Shutdown again in America after 7 years
Government work in America has come to a standstill, which has happened for the first time since 2018. This is the 22nd shutdown of America, which started due to non -approval of the funding bill in Parliament. Every year the US Parliament passes the funding bill to run the expenditure, but this time both Republican and Democrats could not agree on it. Due to this, many departments of the government did not get the necessary funds to continue their work and the shutdown came into force. According to the US government office, last time the longest shutdown was run from 22 December 2018 to 25 January 2019, ie a total of 35 days.
Shutdown has a direct impact on economy
Due to the shutdown, the US government will not get money to give salary to about 20 lakh government employees. These employees will be forcibly sent on leave and government work will come to a standstill. Many government departments and institutions will be temporarily closed. During this time only essential agencies will work, such as institutions maintaining law and order.
Airport and airline companies will also be affected by shutdowns. Passengers may have to face tough investigation and long queues. Also, the Labor Department will not release its monthly unemployment report, which will affect the economy of America, it will be difficult to assess the right economic situation. Government job opportunities are also on a huge decline. Last week, the job opening has decreased by 87 percent.
These departments will continue to work during shutdown
Some departments such as Social Security Administration will continue to give retirement and disability benefits, but most of their employees will be on leave. Payments will continue under health programs like Medicare and Medicade. The work of some departments like US Agriculture Department and Postal Service will not be affected as they are not dependent on Congress funding.
How much will the US economy suffer?
Last time, the US economy lost about $ 3 billion due to shutdown in 2018-19. This time too, if the shutdown goes long, then the economic loss can increase even more. Due to cutting in government spending, not getting salary of employees, their ability to spend will reduce, which can cause a slowdown in the market. Apart from this, obstruction of government functioning will also cause disruption in various areas.