Posted by Carley in
Democracy on 04 17th, 2011 |
no responses
We’re all relieved and excited to find that the recent threat of a government shutdown has been resolved—at least for the time being. This time, the shutdown was avoided via the application of a last minute agreement. It was literally announced an hour before midnight as the country breathed a collective sigh of relief. Still, you might be wondering what the big deal is all about. Perhaps you are curious as to whether a federal shutdown would have any measurable effect on your own business. If a shutdown did go into effect, what could you expect to happen to your business for the duration?
What Stays and What Goes
The last government shutdown had a profound effect on all sectors of the economy—not just those that you might realistically expect. While what are termed essential services by the Office of Management and Budget remain functional and employed the rest are furloughed until the shutdown is resolved. In the past, these essential services have included:
- Federal Hospital Employees
Your postal service will not be directly affect since it is self funded. Any other civilian employee of the federal government will be, however. That means that passports and visas cannot be issued or approved. If you work in the tourism industry, you’ll lose millions of dollars and even if you don’t, you’ll find that your international business is directly affected. That’s not all, however. The Small Business Administration would suspend its activities. Healthcare services like the NIH, the CDC, and even Medicare could be affected as could many other services.
Avoiding the Issue
The threat posed by a government shutdown is very real, whether you’re a member of the business sector or an actual federal employee. Everyone stands to lose money as well as the services that support our country. We were able to dodge the bullet this time, let’s hope we can continue to do so in the future.
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