Shutdown Countdown

A shutdown delays rather than cancels spending. In fact, a shutdown only affects up to 27% of total federal spending. 

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Shutdown Countdown
Welcome to the Know the Difference Minute for Tuesday, September 26th.
The government’s fiscal year starts October 1st. That’s this upcoming Sunday. Can both houses of Congress come together with the President to pass a budget; or, does a government shutdown loom?
The Congressional Research Service says the effects of a shutdown depend on how long it is and which programs are affected—because a shutdown doesn’t actually turn-off everything.
Non-essential Government employees are furloughed and they don’t get their paychecks until the shutdown ends. That can impose real costs on these families as they have to rely on credit cards or savings to tide themselves over.
The release of certain data reports from the government would likely be postponed.
A shutdown delays rather than cancels spending. In fact, a shutdown only affects up to 27% of total federal spending. Mandatory spending, which includes things like Social Security, continues.
I’m Brian Jacobsen, Chief Economist at Annex Wealth Management. That is your Know the Difference Minute.