US White House still sits in gridlock, Obama prepares to address the Nation this afternoon

– For the first
time in 17 years, much of the federal government is shut down as Congress
failed to agree on new funding before a midnight deadline. House Republicans
continue to insist on changing, delaying or de-funding ‘Obamacare’ while Senate
Democrats and President Obama continue to reject that position. 

There is no
potential resolution in sight at this point, and additionally the debt ceiling
is creeping closer, threatening further fiscal chaos. Fitch said that the US
debt ceiling is not itself a downgrade trigger, but a formal ratings review
with potentially negative implications would be triggered if the government
does not raise debt ceiling in a timely manner.