Today may be October 1st on the Gregorian calendar, but on the government’s fiscal calendar it’s New Year’s Day.
But instead of moving forward in time, the government is standing still. As of now, Congress has not agreed to put a spending bill in place, forcing the government to shutdown for the first time in almost 20 years.
After much debate, the Republican-controlled House of Representatives was unable to reach a compromise on a new spending bill last night. The House GOP continued to insist that a spending bill include a one year delay on the enactment of the Affordable Care Act, a repeal on a tax on medical devices, as well as a host of other issues, such as the construction of the XL Pipeline.
Meanwhile House Democrats together with Senate Democrats held their ground, fighting the potential amendments.
Thus, the government shutdown begins today. What exactly does this mean for basic government functions? What impact will this have on our slowly recovering economy?
Takeaway Washington Correspondent Todd Zwillich explains the details of the shutdown and what implications it will have.
While we wait for the government to start up, The Takeaway has developed a "Shutdown Playlist." Check out the songs to listen to that will help you pass the time, and leave your own suggestions in the comments.