Without a budget passed by Congress, we’re getting closer and closer to a government shutdown. Yes, the Senate has come up with a plan—but the House has not even been able to begin considering one. If this continues, the government will lack the necessary funding and will largely shut down as of October 1.
As the possibility of a shutdown looks very real, it’s time to start thinking about the potential damage it may have. For the national economy, the short-term consequences are likely to be relatively minor. That’s the good news. The bad news? We haven’t experienced this type of shutdown before, and no one knows how long it may last.
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