real-time news and commentary for investors
Sunday, Sep 29
Government prepares for shutdown
- If there is a government shutdown on Tuesday, as is looking increasingly likely, the U.S. Treasury would continue selling debt, paying interest, and maintaining collections and daily cash management.
- Spending on essential functions would continue, such as on national security and public safety, as would financing for Medicare and Social Security retirement benefits.
- However, a million federal employees would be furloughed, while departments that provide economic reports would cease operations. Data on construction spending is due on October 1.
- The Labor Department's Employment & Training Administration plans to continue publishing weekly jobless claims figures, while it may still issue a monthly employment report that is due on Friday.