Answering your questions about the government shutdown
HARTFORD, CT (WFSB) - The federal government shutdown is raising major questions across the country, including in Connecticut.
Channel 3 talked to locals about their biggest concerns and sought to answer the most commonly asked questions.
What is the cause of the shutdown?
Republicans and democrats could not agree on a spending bill to keep the government running into October and beyond.
Republicans hold the house and senate, but they still need 60 votes in the senate to pass the bill. That gives democrats some influence.
As of Wednesday afternoon, both sides were stuck in a standoff.
The biggest disagreement is on healthcare spending.
“Congress comes to some sort of agreement on where our federal funds should be spent. They pass some bills into law and [the] president signs them. They were unable to do that,” said Paul Herrnson, Political Science Professor at UConn.
As a result, non-essential federal workers are being furloughed, which means they’re temporarily unpaid.
Essential workers have to keep working, but also without pay.
Who counts as an ‘essential’ worker?
Professor Herrnson explained that this comes down to members of the military, some law enforcement people, TSA, and air traffic controllers.
They will all be working without pay during the shutdown.
“In prior shutdowns, air traffic controllers protested by many of them calling out sick. And they may be inclined to do that again given the way federal workers have been treated,” said Herrnson.
How will the economy be impacted?
The government plays a big part in the economy. Luckily, the effects of a shutdown are limited.
However, this comes at a time where inflation has been rising every month since April.
Channel 3 spoke with Financial Planner Derek Mazzarella about the impact on people’s portfolio.
“I wouldn’t run and sell all your stocks. I think we need to wait the situation out because historically returns have been pretty flat during shutdowns,” explained Mazzarella.
He continued, “Don’t overreact to this specific situation. I think it’s important to know when you’re doing your plan, how is this really impacting me and is this something five or ten years down the line based on how my money’s invested? The most likely scenario to that is no.”
What about social security?
About 74 million Americans collect social security benefits every month.
The good news is that social security payments are considered mandatory spending, so benefits will continue to go out.
“I’m on social security so that would hurt me tremendously and hurt probably millions of other people who are getting social security. We all worked hard all our life for that,” said Don Barisano from Glastonbury.
However, other services, such as new applications for retirement or disability, could be delayed.
If someone is applying for the first time, officials said to expect longer wait times.
Watch Channel 3 and refresh this page for the latest updates on the shutdown.
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