Government Shutdown Day 7: It wasn’t a very good weekend for my sports teams. The Kansas City Chiefs won and are 5-0. And, the Boston Bruins are 2-0. But, in car racing and baseball and college football, nothing came out as I wanted. And, my son crushed me this weekend in our NFL fantasy league, although I did win our NASCAR fantasy league this week. Ah, but there is always next weekend.
Such is not the case with the government shutdown. For, as John Boehner now quite famously quipped at a press conference on Friday in response to a question about the president saying he was “winning”, “This is not some damn game!” So, what happens next? What will break the stalemate?
It is quite clear now that this is no longer just about the shutdown and funding the government for the year, but it is also about the debt limit. The Treasury Department has been saying that by October 15th, they would have exhausted all borrowing authority and will be left with about $30 billion in cash. Independent analysts believe that the $30 billion buys them about another 7 to10 days. That gets you until October 22-26. But, those same analysts are… Read More