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Saturday, October 12, 2013

Why US Economy is Shutdown??

There are indications coming that US debt ceiling may be raised. Republican leaders said they would vote to extend the government’s borrowing authority for six weeks. If they failed to raise debt ceiling then there are very chances of US default which will derail the economy. There are hopes coming that US short term debt ceiling may be raised. Due to US Market Shut down commodity prices are cooled off as Gold Declined sharply from 32000/- to 28000/- and same to other commodities. If US economy fails then there will be cascading effect on all countries. US officials said that if they will not be raise debt ceiling then US will unable to pay bills. US officials said that their Govt. will exhaust it's 16.7 Trillion Dollars by 17th Oct. which is fixed by US economists. Now US is having only 30 billion Dollars remaining that will not be enough for payment of salaries , social Services and Interest of Trillions borrowed.US hasn't defaulted Since 1790. There are two Parties in US - One is Barack Obama's Democrats and Second is Republicans. The Republicans say they are ready to raise the debt ceiling after they negotiate with the Democrats over how to reduce the amounts the government spends for social programs. But the Democrats say they will negotiate only after the ceiling is raised.But Both Parties wants US not to default on payments. That will cause Shutdown of US economy.

Why US Economy is Shutdown??

There are indications coming that US debt ceiling may be raised. Republican leaders said they would vote to extend the government’s borrowing authority for six weeks. If they failed to raise debt ceiling then there are very chances of US default which will derail the economy. There are hopes coming that US short term debt ceiling may be raised. Due to US Market Shut down commodity prices are cooled off as Gold Declined sharply from 32000/- to 28000/- and same to other commodities. If US economy fails then there will be cascading effect on all countries. US officials said that if they will not be raise debt ceiling then US will unable to pay bills. US officials said that their Govt. will exhaust it's 16.7 Trillion Dollars by 17th Oct. which is fixed by US economists. Now US is having only 30 billion Dollars remaining that will not be enough for payment of salaries , social Services and Interest of Trillions borrowed.US hasn't defaulted Since 1790. There are two Parties in US - One is Barack Obama's Democrats and Second is Republicans. The Republicans say they are ready to raise the debt ceiling after they negotiate with the Democrats over how to reduce the amounts the government spends for social programs. But the Democrats say they will negotiate only after the ceiling is raised.But Both Parties wants US not to default on payments. That will cause Shutdown of US economy.