This week, US Treasury Secretary Jack Lew told Congress that the deadline for the United States running out of cash to pay its bill is now November 3rd. There are only 10 legislative days left before the deadline, and the House still has not determined who they will be electing as a new Speaker. There are many in doubt that a deal will be reached by the deadline, which has many financial analysts starting to predict a variety of negative impacts, including a downgrading of the federal credit rating and a downward spiral of consumer confidence.

Summer Minnick is the Director of External Relations and Federal Affairs. She can be reached at 517-908-0301 or sminnick@mml.org.