The Securities and Exchange Commission – Wall Street’s top cop – said it would shut down most services, but some employees would remain on hand to work on certain law enforcement, litigation, market surveillance, regulatory filing and internal system matters. The Commodity Futures Trading Commission, which oversees numerous derivatives markets, would face “extreme” issues as well.
The Labor and Commerce Departments are expected to halt data releases in the case of a government shutdown. This would impact major reports like the monthly jobs report and readings on U.S. gross domestic product.
The Treasury Department will continue auctions for U.S. debt, even in the event of a shutdown.
Neither snow nor rain nor heat nor gloom of night…nor a government shutdown will keep the U.S. Postal Service from delivering your packages. USPS will operate as normal regardless of a Congressional compromise.
The Energy Department will take a break from working on drilling permits and processing applications for the export of liquefied natural gas.
The Defense Department said a shutdown would furlough about 400,000 civilian workers, delay military contracts, and defer training. However, active-duty military would remain in service.
Federal funding for administration and benefits under the Supplemental Nutrition Program for Women, Infants and Children – which provides grants to states for food aid, health-care referrals and other types of aid – will be halted.
The Centers for Disease Control will stop monitoring disease as the flu season looms and the National Institutes of Health stopped accepting new patients for clinical research. However, inspections of meat, poultry, and eggs will continue, according to The Wall Street Journal.
Social Security checks should continue whizzing out. But it’s possible recipients won’t be able to call with questions.
The government shutdown is expected to result in the furlough of between 800,000 and one million federal employees. The specific economic impact remains uncertain; however, the way it will affect the inner-workings of the American government are emerging. Here’s a look at a few key areas relating to the business sector.