Ben what happening in american

i was talking to someone that their an risk that USA could defaulting or dollar to collapse???

Far as i know they are just being * and arguing for no reason! This is why i hate having two major parties in countries, they disagree and the whole country shuts down! Its ridiculous.

The argument is about the debt celing. If Congress does not raise it by 17 October the government will not be authorized to pay a loan. Essentially they just need to pass legislation that raises the limit on what they can spend.

Actually the 17th the US Treasury won't be authorized to borrow more money. They will have to prioritize payments as the US doesn't have enough money to operate at the current level without incurring more debt. For the past umteen number of years where debt financing is necessary to run the government budget items, both parties have used crisis as an opportunity to try to get concessions for items they normally can't accomplish when everything is smooth. Historically, this is not something unusual. However, the republicans want to lower government spending which the democrats are reluctant to do (actually, really are opposed to doing). Therefore they are refusing to agree to authorize the treasury to continue their normal procedures of borrowing without the democrat run senate and white house agreeing to seriously discuss budget cuts.

My guess is they will pass an 11th hour temporary bill that states there has to be some discussion for debt reduction.

The bane of party politics is game theory... They both play. While one or another party claims victory, the people usually lose.

Rest easy people, I don't think the dollar will collapse nor will there be a default (the government has enough money to continue to limp along for quite a while - some social programs like social security, medicare and tax refunds will simply be delayed - bond interest and such will continue to be paid). Both can be averted and if they push it to that end, nobody wins. Republicans and Democrats still at the end of the day have the power to end this at any time, they just are trying to get their own agenda's and playing chicken with each other. Nothing new here.

In 1996-1997 we went 21 days in this situation. We are only on day 7 this time.