US prepares for possible shutdown tomorrow October 1, 2013

Ad Majorem.....Wealth Builders

Repost from BBC news September 27, 2013

The US braces for a possible shutdown tomorrow, October 1, should the US Congress fail to agree;  the House of Representatives (Congress) is controlled by Republicans while the Senate is by Democrats.  Should the stalemate continue, a third of Fed employees will be sent on furlough with no backpay, the Treasury bills interest will not be paid with big repurcussions on US debt, its rating and bondholders.  The US Congress is not approving a budget without defunding the Obamacare law.

The authority to borrow more money expires on October 17, 2013.  This is not the first time that US govt shuts down.  In 2011, the US govt nearly went into shutdown because of wrangling on US debt limit.

A law however was passed enabling the payment of the salaries of the military

From CNN - 10 ways the government shutdown would affect your life

From USA Today 66 FAQ on govt shutdown

Dollar drops broadly because of possible Fed shutdwon

A bad case of politics rearing its ugly head to the detriment of the economy?

US Medicare SSS going broke soon?

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Repost from Newsmax | by Neil Weisman | May 31, 2013

The US SSS and Medicare Trust Funds will soon run out of funds:    SSS by 2033 and  Medicare by 2026 according to the report to the Board of Trustees.    The problem with this shortage is that Democrats and Republics cant agree on how to fix the problem.  The govt spending on these two accounts for 38% of the total federal spending.

Democrats do not want to cut the benefits and the Republicans wont raise the taxes.

Much of the burden of these two programs have been the babyboomers and many of them have reached the retirement age.  >>>Read more

Central Banks bending over to help various economies

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From: Moneynews.com  |  Sat, Apr 13, 2013 at 12:36 AM
Subject: Reinhart: Central Banks 'Bending Over Backwards' to Help Debt Crises

Reinhart: Central Banks 'Bending Over Backwards' to Help Debt Crises Special: Democrats' big advantage will disappear Invesco's Greenwood: Eurozone Faces 'Almost Endless' Depression Retail Sales Dropped in March by Most in Nine Months in Sign of Consumer Caution Sponsor Why Democrats could vanish Dear Reader, Here's something interesting, no matter what your political party affiliation. A prominent financial Journalist--based just outside of Washington, DC--says that in recent years, Democrats have had one HUGE advantage in the political system. But unbeknownst to most Democrats (and most Republicans too), this competitive advantage Democrats have enjoyed is about to completely vanish. And this will be a very, very big deal. When it happens, the whole political landscape is going to be turned on its head. And many of the programs, benefits, and promises Americans now take for granted will be threatened. I strongly recommend you check out this recent analysis. I can pretty much guarantee you won't see this story reported anywhere else, and it will almost certainly affect you and your family. We've posted the full story on our website, free of charge. You can view it here. Sincerely, George Rayburn Publisher, Stansberry Research To Read More Breaking Financial News go to Moneynews.com