Matter to the market when washington is such a huge concern . And hitten debt storm, there is a developing crisis larger than detroit, this time puerto rico and if you think it doesnt affect you, look at your mutual fund. You may puerto rico funds and not know it. We have that and more on nightly Business Report for tuesday, october 8th. Good evening everyone and welcome. The war of words heated up and stocks and bonds cooled off again today with todays losses driven by the freezeup in washington over the debt limit and Government Shutdown, the dow shed all of septembers gains. Its down a staggering 900 points from the alltime closing high hit just three weeks ago. Thats nearly 6 and today was the worst day in six weeks for the s p 500 and nasdaq. That market fell 2 and volatility spiked to its highest level since june because there is seemingly no movement and no discussion between president obama and House Speaker boehner over the reopening of the government and averting a federal de
Are out lays. After october 17th, the payments come quickly for the United States government. On october 23rd, the u. S. Owes 12 billion in Social Security benefits. On october 31st, the pressurery must pay 6 billion but november 1st could be the highest hurdle of all, on that day the u. S. Must pay 67 million on a variety of expenditures. Retiree and veterans payments and sup mental security income. That is the date to watch if youre worried about the u. S. Missing a payment. It doesnt get easier after that. On november 13th, treasury must pay 12 million in Social Security benefits and on november 15th it must pay on quarterly interest. Bottom line, its impossible to say when the United States would miss the first payment but every day after the 17th, its going to get tougher and tougher to pay the bills. For nightly Business Report, im amemon javers in washington two household names reporting sales and profits for the just completed Third Quarter. Alcoa easily beat earnings forecast