Page 7 - Shutdown Doesn T News Today

Notice, because we are not talking about single grand event, but a series of vents that start with the shutdown. if you go to the airport, it will be operating, and the military and the customs and the border patrol are in business and the postal system and the banks are all open, and the federal courts, and all of the local services paid for by your local taxes like schools and police and firemen are still in business. still, "usa today" did an analysis where they said that 40% of the governmen...

Is ticking, and all of the smart money on the shutdown and what then? pressure ahead? better to have the shutdown now to compel the people to come together or mid month when the debt ceiling is coming soon, because then it is not grandstanding, but the full faith and credit of the united states and that is a gut shot. >> and speaking of wall street, lets go to the new york stock exchange where zain asher is, and the dow is coming down 127 point, and bring us up to date. >> yes, we are also down ...

I think that it is politicians efforts to really just put their agendas through and not get the work done. >> the impact of a shutdown would be far reaching. it would hurt the economy and putting a hold on the paychecks and hiring. some 783,000 federal workers would face unpaid leave, and this morning, wall street is facing a hit. investors hate uncertainty, and stocks are down quite a bit this morn morning. we will take you to wall street in a second. also, it is affecting everything from home ...

Housing market. >> a lot of other things would be affected, too. lets start with food safety for example. >> thats right. when it comes to food safety, were talking about the usda, also talking about the fda. when it comes to the usda, they will continue meat inspections but the food and drug administration will not be able to support the majority of its food safety nutrition and cosmetics activities. it will have to stop routine inspections, but they still will continue to issue high-risk recal...

Opportunity for people who have been waiting on the sidelines. >> thats looking at the glass half full. if the stock market tanks today that might put some pressure on lawmakers to come to some sort of agreement. >> yes, absolutely. you know, i do also want to mention that the s&p 500, if you look at previous government shutdowns the s&p 500 fell about 3.7% during the last shutdown from 95 to 96 and it rebounded higher by about 10% the month following so its going to be interesting to see but th...

Pressure on the other stuff to get the deal done. >> thank you, congressman. appreciate it. home buyers who have applied for fha-backed loans will have to put the plans on hold if there is a government shutdown. christine romans is in new york with more on that. >> yes, that is right, carol. these are fha-backed loans and if you havent had that endorsement yet from the fha, you have to wait until after the shutdown is over. let me tell you exactly what we are talking about, fha-backed loans wh...

Carol. rest assured congress will be paid even though congress has not done its job and could be putting us on the brink of a shutdown. look at other services here that are incredibly important, federal courts can remain open for ten days, enough operating functions for that, passport offices unless theyre in a federal office building passports, visas will be issued. air traffic control, border protection, key parts of the department of defense, the power grade will be maintained, all are still ...

>> if i ran my house the way the government is running the country id be bankrupt. >> pass the budget and pass the debt limit, youve made your point. let us keep improving the economy. dont play games anymore, please. >> soldier also start receiving those ious come mid-october. many of you want to see congress get its act together and pass a bill to keep the government running. john king breaks down the latest cnn/orc poll numbers on the gridlock in washington. >> first and foremost, there is ...

This is about fairness. he has given exemptions for delays for big business, special interests, and even congress. i mean, what about fairness for the american people? this is about fairness. why should the average middle-class american be, i mean, subjected to the enactment of this? >> it will hurt the average middle-class americans the most. >> harry reid wants the government to shutdown, and no republican is advocating for it. >> and everyone is saying that known wants it to shutdown, and if ...

If they cant get this reinvolved today. mark zandi from moodys agrees you could see $ 00 million of economic activity vanish every day and it will get magnified as the shutdown goes on. carol, if this goes on for three or four weeks you could cut economic growth in half, thats not good for anybody. >> christine romans i know youll be keeping an eye on things, we appreciate it. more on the government shutdown in a minute but first checking other top stories at 47 minutes past the hour. how succes...