Both houses of Congress passed a stopgap bill that would extend funding for the federal government until March. This marks yet another stopgap bill that gives more time for Congress to come to a more permanent consensus on long-term funding plans. It seems, however, to have little effect on the overall markets, raising questions about whether or not investors truly care about fears of a shutdown.
American Action Forum President Doug Holtz-Eakin joins Yahoo Finance to discuss the recent measures taken by Congress, what they mean for investors, and what it means for the federal government's handling of its financials.
Holtz-Eakin lays out what should concern investors most: "The major concern should be that if the government gets shut down, the rating agencies take this as another piece of evidence that the US is unable to manage his finances and you get another... negative watch, downgrade to the credit rating. That's a big deal, and investors should care about that. The larger issue here is the capacity of our political system to manage the federal finances."
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