Update October 17, 2013:  President Obama signed the measure into law last night, ending the shutdown.

By Nadin Abbott

October 16, 2013 (San Diego)--Tonight both the House and the Senate voted to end the government shutdown and raise the debt ceiling—just in time to prevent the U.S. from defaulting on our national debt by tomorrow’s deadline. The measure will fund the Government until January 15 and raise the ceiling until February 17. Moreover, a conference committee between the House and the Senate to discuss the budget has finally been appointed.

Among San Diego’s Congressional delegation, only Republican Duncan Hunter was unwilling to prevent a default on America’s debts, casting a “no” vote.  Republican Darrell Issa joined with Democrats Susan Davis, Juan Vargas and Scott Peters to vote in favor of the continuing resolution to find the government and end the shutdown. Overall in the House, 285 voted yes and 144 voted no. 

The vote in the Senate was overwhelming, with 81 of 100 Senators voting for the bill, including most Republicans.  California Senators Barbara Boxer and Dianne Feinstein both voted yes.

By Nadin Abbott

October 9, 2013 (San Diego) As things go, this is not precisely the best of news. Fidelity has sold a lot of its government debt. So reports the Journal Sentinel.  Money market portfolio managers at Fidelity Investments have been selling off their government debt holdings over the last couple of weeks, said Nancy Prior, president of Fidelity’s Money Market Group. While Fidelity expects the debt ceiling issue to be resolved, the Boston-based asset manager said it is taking steps to protect investors.

Prior said that Fidelity no longer holds any U.S. debt that comes due in late October or early November, the window considered by many investors to be the most exposed if the government runs out of money and defaults on its obligations.

Now this is very dangerous news, since it means Fidelity is getting ready for the other shoe to fall. As we have been speaking here of the effects of this Constitutional Crisis, and how a minority of the minority does not believe this is actually serious. How could this affect you and me? We could see a crash, quite brutally honest. This is not good news. In fact, this is very scary news.

By Miriam Raftery

Since Congress failed to pass a spending bill by the September 30^th deadline, funding stops for many government services.  This occurred because House Republicans are refusing to approve any spending bill to keep the government operating unless it includes taking all funding away from federal healthcare reforms.  Democrats control the Senate, which has refused to approve such a measure and President Obama has said he would veto it even if the Senate passed it.

So how might this impact you or your family?

By Miriam Raftery

April 8, 2011 – Today is the deadline for Congress to approve a budget, or have the government shut down. But leaders in both major political parties say they are at an impasse. According to today’s Washington Post, “They can’t even agree on what they are disagreeing over.”

What are the issues, and how might you be impacted?