With U.S. lawmakers still unable to reach an agreement on how to fund the federal government, the possibility of a federal shutdown appears more and more imminent. Find out just where the federal government stands with our federal budget.
While Speaker of the House John Boehner (R – OH) has proposed an additional two-week budget that would slash $12 billion in spending, President Barack Obama has already indicated that he’s uninterested in passing yet another short-term bill . The prospects of both sides working out their differences between now and Friday now appears less and less likely.
Check out: Government Shutdown 2011 Put on Hold
Interestingly enough, the federal government never officially passed a budget for the fiscal year 2011, and has instead run on a number of stop-gap (or, continuous resolution) budgets to provide the short-term funding so that federal agencies can run properly. The most recent stop-gap budget has funded the government since March 19 and is set to expire this coming Friday. If U.S. lawmakers are unable either agree on final 2011 budget or terms to a short-term funding resolution before that deadline then thousands of federal agencies and numerous government services will be called off in.
Here’s a less than complimentary infograph created by Bankrupting America to depict the federal government’s budgeting efforts since October:
While a short-term shutdown may be minimal cause for concern, a much longer shutdown has the potential to significantly impact the federal government’s operations. The longest recorded federal shutdown in U.S. history began on Dec. 15, 1995 and ended on Jan. 6 of the following year when former President Bill Clinton and the Republican-controlled House of Representatives were unable to reach a consensus on a final budget. In addition to the furloughing of hundreds of thousands of government workers, that shutdown also affected over 20% of government contracts, suspended more than 3,500 bankruptcy cases and temporarily closed 368 national parks.