WASHINGTON (WJLA) -- After seeing a record high for the DOW last week, it was a rockier ride on Monday for investors nervous about the real possibility of a government shutdown next week -- as well as a possible U.S. default on debt later in the month.
"Some are actually willing to plunge America into default if they can't defund the Affordable Care Act," said Obama.
Republican Rep. Trey Radel of Florida responded: "Basically what he is saying is, 'write me a blank check and don't ask me questions.'"
On Monday, the Senate received the funding bill passed by the House that would keep the government open through the end of the year – but that bill strips all funding for Obamacare. That’s a non-starter for the Democrat-controlled Senate.
And with no solution in sight, government administrators are sending warnings about what to expect:
Hundreds of thousands of federal workers would be furloughed without pay – at least until a compromise is reached that would include possible retroactive pay.
Only workers deemed essential to national security and safety will remain on the job. Federal parks, zoos, libraries, and museums would all be closed. Housing and student loan applications will be delayed, and the processing of new passports and visa applications will be suspended.
But Uncle Sam will not wait for any tax payments you owe – those still have to be sent. Any refunds you may be expecting could also be delayed.
Mail will be delivered, along with social security, Medicare, Medicaid, and veterans’ benefits, but some payments could be late. Expect backlogs for any new claims.
Even with time running out, Senate rules still have to play out. This means no vote on the House bill until at least Wednesday.
If conservatives follow through with a filibuster, it could be Sunday before the Senate has a bill. Then it goes back to the House potentially next Monday, only giving members there until midnight next Monday to either make a deal or shut the government down.