The U.S. Government Shutdown is Countdown, Key Economic Data Releases Will Be Impeded

BlockBeats News, September 30th - With less than 48 hours remaining until the October 1st deadline for a U.S. government shutdown, President Trump met with congressional leaders to discuss the Democratic Party's demands to extend healthcare subsidies and reverse Trump's cuts to healthcare assistance programs, but no progress was made. Vice President Pence stated that the U.S. government is "heading toward a shutdown," and if no agreement is reached, hundreds of thousands of government employees will face unpaid leave, and the release of key economic data will be disrupted.

Pence attempted to blame the Democrats, saying, "I think we're going to end up with a shutdown because the Democrats don't seem to want to do the right thing. I hope they change their minds and we'll see." Senate Democratic leader Chuck Schumer said after the meeting, "If the President could accept some of our proposals, he could avoid a shutdown, but there are still significant differences between us. We believe that these issues regarding healthcare and appropriations reflect the will of the American people." Senate Majority Leader John Thune of the Republican Party said that the Democratic Party's refusal to approve a short-term spending bill to keep the government running until November 21 is tantamount to "taking hostages," but he also indicated that negotiations with the Democrats will continue after the current funding deadline.

A U.S. government shutdown would delay the release of key economic indicators (including the monthly nonfarm payroll report scheduled to be released on Friday) and would at least temporarily furlough hundreds of thousands of federal employees, while others would be required to continue providing essential services without pay. The U.S. Bureau of Labor Statistics announced on Monday that it would not release economic data during a potential shutdown. Trump threatened that if the government shuts down, he will permanently lay off a large number of federal employees. If a shutdown occurs, it would be the first U.S. government shutdown since 2018-2019 when government funding was suspended for five weeks during Trump's first term, including over New Year's Day.