Mortgage

Threat of government shutdown increases

The deadline for the government to approve 12 appropriation bills is a week away. With gridlock threatening the chance of a seamless resolution, Congress is starting to prepare for the threat of a government shutdown rather than discussing the looming debt ceiling debate. Per Reuters:

"I am nervous by the desire to drive this to the last minute," Treasury Secretary Jack Lew told a business forum last week. Lew described himself as "anxious."

"Since irreconcilable differences are hardening. There is an increased likelihood that Congress and the president will not agree to raise the debt ceiling before time runs out," Ray Dalio, founder of Bridgewater Associates, one of the world's largest hedge funds, wrote in a report.

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