A behind-the-scenes congressional battle to avoid a U.S. government shutdown broke into public view on Thursday when Republicans produced a stop-gap funding bill that Democrats immediately rejected. The federal fiscal year ends on Sept. 30 and Congress must pass a spending measure by then to keep the government open.
I have believed for months that there may be a stock market crash or some kind of economic crisis on September 30. However, I personally believed that the odds of that were fairly low, maybe 10%. Now I believe that the odds are 50%. We will know very soon.