock will persist on the debt ceiling; failure to agree to raise the borrowing limit will have a great consequence and force a US default.


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