Did you know that the government has entered a shutdown? This is the first time in 17 years that the U.S. government is closing down. Here are the top news stories for today regarding the U.S. shutdown and its potential implications for government, business and individuals.
1. What’s the Cost of a Government Shutdown?
According to the latest news websites including Channel 8 Reno, the shutdown could cost the government over $2 billion, with various additional harms to the economy that cannot be measured at this point. According to the Office of Management and Budget, the last two government shut downs cost a total of $1.4 billion, the result of back pay to federal workers, as well as uncollected taxes and fines. A short government shut down, lasting a day or two, though, would probably have a relatively small economic impact since it would equate out to the cost of running government for a day or so.
2. What’s the Immediate Impact of a Shutdown?
Thousands of government workers are leaving work for an indefinite amount of time. National Parks are now closed, and workers have been sent to move barricades into place to prevent entry. Prison guards, air traffic controllers, and border patrol officers are expected to work, but have been told that they might not get paid. Other smaller impacts have been felt; many were sad to see that the Panda Cam for the National Zoo has gone dark, enough so that it was one of the top news stories for today on Google.
3. What is Likely to Happen?
According to CNN top news stories, right now, Obama and OMB director Sylvia Burwell have been asking Congress to pass a short term legislation that would restore and extend funding for the remaining fiscal year. This would allow shut down public services and programs to continue operating. At the core of the drama is the Republican controlled House, which wants more concessions from Senate Democrats and the president in regard to the Affordable Care Act, which will allow more Americans to access health care. In all likelihood, reports todays top news stories, it will be several weeks until Republicans cave under pressure; there is little indication that Democrats will be open to repealing changes to the healthcare system.
What have you read about the shut down in todays top news stories?