WASHINGTON (AP) — The ongoing federal government shutdown is rapidly heading towards becoming the second longest in U.S. history, with warnings it may eclipse the previous record of 35 days set during President Donald Trump’s administration.
This shutdown, which began on October 1, has already driven approximately 750,000 federal workers into furlough each day, threatening their financial stability as they miss out on crucial paychecks. Lawmakers from both sides are entangled in a standoff, with Democrats demanding special provisions for those losing health insurance while Republicans maintain their position regarding spending cuts.
Economic analysis reveals that the shutdown has potential to reduce growth by as much as 0.2 percentage points per week, which accumulates with longer durations. The U.S. Travel Association indicates significant disruption in the travel industry, projecting losses of up to $1 billion weekly.
Moreover, essential services like loans facilitated by the Small Business Administration and the issuance of flood insurance policies have come to a halt due to the shutdown, affecting both small businesses and real estate transactions. Letting the situation continue could compound the negative effects as public sentiment shifts on who is responsible for the deadlock.
While both parties dig in, federal workers voice their concerns as many live paycheck to paycheck, illustrating the human cost of political maneuvering in Washington.
This shutdown, which began on October 1, has already driven approximately 750,000 federal workers into furlough each day, threatening their financial stability as they miss out on crucial paychecks. Lawmakers from both sides are entangled in a standoff, with Democrats demanding special provisions for those losing health insurance while Republicans maintain their position regarding spending cuts.
Economic analysis reveals that the shutdown has potential to reduce growth by as much as 0.2 percentage points per week, which accumulates with longer durations. The U.S. Travel Association indicates significant disruption in the travel industry, projecting losses of up to $1 billion weekly.
Moreover, essential services like loans facilitated by the Small Business Administration and the issuance of flood insurance policies have come to a halt due to the shutdown, affecting both small businesses and real estate transactions. Letting the situation continue could compound the negative effects as public sentiment shifts on who is responsible for the deadlock.
While both parties dig in, federal workers voice their concerns as many live paycheck to paycheck, illustrating the human cost of political maneuvering in Washington.
