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Just yesterday we wrote about German stability - and now we are faced with American instability. The U.S. Congress and Administration could not agree on a budget to fund the activities of the federal government in the fiscal year that begins today. As a result, many federal government operations have been shut down, and its employees will be furloughed until the budget is funded. This is the first of two major confrontations over budget policy that will dominate the U.S. political landscape during October. The second debate will be over the debt ceiling, the maximum amount of outstanding debt the federal government is legally permitted. It was a confrontation over the debt ceiling back in 2011 that put Congress and the President in the position we see today.
Source : Cushman & Wakefield
