A little bad weather

Puerto Rico faces a government shutdown on Oct. 31, at which point it will run out of cash unless the US provides billions in emergency funds, warned Treasury Secretary Raul Maldonado: "If Congress doesn’t act, it will be a disaster."

Illinois is in the same boat.  A severe winter and the state is stranded.  Trump has already mentioned 'debt wipe'.  The federal budget got rattled by an extra 50 billion. Many California city budgets have zero employment expansion planned.

Not enough reserves in the government chain. Treasury was just now building its cash pile back up when the hurricanes and earthquake hit.  

It is the new deficits that is the new thing, like something happened to the old deficits? Sounds more like a monetary regime change to me.