The risk of a government shutdown is obviously bad for business, but according to some House Republicans, this action is the only way to stop the Obama administration from fully implementing Obamacare. To accomplish this feat, several lawmakers are proposing that the GOP either holds the debt ceiling or a government funding bill hostage in exchange for a full repeal.
Whether or not this idea actually holds water remains to be seen. House Speaker John Boehner, Republican from Ohio, has previously voiced caution regarding such ideas. However, his power within his own caucus has diminished in the past year and Boehner may feel compelled to plunge the nation into economic uncertainty in order to hang onto the gavel. Other members of the GOP, including House Majority Leader Eric Cantor, suggest that using these crucial legislative obstacles to stop Obamacare is worth the risk. However, one Congressional source told Reuters that a final decision had not yet been reached.
"There are plenty of discussions ongoing but no decisions at this point," the anonymous aide was quoted as saying.
Obviously, a government shutdown or a national debt default would have huge implications for the U.S. economy. Given the extensive relationship between the public and private sectors in the modern era, hundreds of thousands – if not millions – of jobs would be at risk. Additionally, the federal government's array of public assistance programs would be imperiled, imposing even harsher living conditions on those reliant on welfare.
With the U.S. government set to shut down on October 1 and a debt ceiling breach expected soon after, the bad blood between Democrats and Republicans will be on full display this fall. Independently minded investors should explore GreatWealthStrategies.com today to learn about automated trading software, cash flow real estate and other methods for negating the impact of dangerously misguided governance.