The US Congress had left itself a day until tomorrow to end a budget stalemate. The move was amid no signs of a breakthrough for the much debated increase in the country's debt limits and the defunding of the Obamacare. The risk had dramatically increased the first US government shutdown after 17 years.
The chamber had not been in session today and no evident negotiations were taking place. Lawmakers had been busy coming out on TV interviews to blame the other party for the budget stalemate.
Unless differences within the Congress regarding the country's budget would be resolved, as much as 800,000 federal employees would be on furlough. The national parks and Internal Revenue Service call centers might also close if a breakthrough in the Congress would not be imposed. Social Security payments would also continue along with Air traffic control.
The House, which was controlled by a majority of Republicans, had voted to authorize 10 weeks of spending starting October 1. This would take effect if much of the Obmacare would be delayed for a year. The Senate also defeated a similar measure last week and would reconvene session tomorrow afternoon.
Concerns regarding the national budget would hurt economic growth for the US. The budget issue in the US had pushed the S&P's 500 Index to its first weekly decline since August. The index dropped 0.4% to USD1691.75 last September 27. It also fell 1.1% last week. The 10 year Treasury notes rate had also fallen three basis points to 2.62%.
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