Best of the Week
Most Popular
1. US Housing Market Real Estate Crash The Next Shoe To Drop – Part II - Chris_Vermeulen
2.The Coronavirus Greatest Economic Depression in History? - Nadeem_Walayat
3.US Real Estate Housing Market Crash Is The Next Shoe To Drop - Chris_Vermeulen
4.Coronavirus Stock Market Trend Implications and AI Mega-trend Stocks Buying Levels - Nadeem_Walayat
5. Are Coronavirus Death Statistics Exaggerated? Worse than Seasonal Flu or Not?- Nadeem_Walayat
6.Coronavirus Stock Market Trend Implications, Global Recession and AI Stocks Buying Levels - Nadeem_Walayat
7.US Fourth Turning Accelerating Towards Debt Climax - James_Quinn
8.Dow Stock Market Trend Analysis and Forecast - Nadeem_Walayat
9.Britain's FAKE Coronavirus Death Statistics Exposed - Nadeem_Walayat
10.Commodity Markets Crash Catastrophe Charts - Rambus_Chartology
Last 7 days
Silver Bull Market Update - 7th Aug 20
This Inflation-Adjusted Silver Chart Tells An Interesting Story - 7th Aug 20
The Great American Housing Boom Has Begun - 7th Aug 20
NATURAL GAS BEGINS UPSIDE BREAKOUT MOVE - 7th Aug 20
Know About Lotteries With The Best Odds Of Winning - 7th Aug 20
Could Gold Price Reach $7,000 by 2030? - 6th Aug 20
Bananas for All! Keep Dancing… FOMC - 6th Aug 20
How to Do Bets During This Time - 6th Aug 20
How to develop your stock trading strategy - 6th Aug 20
Stock Investors What to do if Trump Bans TikTok - 5th Aug 20
Gold Trifecta of Key Signals for Gold Mining Stocks - 5th Aug 20
ARE YOU LOVING YOUR SERVITUDE? - 5th Aug 20
Stock Market Uptrend Continues? - 4th Aug 20
The Dimensions of Covid-19: The Hong Kong Flu Redux - 4th Aug 20
High Yield Junk Bonds Are Hot Again -- Despite Warning Signs - 4th Aug 20
Gold Stocks Autumn Rally - 4th Aug 20
“Government Sachs” Is Worried About the Federal Reserve Note - 4th Aug 20
Gold Miners Still Pushing That Cart of Rocks Up Hill - 4th Aug 20
UK Government to Cancel Christmas - Crazy Covid Eid 2020! - 4th Aug 20
Covid-19 Exposes NHS Institutional Racism Against Black and Asian Staff and Patients - 4th Aug 20
How Sony Is Fueling the Computer Vision Boom - 3rd Aug 20
Computer Gaming System Rig Top Tips For 6 Years Future Proofing Build Spec - 3rd Aug 20
Cornwwall Bude Caravan Park Holidays 2020 - Look Inside Holiday Resort Caravan - 3rd Aug 20
UK Caravan Park Holidays 2020 Review - Hoseasons Cayton Bay North East England - 3rd Aug 20
Best Travel Bags for 2020 Summer Holidays , Back Sling packs, water proof, money belt and tactical - 3rd Aug 20
Precious Metals Warn Of Increased Volatility Ahead - 2nd Aug 20
The Key USDX Sign for Gold and Silver - 2nd Aug 20
Corona Crisis Will Have Lasting Impact on Gold Market - 2nd Aug 20
Gold & Silver: Two Pictures - 1st Aug 20
The Bullish Case for Stocks Isn't Over Yet - 1st Aug 20
Is Gold Price Action Warning Of Imminent Monetary Collapse - Part 2? - 1st Aug 20
Will America Accept the World's Worst Pandemic Response Government - 1st Aug 20
Stock Market Technical Patterns, Future Expectations and More – Part II - 1st Aug 20
Trump White House Accelerating Toward a US Dollar Crisis - 31st Jul 20
Why US Commercial Real Estate is Set to Get Slammed - 31st Jul 20
Gold Price Blows Through Upside Resistance - The Chase Is On - 31st Jul 20
Is Crude Oil Price Setting Up for a Waterfall Decline? - 31st Jul 20
Stock Market Technical Patterns, Future Expectations and More - 30th Jul 20
Why Big Money Is Already Pouring Into Edge Computing Tech Stocks - 30th Jul 20
Economic and Geopolitical Worries Fuel Gold’s Rally - 30th Jul 20
How to Finance an Investment Property - 30th Jul 20
I Hate Banks - Including Goldman Sachs - 29th Jul 20
NASDAQ Stock Market Double Top & Price Channels Suggest Pending Price Correction - 29th Jul 20
Silver Price Surge Leaves Naysayers in the Dust - 29th Jul 20
UK Supermarket Covid-19 Shop - Few Masks, Lack of Social Distancing (Tesco) - 29th Jul 20
Budgie Clipped Wings, How Long Before it Can Fly Again? - 29th Jul 20
How To Take Advantage Of Tesla's 400% Stock Surge - 29th Jul 20
Gold Makes Record High and Targets $6,000 in New Bull Cycle - 28th Jul 20
Gold Strong Signal For A Secular Bull Market - 28th Jul 20
Anatomy of a Gold and Silver Precious Metals Bull Market - 28th Jul 20
Shopify Is Seizing an $80 Billion Pot of Gold - 28th Jul 20
Stock Market Minor Correction Underway - 28th Jul 20
Why College Is Never Coming Back - 27th Jul 20
Stocks Disconnect from Economy, Gold Responds - 27th Jul 20
Silver Begins Big Upside Rally Attempt - 27th Jul 20
The Gold and Silver Markets Have Changed… What About You? - 27th Jul 20
Google, Apple And Amazon Are Leading A $30 Trillion Assault On Wall Street - 27th Jul 20
This Stock Market Indicator Reaches "Lowest Level in Nearly 20 Years" - 26th Jul 20
New Wave of Economic Stimulus Lifts Gold Price - 26th Jul 20
Stock Market Slow Grind Higher Above the Early June Stock Highs - 26th Jul 20
How High Will Silver Go? - 25th Jul 20
If You Own Gold, Look Out Below - 25th Jul 20
Crude Oil and Energy Sets Up Near Major Resistance – Breakdown Pending - 25th Jul 20
FREE Access to Premium Market Forecasts by Elliott Wave International - 25th Jul 20
The Promise of Silver as August Approaches: Accumulation and Conversation - 25th Jul 20
The Silver Bull Gateway is at Hand - 24th Jul 20
The Prospects of S&P 500 Above the Early June Highs - 24th Jul 20
How Silver Could Surpass Its All-Time High - 24th Jul 20

Market Oracle FREE Newsletter

How to Get Rich Investing in Stocks by Riding the Electron Wave

U.S. Government Shutdown Synopsis And Which Payment Are Due When

Politics / US Politics Oct 15, 2013 - 12:05 PM GMT

By: Sahil_Hafeez

Politics

Shutdown synopsis - Here's a summary of where things stand:

 October 1 - Day 1 of the administration shuts down. The news shows veterans who can't visit the WWII Memorial, and cancer patients who can't advantage treatment trials at the National Institute of Health.

 October 2 - House Republicans send a bill to the Senate that finances national parks, and veterans' programs.


 October 3 - Obama approaches the House to carry the Senate's "clean continuing resolution" to a vote.

 October 4 - Speaker Boehner recognizes interfacing a complete budget negotiation with raising the debt ceiling.

 October 5 - Defense Department gets back to regular civilian employees to work.

 October 6 - Boehner won't finance government or raise the debt ceiling without a budget negotiation.

 October 7 - Republicans utilize the debt ceiling and discretionary budget process to cut spending on Medicare, Medicaid and Obamacare. These are all Mandatory programs, and not subject to the twelvemonth budget process.

 October 8 - The shutdown influences veterans, and food safety. Obama says he will negotiate a budget, however not with "the threats of an administration shutdown or economic chaos over the leaders of the American individuals."

 October 9 - President Obama assembles for conferences with House Democrats and House Republicans.

 October 10 - House Republicans meet with President Obama.

 October 11 - Republicans consent to debt ceiling and conceivably revive government in return for budget talks with the President and Democrats.

 October 12 - House Republicans surrender negotiated with the President, moving the load of result onto the Senate.

 October 13 - Senate Democrats need a one-year extension of the debt ceiling and easing of sequestration cuts.

 October14 - Senate talks split up as fears grow develop over markets' reaction.

The Treasury Department says it could begin defaulting on U.S. commitments after Oct. 17. Different evaluates propose it could be weeks until the U.S. achieves that focus. Key dates that investors and policy makers are viewing:

Oct. 17
What happens: The U.S. will debilitate crisis measures it has utilized since arriving at the $16.7 trillion debt limit in May. By this date, it hopes to have just $30 billion of cash and any incoming tax revenue to pay commitments. Unanticipated that evening, the government moves over, or replaces, $120 billion in maturing debt.
Why it matters: Missing the publicly established due date could shake investors and reduce the appetite for some debt, as the potential for a default draws closer.

Oct. 22
What happens: The first day the government could begin missing payments, as per examiners at the Congressional Budget Office and Bipartisan Policy Center.
Why it matters: Passing this date could be seen in markets as the begin of a more serious emergency.

Oct. 23
What happens: $12 billion in Social Security payments due
Why it matters: It is the first of numerous huge approaching payments. The Obama administration hasn't said openly if it is practical to pay Social Security beneficiaries while skipping other payments.

Oct. 24
What happens: A rollover of anyhow $93 billion in maturing debt, as per the Bipartisan Policy Center.
Why it matters: Investors could need higher interest rates on any debt, raising the cost to the U.S.

Oct. 28
What happens: Payment due on $3 billion in federal workers' salaries.
Why it matters: The halfway government shutdown has made remains skeptical about which employees will be paid and when. A month long shutdown is unrealistic to defer the date of a U.S. default by more than a few days.

Oct. 30
What happens: $2 billion in payments because of Medicaid providers
Why it matters: Missing the payment might throw question about the capacity to keep up backing for the medical services program in the close term.

Oct. 31
What happens: $6 billion interest payment due; the rollover of in any event $89 billion in maturing debt.
Why it matters: It will test if the administration might prioritize payments to debt holders over different commitments. Oct. 31 is likewise the last date of the CBO’s run for when the administration might even now have cash accessible to continue paying bills.

Nov. 1
What happens: $55 billion in Medicare, Social Security and military payments due
Why it matters: By this date, the Bipartisan Policy Center gauges the administration might have depleted any remaining reserves and would have to default on other payments.

Sahil Hafeez, CFA, FRM, MBA
Financial Analyst
sahilhafeez@ymail.com

Qualifications: MBA, CFA, FRM

Current City: Hong Kong

© 2013 Copyright  Sahil Hafeez - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules