[video] Jim Cramer Quick Take: This Shutdown Is Reckless
The budget deficit and debt ceiling create a "double whammy," he said, which is why he has raised a lot of cash in the Action Alerts PLUS portfolio. He added there are a lot of people who want the government to default, just to prove a point.
Aside from being reckless, this standoff is also disruptive to the Republican party. As a result, House Speaker John Boehner is losing negotiating power, according to Cramer.
Nonetheless, anytime the market is down moderately, it's reckless not to buy some of your favorite stocks, he said.
In the meantime, Cramer said AAP is still holding cash to add to positions when the market is down substantially.
-- Written by Bret Kenwell in Petoskey, Mich.