U.S. Government Shutdown Continues After Congress Fails to Pass Budget More than 700,000 government workers remain furloughed after the U.S. Congress fails pass a budget bill on October 1, plunging the nation into its first shutdown since 1995.

A faction of Republicans in the U.S. House of Representatives sought a delay in implementing a portion of President Obama’s signature healthcare law—known as Obamacare—that took effect on October 1.

GOP members want to delay the opening of insurance exchanges for millions of uninsured Americans, that launched on Tuesday.  The Supreme Court upheld the law at the end of its term in June.

Goldman Sachs estimates a three-week impasse could shave as much as 0.9 percent from U.S. GDP this quarter.

President Obama took to national television to warn that the shutdown would have, “a very real economic impact on real people, right away,” adding it would, “throw a wrench” into the U.S. recovery.  The President met with congressional leaders at the White House last night but failed to reach a deal.

While government agencies, such as the Department of Homeland Security, continue to function, others, such as the National Parks, are closed.  Read more about the shutdown here: http://www.bbc.co.uk/news/world-us-canada-24343698

By CWAN Global Press

The Canadian Wealth Advisors Network (CWAN) was established in March of 2009 as an online forum where investment professionals share ideas and best practices that allow them to meet the growing needs of their clients. As the CWAN community grew and evolved, it was expanded to serve both advisors and investors. Garnet O. Powell, MBA, CFA is the Editor-in-Chief of the Canadian Wealth Advisors Network (CWAN) magazine. He is an investment management professional with more than 20 years of experience. linkedin.com/in/garnetpowell

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