The shutdown became official at 12:00am on October 1.
Transcript:
CAROLINE WOODS: The government is officially shut down – for the first time since 2018
Lawmakers failed to pass a funding deal and now about 750,000 federal workers could be furloughed without pay. Millions more – from TSA agents, and active-duty troops – still have to work, but won’t get a paycheck until the shutdown ends.
The cost adds up fast: about 400 million dollars in lost pay every day.
National parks, Smithsonian museums, even food inspections could be disrupted. Federal contractors like janitors and security guards may not get back pay at all.
Social Security and Medicare checks will keep going out, but some services could slow down.
The longer this drags on, the bigger the hit to the economy. Past shutdowns have shaved billions off GDP, and economists say each week could cut growth by 0.1 to 0.2 percentage points.
Bottom line: millions of Americans are about to feel it in their paychecks, in public services – and potentially in the broader economy if this stalemate drags on.
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