Ask Matt: Is a government shutdown a worry?

Q: Is a U.S. government shutdown a worry?

A: Here we go again. The U.S. government faces a possible shutdown if Congress fails to pass legistation by the Sept. 30 cutoff. Just six of the needed 12 spending bills to keep the government operating have been passed so far, according to Fitch Ratings. The last time the government shutdown, which happened starting Oct. 1, 2013, sparked a round of political battles that kept the government closed until Oct. 17, Fitch says.

Hearing that the U.S. government might be nearing a shutdown sounds scary, until you look at the details. First of all, the dead of shutdown could be pushed back with short-term measures until later this year, Fitch says. Lawmakers also get a bit more breathing room this time around since financial backup measures can hold out until mid-November or early December. Given the state of the global economy, the U.S. remains a bastion of strength even during debt-limit debates. Previous U.S. government debt crises have not injured the U.S. dollar's standing as a reserve currency, Fitch says. A longer-term solution is definately needed to stop the U.S. government's recurring debt-limit issue. But such an answer is not likely before the 2016 president elections, Fitch says.

Paste BN markets reporter Matt Krantz answers a different reader question every weekday. To submit a question, e-mail Matt at mkrantz@usatoday.com or on Twitter @mattkrantz.