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US Government Shutdown Explained
Posted
October 1, 2021
Views
42
Likes
1
Engagement
2.38%
October 1, 2021
42
1
2.38%
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1:13Now PlayingWhy is the government at risk of shutting down every fall? Check out the video to find out why!
Welcome back to Bold TV with Julia Findley. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
Why does the government always at risk of shutting down around October 1? It’s because October 1st is the end of the fiscal year. Before the end of the fiscal year, Congress has to approve the government’s budget. If Congress isn’t able to pass it by the end of the fiscal year (October 1st, 12:01AM), the government shuts down. They then have to work out a spending plan. Republicans and Democrats are working together to get the national debt ceiling increased. If the debt limit was not increased by midnight, the government would have had to shutdown. Thankfully, yesterday, a plan was passed a mere several hours before midnight.
If they didn’t, the US budget would be maxed out and wouldn’t be able to pay its bonds.
But what does this shutdown specifically mean? Mortgages and other loan applications will face delays because the IRS and other non-essential offices will close. The CDC will still be allowed to work but the government will not pay the FDA park service, and parts of the military. They will not be operational.
The last three US government shutdowns have cost the US almost $7.1 billion.
Did you know what the government shutdown actually met? Let us know in the comments below!
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