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Deal Ends Partial Shutdown, Raises Debt Ceiling

8:24 AM, Oct 17, 2013   |    comments
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GREENSBORO - The big story of the day is the last minute deal to end the partial government shutdown and raise the debt ceiling.  But it's only a short term fix.  In the next 3 to 4 months we'll be dealing with this all over again.

The government is funded through Jan. 15, 2014.  The debt ceiling has been raised for 4 months, which means the U.S. Treasury can borrow money at least through Feb. 7, 2014.  The deal also calls for immediate long term budget talks.  The heads of 

The Good Morning Show brought in financial expert Michael Wittenberg from Wittenberg Priddy and Blankenship to talk about what this means for the U.S. and the economy.  Which means, the heads of budget committees have 57 days to find a compromise.

"It's like kicking a can.  It only delays the bigger problem and the need to find a long-term solution," said Wittenberg.

Wittenberg talked about the effects on Wall-Street, the financial markets and consumer spending.

Be sure to watch the videos included in this web story to see Wittenberg's answers.

 

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