The current US federal government shutdown - which is more of a slowdown - has merely set the stage for an even more nerve-racking deadline on October 17 when the US will cross their debt ceiling. At most the government could get by for another couple of weeks with $30bn cash on hand, but without a deal the US will in effect be in default in a couple of weeks.
The sequester was a legislative tool designed to scare the Congress into doing its job. It clearly seems to have failed to produce this result. If it goes into effect, the sequester means across the board cuts in every agency of federal government with no ability to control what is cut and what is not.
US Senators have passed a bill that will raise the debt ceiling and stop the country defaulting on its loans, but cut government spending by $2.1 tril...
While thousands of miles away I'm glued to the US debt ceiling debate. Not because it's particularly interesting but because the unfolding situation, still pretty much in its infancy, will have a direct and lasting impact on the place I was born, the place I grew up and all the places, institutions and communities I now work with to improve.