Perhaps this is bigger news for me, since I live in DC and work for the Federal Government, but I'm still surprised there isn't a thread on this.
If you aren't aware, the current budget showdown in Congress is reaching a crisis point. The current budget runs out on March 4th, which is next Friday. If Congress does not agreed on a new budget, or at least a continuing resolution, in the next eight days, the Federal government will undergo a generalized shutdown. Here are a few articles that discuss the impact of the shutdown.
In short, many government offices and services cease to function and no Federal employee gets paid. While I am, fortunately, not one of them, many Federal workers live paycheck-to-paycheck, just like the rest of the country. These people will suddenly have serious credit problems, and there's no guarantee they'll ever get the money back, though that does seem unlikely. Federal contractors will not get their money back, period. In addition, many businesses which depend on the Federal government, or Federal employees, will take a financial hit. The DC transit system will lose a massive amount of money, as well as numerous restaurants and retail businesses in the DC area and around every major Federal center in the country. Plus, every business that regularly supplies goods or materials to any Federal agency.
So, is Congress doing the right thing by risking this kind of situation in order to uphold their beliefs about the budget, or is compromise necessary to avoid it?
Bookmarks