If Congress cannot approve a budget for 2016 by September 30, the end of this fiscal year, the US government will shut down. It’s a likely scenario since there are just a few more working days for lawmakers to come to an agreement and there’s no sign of that in sight. Here’s what you need to know about how a government shutdown could affect you. What’s a Government Shutdown and Why Is This Happening? Without an approved budget plan, government agencies will no longer have access to federal funds come October 1st. Effectively, it’s like a business not having any cash flow and being forced to put up “Sorry we’re closed” signs. If a government shutdown happens, some government services will continue to operate thanks to the Antideficiency Act (nice name, right?), which allows “essential” government services—such as the military and air traffic control—to keep operating even without authorized funds. A great many government functions, however—from national parks and federally funded scientific research to the FDA’s inspection of food and approval of new prescription drugs—will come to a halt during the shutdown furlough until Congress can come to a resolution. This isn’t the first time the country faced the prospect… Read full this story
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