The Federal Shutdown is O.K. in Sumner County right now, but it could get much worse
by Tracy McCue, Sumner Newscow — If you plan to visit the U.S.D.A Service Center at the Raymond Frye Complex in Wellington for U.S. Department of Agriculture assistance today, you are out of luck. There is a sign at the door which states:
“This U.S. Department of Agriculture office is currently closed, due to lapse in federal government funding. The office will reopen once Congress restores funding.”Â
Outside of that, the federal government partial shutdown that started Tuesday has not had a real dramatic affect in Wellington and Sumner County – at least not yet.
The U.S. Post Office is open. It operates as an independent business unit.
The Sumner County Courthouse is humming as well.
The City of Wellington is also open for business as are the municipalities in Conway Springs, Belle Plaine, Caldwell and others.
After all there is not a national park, or a Smithsonian Museum nearby that is affecting the local economy.
But really how worried should we Sumner County residents be? We decided to ask J.P. Buellesfeld, Wellington investment advisor and our political consultant, what we here in Sumner County should worry about when it comes to the goings on of our U.S. Government.Â
“This government shutdown probably won’t have an effect on anything of significance right now,” Buellesfeld said. “The bigger thing in play is if this goes on too long we will have a budget showdown on the debt ceiling limits in October. That’s a serious thing.
“If you don’t raise the debt limits then basically the government can’t pay its treasury bills and bonds.”
That’s not good because if the “line in the sand” mentality between President Barack Obama and the U.S. Congress doesn’t change, the Treasury Department will only be able to pay the country’s incoming bills with the cash it has on hand.
“The country basically won’t be able to pay its bills,” Buellesfeld said. “And that will wreck the confidence people have in the U.S. Treasury.”
U.S. Treasury Secretary Jack Lew has been warning people, unless Congress can raise the debt ceiling by Oct. 17, the Treasury Department will only be able to pay the country’s incoming bills with the cash it has on hand. Treasury forecasts that by mid-October the U.S. Government will have a cash balance of $50 billion, an amount insufficient to pay what the country owes for an extent ended period of time. The debt ceiling now stands at $16.699 trillion. That level was reached in mid-May. At that time, the U.S. Treasury began a host of “extraordinary measures” to continue paying all the country’s bills in full and on time. But Lew said those extraordinary measures will tap out.
So what will happen?
Buellesfeld shakes his head. The government defaults on its loans for the first time in its history. It won’t have enough money to pay for Medicare, Social Security, Veteran’s benefits etc.
“It all comes to trust,” Buellesfeld said. “Isn’t trust essential in everything we do? You have to trust your spouse for the marriage to work, your business partner, your medical professional… If people don’t trust the U.S. Government where is this going to take us?”
Experts say the current government shutdown will not affect the economy too badly especially if a compromise is worked out soon. But each week, economists estimate that .12 percent will be shaved off the Gross Domestic Product if the issue is not solved.
And with the debt ceiling debate lurking and the current vitriol climate on Capital Hill, economists are worrying.
The government showdown and how it affects you can be summed up in this USA Today article: http://www.usatoday.com/story/news/politics/2013/09/29/questions-and-answers-about-the-shutdown/2888419/




























