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U.S. Treasury Secretary Yellen Warns of Potential Government Shutdown and Its Economic Impact

Overseas Network, September 30 According to CNN, on the 29th local time, U.S. Treasury Secretary Yellen issued a warning to Congress: “The government shutdown is very dangerous and unnecessary. It will damage the U.S. economy and disrupt key… Government Functions.”

CNN said that the possibility of a U.S. government shutdown seems to be increasing, and this is the strongest warning issued by Yellen so far. Yellen believes that the U.S. government shutdown will cause harm to American families and affect many key government functions, including loans to farmers and small businesses, food and workplace safety inspections, and children’s Head Start programs. Some major infrastructure projects Construction will also be delayed as a result.

As the U.S. Congress has not passed any spending bill before the start of fiscal year 2024, the White House and various government departments are preparing for a possible shutdown. Once the U.S. government shuts down, millions of people will face pay cuts. (Overseas Network Li Meng)

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2023-10-01 02:39:55

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