Today Starbucks starts the launch of a Friday to Sunday national campaign to allow people to voice their frustrations in a collective and civil manner to present to Congress and the President in Washington DC to end the government shutdown which today marks its eleventh day. The government shutdown's key players are President Barack Obama, House Speaker John Boehner and Senate Majority Leader Harry Reid. The shutdown involves the disagreement on budget, taxes and the economy with main issues the Affordable Health Care Act, raising the debt ceiling, deficit spending and taxes.
On Thursday, Boehner and the House Republicans offered to raise the federal debt limit for six weeks to begin budget negotiations with the Senate Democrats and the White House. Democrats say the deal is a starting point for negotiations but have not embraced the offer because it doesn't end the partial shutdown of the federal government
Starbucks is present is almost every community across the nation and expects to have millions of signatures to support the end of the government shutdown and possible default on payments. Starbucks is providing a platform for the public to sign a non partisan petition to ask elected officials for three things:
Reopen government to serve the people
Pay debts on time to avoid another financial crisis
Pass a bipartisan and comprehensive long-term budget deal by the end of the year.
Starbucks CEO Howard Shultz has selected this weekend as the deadline for the U.S. to reach a resolution on the debt ceiling is October 17. Treasury Secretary Jacob Lew stated that the deadline to raise the debt ceiling is October 17 as the government would have $30 billion to meet its current debt obligations of an estimated $60 billion. Congress and President Obama are using the issue of raising the debt ceiling in an attempt to leverage larger budgetary concerns of the Affordable Care Act, deficit reduction and taxes.
Currently this is the eighteenth government shutdown in American history, but none have caused a stock market meltdown although investors are less likely to buy stocks as there is concern that a shutdown will weaken consumer confidence and the U.S. Economy. The last government shutdown occurred during the Clinton Administration and lasted 21 days from December 15, 1995 to January 6, 1996.
The major players in the last government shutdown were President Bill Clinton, House Speaker Newt Gingrich and Senate Majority Leader Bob Dole who could not agree on a plan to reduce the nation’s budget deficit as well as cuts to Medicare premiums. President Bill Clinton was also the last President to attempt to reform the United States Health Care system with the initiative led by Hillary Clinton which led to the government shutdown.
Don't forget to click SUBSCRIBE at the top to receive free email updates of new articles from Diane Straka. You must click the link in the email you receive to validate your subscription.