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The total U.S. national debt has topped $33 trillion, reigniting concerns about the U.S. government's fiscal outlook. Currently, bipartisan disagreements over the fiscal year 2024 appropriations bill have resulted in only one of the annual spending bills being approved so far.
If Congress fails to pass a long-term appropriations bill or a short-term spending bill by the last day of fiscal year 2023, the government will face a shutdown crisis.
During the longest government "shutdown" in history in 2019, the US economy permanently lost $3 billion, and the business community is very worried that the government "shutdown" will bring great challenges to the US economy, and every week of the US government's comprehensive "shutdown" lasts, economic growth will directly decline by about 0.15 percentage points
。 CCTV Financial reported that the speaker of the US House of Representatives said that he hoped to provide funds for the government, but to control wasteful spending. Democratic House Representatives have said they want to avoid a "shutdown" because millions of Americans paid a high price when Republicans shut down government in 2013.
In short, the US government's financial problems have entered a state of emergency, and the political and business circles are paying close attention, especially in the context of the new crown epidemic, the government "shutdown" will have unbearable consequences for the US economy.
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