Chinese-Dragon
RETIRED TTA
- Joined
- Jul 9, 2010
- Messages
- 33,932
- Reaction score
- 52
- Country
- Location
BBC News - US begins government shutdown as budget deadline passes
Now watch global stock markets plummet!
The US government has begun a partial shutdown after the two houses of Congress failed to agree a budget.
The Republican-led House of Representatives insisted on delaying Mr Obama's healthcare reform - dubbed Obamacare - as a condition for passing a bill.
More than 800,000 federal employees face unpaid leave with no guarantee of back pay once the deadlock is over.
It is the first partial shutdown in 17 years.
The economic impact will depend on how long the deadlock lasts, but Goldman Sachs estimates a three-week shutdown could shave as much as 0.9% from US GDP this quarter.
Now watch global stock markets plummet!
Shortly after midnight, President Obama tweeted: "They actually did it. A group of Republicans in the House just forced a government shutdown over Obamacare instead of passing a real budget."
House Speaker John Boehner told reporters he hoped the Senate would accept an offer of conference with the House "so we can resolve this for the American people".