PODCAST: Government shutdown is bad right? So how are politicians capitalizing on it?
U.S. House of Representatives Speaker John Boehner (R-OH). House Republicans did not find common ground with President Obama and Senate Democrats on the federal budget on Monday, which means segments of the federal government will close, hundreds of thousands of workers will be furloughed without pay and millions more will be asked to work for no pay.
Here and abroad, market reaction to the government shutdown that started overnight has mostly been muted. But later this month, the country will hit the debt ceiling. Failure by Congress to raise it would get a much stronger reaction than we're seeing this morning.
Turns out a government shutdown is a great time for politicians to raise money.
In an effort to curb its mounting debt, Japan is hiking its national sales tax, from 5 percent all the way to 8 percent.