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US Shutdown Postponed Until January

October 13, 2013


It's like trying to bail out the Titanic to stop it from sinking. The hole just keeps getting bigger with the debt.

Imagine making $50K per year and owing $400,000 on your credit cards - then you'll get the picture. The US Government debt on the books right now is $17 trillion, or roughly 800% more than the government's annual income. See real-time debt figures at USdebtclock.org.

After shutting down for 16 days, the US government is open for business again - dirty business. Standard & Poor's says the shutdown in total cost the US economy $24 billion, or $1.5 billion per day.

"Hurray!", the workers will start getting paid again. "Boo!", workers have been looted out of two weeks pay while the government earned interest on it.

The Debt Ceiling Has Been Raised but the Shutdown has been postponed until January 15th. The Continuing Appropriations Act, 2014 will only provide funds until then. America's debt limit has been extended to February 7.

The media fear mongering over the deadline had Americans fearing the country would default on its debt. Everyone breathed a sigh of relief when the shutdown was averted and the United States avoided financial disaster...temporarily.

Yes, the USA avoided a national and global economic crisis and avoided having its credit status lowered...temporarily. The Fitch ratings agency put the US government's AAA credit rating on a downgrade warning. What will the rating be in 2014?

Major world powers have been helpless to protect their own economic interests, with many deeply invested in US Treasuries that were seen as a safe haven. China and Japan hold $2.4 trillion in US Treasuries.

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