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Wednesday, October 2, 2013

The U.S. government is experiencing its first shutdown since 1995-1996. Exactly how big of a crisis is this for the American people?



Today's Random Fact:

Starting in 1976, the United States Federal Government has shut down on 18 occasions. The first was in 1976 when President Gerald Ford vetoed a funding bill for the United States Department of Labor and the United States Department of Health, Education, and Welfare, leading to a partial government shutdown.

The most recent (excluding the last couple days) was in 1995-1996 when Republicans demanded that President Clinton propose a budget with the seven-year timetable using Congressional Budget Office numbers, rather than Clinton's Office of Management and Budget numbers. However, Clinton refused.

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Bonus Fact:

Congress faces a big deadline on raising the debt ceiling on October 17. Without the ability to borrow money, the federal government won't have some of the money it needs to pay the bills it delays during a shutdown. However, if you have a bond or contract with the federal government you will be paid.