This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

How to Talk With Kids About the Government Shutdown

NEW YORK ( TheStreet) -- With the federal government partially sidelined and the federal debt ceiling at its limit of $16.7 trillion, things look problematic for the U.S. economy and for those kitchen-table heads of family who have to pay the bills and generate an income.

The government shutdown began Oct. 1 (as did open enrollment portion of the Affordable Care Act, also known as Obamacare.) Next up: Oct. 17 is the drop-dead date for Congress to lift the government debt ceiling or face the reality of the U.S. government defaulting on paying its bills.

How should families be reacting to these political and economic headwinds?

Gregg Murset, a certified financial planner and the father of six, says parents should have a conversation with young ones, at least to dispel some myths linked to the current government economic woes.

Murset, founder of the website, which helps parents organize their kids' household chores, says there is no shortage of Chicken Littles yelling that the sky is falling again.

"I have to admit, there certainly are never-ending waves of bad news crashing into each of us every day, but is the sky really falling?" he asks. "Let's examine history. The government has shut down before."

But hyperbole is trumping reality, and may be causing unnecessary anxiety with school-age kids, Murset says.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%
YHOO $44.52 0.00%


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs