Ah Already! America At Risk of 'Government Shutdown'

<p>&nbsp;The United States Congress now has less than two weeks left to pass a bill to keep the government running.</p><p><br /></p><p>Under the Anti-Deficiency Act, federal agencies cannot spend any money without an appropriation or approval from Congress.</p><p><br /></p><p>When Congress fails to pass 12 annual appropriations bills, federal agencies must cease all functions in government until Congress acts.</p><p><br /></p><p>This is known as a 'government shutdown'. It happened in 2018 during the administration of former President Donald Trump.</p><p><br /></p><p><br /></p><p>Given the current situation, House Republicans are now struggling to reach an agreement on a defense spending bill before the end of the month.</p><p><br /></p><p>In fact, there are some Republicans who have threatened to remove House Speaker Kevin McCarthy from his post if he does not comply with their demands.</p><p><br /></p><p>In the event of a US government shutdown, the Bureau of Labor Statistics said it would stop releasing data, including key reports on inflation and unemployment.</p><p><br /></p><p>The lack of important government data certainly impacts the Federal Reserve (Fed) in assessing the current health of the US economy and makes it difficult to carry out its duties.</p>