No New Small Business or Housing Loans, No Military Pay, No New Clinical Trials: What Would a Federal Government Shutdown Mean For You?
April 6, 2011
Both sides say they would like to avoid a government shutdown, but preparations are being made. (The clock is ticking down; the federal government runs out of money on Friday night.)
Per senior administration officials, roughly 800,000 federal employees around the country will be furloughed with no pay.
Some other areas that may be of interest or relevance to you:
Military personnel will continue to earn money – but they will not be paid until the shutdown ends. Obviously military pay is not particularly lucrative and many troops and their families live paycheck to paycheck (as do some federal employees).
The Department of Health and Human Services and the National Institutes of Health will not take any new patients or initiate any new clinical trials. Clinical trials already in process would continue.
Small Business Administration approval of business loan guarantees and direct loans to people would stop.
The Federal Housing Administration would stop issuing new loan guarantees.
The IRS will stop processing tax returns filed on paper, though electronic filing will continue.
National parks and landmarks and the Smithsonian Institution will close. The cherry blossom parade scheduled for Washington DC this weekend will be suspended.
Social Security will not be impacted, nor will Medicare at least in the short term. The Customs Department is still working on figuring out its plan.
The Environmental Protection Agency will only continue to work that directly impacts public safety and life; environmental claim processing will stop.