US Shutdown
No End In Sight
by-
………………………………………………………….Vikrant &Shivam
The US financial year ends at midnight on September 30.
Under US law, a new bill to approve funding for the next
financial...
OBAMA CARE
 IT IS IMPORTANT TO KNOW “OBAMACARE” AS IT IS THE CHIEF REASON WHY
REPUBLICANS DIDN’T CONSENT TO THE BUDGET. I...
KEY FEATURES OF “OBAMACARE”
Gauranteed insurance issue to every one disregarding the
past conditions(except alcohol or chr...
SOME PRELIMINARY INFORMATION.
Budget
USA
Passed on
october1, as
financial year
ends.
INDIA
Presented on
february 28 , as
f...
IT'S A POLITICAL CRISIS -: THE REPUBLICAN PARTY
CONTROLS THE LOWER HOUSE OR HOUSE OF
REPRESENTATIVES, WHILE THE DEMOCRATS ...
ObamaCare is the unofficial name for The Patient
Protection and Affordable Care Act which was signed into
law on March 23,...
• HOW CAN THE SHUTDOWN BE BROKEN?
Congress could pass a new "clean" funding plan, which doesn't
include a delay to the aff...
HOW WILL IT AFFECT US
CITIZENS?
• Essential services will continue. The military and other agencies
involving safety and s...
EFFECT ON INDIA.
• ONE GOOD FACT IS THAT IF SHUTDOWN CONTINUES IT WILL BE HARD FOR US
FED. TO STOP THE $85 BILLION PER MON...
Us shutdown (updated)
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Us shutdown (updated)

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there have been some updates to make it a little more clear.
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Us shutdown (updated)

  1. 1. US Shutdown No End In Sight by- ………………………………………………………….Vikrant &Shivam
  2. 2. The US financial year ends at midnight on September 30. Under US law, a new bill to approve funding for the next financial year must be approved by the House of Representatives, the Senate and the president before the financial year ends. This has not happened this year. In such a situation, the government does not have the legal authority to spend money and it is called a shutdown. The government stops providing for all but essential services such as police, fire fighting, social security and Medicare payments. WHAT IS THE US SHUTDOWN?
  3. 3. OBAMA CARE  IT IS IMPORTANT TO KNOW “OBAMACARE” AS IT IS THE CHIEF REASON WHY REPUBLICANS DIDN’T CONSENT TO THE BUDGET. ITS OFFICIALLYCALLED THE PATIENT PROTECTION AND AFFORDABLE HEALTHCARE ACT, 2010. IT AIMS TO IMPROVE QUALITY AND AFFORDABILTY OF INSURANCE, BUT OPPOSITIONIS DOING ITS BEST TO STOP IT AS IT SEES IT AS AFRICAN-AMERICANPEOPLE FRIENDLY AND AGAINST WHITES. CONGRESS Senate Republicans +democrats House of Representatives Republicans + democrats Congress Structure.
  4. 4. KEY FEATURES OF “OBAMACARE” Gauranteed insurance issue to every one disregarding the past conditions(except alcohol or chronic disease.) Minimum standards for health issued. Penalty on uninsured people. Subsidy raised. Opening health insurance exchanges in every state to compare and chose policy.
  5. 5. SOME PRELIMINARY INFORMATION. Budget USA Passed on october1, as financial year ends. INDIA Presented on february 28 , as financil year ends. • 2 types of Spending- while Mandatory is not affected by anything , Discretionary requires renewal every year and needs to be pased by the Gov. • If budget is not cleared in the US congress before Oct. 1 , GOV.’s ability to spend is restricted. • In order to continue previous policies the gov. can pass a continuing resolution to continue spending at current levels. • CONTINUING Resolution- It allows the government to continue to spend at current levels until the bill is cleared. • “clean” CR=CR without policy changes. Mandatory spending Discretionary spending.
  6. 6. IT'S A POLITICAL CRISIS -: THE REPUBLICAN PARTY CONTROLS THE LOWER HOUSE OR HOUSE OF REPRESENTATIVES, WHILE THE DEMOCRATS CONTROL THE SENATE. THE REPUBLICAN-CONTROLLED HOUSE HAS PASSED A SPENDING BILL THAT MAINTAINS SPENDING LEVELS BUT DOES NOT PROVIDE FUNDING TO IMPLEMENT THE AFFORDABLE CARE ACT, OR OBAMACARE. THE DEMOCRATIC SENATE INSISTS THAT THE BILL BE FULLY FUNDED. Republicans want "Obamacare" delayed, Democrats don't. WHAT LED TO THE SHUTDOWN?
  7. 7. ObamaCare is the unofficial name for The Patient Protection and Affordable Care Act which was signed into law on March 23, 2010. The Act includes a number of reform measures such as setting up a Health Insurance Marketplace where Americans can purchase Federally regulated and subsidized health insurance.
  8. 8. • HOW CAN THE SHUTDOWN BE BROKEN? Congress could pass a new "clean" funding plan, which doesn't include a delay to the affordable healthcare act. Or the senate and the white house accept such a delay in the bill. Or any other compromise formula. • WHAT IF CONGRESS FAILS TO RESOLVE IT IN TIME? It could be disastrous. The government might be forced to immediately slash spending by 32 per cent, the bipartisan policy center estimates. The government could miss interest payments on treasurys, triggering a first-ever default by the U.S. Government. US treasurys are held by banks, governments and individuals worldwide. A prolonged default could lead to a global financial crisis.
  9. 9. HOW WILL IT AFFECT US CITIZENS? • Essential services will continue. The military and other agencies involving safety and security would continue to function. • The President's $400,000 salary will be paid. Congress wont have a pay cut. • About one-third of the government will shut down. About 800,000 of federal employees will be sent home without pay. • National parks will close. The environmental protection agency, NASA and other agencies will close most operations.
  10. 10. EFFECT ON INDIA. • ONE GOOD FACT IS THAT IF SHUTDOWN CONTINUES IT WILL BE HARD FOR US FED. TO STOP THE $85 BILLION PER MONTH QUANTITATIVE EASING. • BAD NEWS IS IF SHUTDOWN CONTINUES, INDIA’S EXPORT WILL GET AFFECTED AS US IS A MAJOR CLIENT FOR INDIA’S EXPORTS.20% OF ENGINEERING EXPORTS FROM INDIA GO TO USA. • IMMIGRENT VISA ISSUE PROCEDURE WIL ALSO BE AFFECTED,

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