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 myjobchart.com, 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.