Quote:
Originally Posted by Calgaryborn
We don't know how much a government shut down will effect the markets. Also, if the tea party gets their way and cuts entitlements while reforming the tax code you might see some quick gains once an agreement is reached.
Anyways for the Teaparty House Representatives it is a matter of keeping their promise to the electorate.
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While its true no one is really sure of exactly how the markets will react there is one word to sum it up: badly. The teaparty must be dreaming if they think anything else will happen.
Heres a Coles notes of where we are, sort of put in personal finance terms. You run around and sign for a bunch of spending...the Visa bill shows up and the debate is whether you should pay it.
Congress has already authorized the spending. By law though the treasury has to have them raise the ceiling to pay for it. To even contemplate not paying at this point is just ridiculous, whether you made electoral promises or not.