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Economy

Deadline Approaches: Social Security and Beyond – What Shutdown Means for You

The impending government shutdown on November 21, 2021 is weighing heavily on both the federal government and its citizens. With the deadline looming, it’s important to understand what it means for those reliant on programs like Social Security and other federal benefits, and the potential effects the shutdown could have on the country.

Government shutdowns are when the funding for specific, non-essential government services cease and they temporarily cease operations. This doesn’t mean that all services and agencies provided by the government are closed; essential services like national security, air travel, and law enforcement remain operational.

The most immediate effect of the shutdown comes from federal employees. Hundreds of thousands of federal workers are furloughed, meaning that those employed at the Social Security Administration, NASA, and the U.S. Forest Service, to name a few, aren’t able to do their jobs and won’t be paid until the shutdown ends.

More importantly, a government shutdown also means that some federally-funded programs will be affected. This includes Social Security payments, meaning those planning to receive their Social Security checks on November 21 may see a delay. Those who rely on the Supplemental Nutrition Assistance Program (SNAP) could be affected too, as could those who are set to receive Temporary Assistance for Needy Families (TANF).

At this time, there is no clear indication of how long the government shutdown could last. It can continue indefinitely, with no outcome in sight, or it can be lengthy but short-lived. It’s a waiting game now for both sides.

What is certain is that the entire country will feel the pain if the government is unable to reach a resolution. Those who rely on federal services and benefits are likely to be affected the most, while businesses that rely on federal contracts may suffer the most financially. Additionally, the lack of a functioning government can severely damage consumer confidence which can further harm the economy.

Though the looming government shutdown may be cause for concern now, here’s hoping for a solution before November 21 passes and the worst is avoided.

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