So the government shutdown is here. Many of you are wondering what impact it will have on your money. Some of you are wondering how this will impact a Texas politician who has been one of the faces of the current controversy.
Let’s start with your money. Simply put, if you are invested into the stock market, financial planner Richard Rosso says you shouldn't lose any sleep over this.
“This is not something that will continue but as long as this lasts there will be increased volatility,” Rosso said.
Rosso says bonds are strong, and history has shown markets recover from shutdowns. So Rosso thinks your money is safe right where it is.
“The Fed continues to stay engaged and does not taper. The stock market will love it because the Fed is the underlying support,” Rosso explained.
Shutdown could impact Cruz’ future
The shutdown is also seen by some as the Ted Cruz shutdown for the role he's played, especially with his 21 hour speech on the Senate floor last week. University of Houston political science professor Brandon Rottinghaus told KTRH it could come back to haunt Cruz at some point, especially if he runs for President in 2016.
“You could easily cut a couple of ads that tie Cruz to the kind of non-functioning government that people are so dissatisfied with,” Rottinghaus said.
Rottinghaus says it's a strategy Governor Rick Perry could use if he runs.
“Governor Perry is thinking of running again, and I think he could make a certain narrative stick,” Rottinghaus said.
And what is that narrative? That Cruz is part of the problem, and that Perry, a Washington outsider, is the solution.
For his part, Cruz is donating his salary to charity during the shutdown