- Posted by AddCash Finance
- On October 13, 2013
- 0 Comments
You might recall the US was headed for a fiscal cliff in December 2012. Compulsory tax hikes combined with measures to reduce Government spending were going to lead to higher unemployment and a recession.
Jumping off the cliff was deferred and part of the solution agreed over the following months was to raise the self-imposed limit on US Government borrowings. Known as the debt ceiling this is currently just under $17 trillion dollars. This was part of extraordinary measures to temporarily cover US Government spending until October 2013.
Well October has arrived and the most extraordinary thing is that policy makers couldn’t come up with a solution. Parts of the US Government have been shut down and they’ve cut non-essential spending which includes things like national parks and monuments. There may be no one to clean pigeon poo off the Statue of Liberty because the US economy itself is in deep…..
This is an important consideration for any business. Where are you spending cash that is non-essential or unnecessary? Are some tough decisions needed now to save greater headache later?
Let us know what things you are doing without or would be prepared to let go if faced with a cash crisis.