First Government Shutdown in Nearly Seven Years: Causes and Implications
For the first time in nearly seven years, the United States government has officially entered a shutdown due to the Senate and Congress’s inability to agree on and pass the necessary funding bills to sustain federal operations.
This situation arose just before the end of the fiscal year and was caused by political disagreements between the country’s main parties over the budget.
On the night of September 30 to October 1, local time, at midnight, U.S.
government agencies began to shut down, leading to temporary restrictions on some services and the closure of government structures.
This decision stems from longstanding tensions between Democrats and Republicans over funding, and its consequences are already being felt both domestically and internationally, increasing political instability and raising concerns among financial institutions and the global community.