This could be do or die week in Washington, D.C. The U.S. government faces another potential shutdown. If Congress fails to pass a measure by September 30 that would fund the federal government, the doors to several agencies may temporarily close.
With the unexpected and impending resignation of House Speaker John Boehner, nothing is certain these days on Capitol Hill. The debate over a possible shutdown stems from political conservatives who want to defund Planned Parenthood, often associated with politically liberal agendas. This impasse could lead to a government shutdown similar to the Affordable Care Act standoff in 2013 that lasted 16 days.
Jane Hudson Ridley, Senior Director & Analytical Manager of Standard & Poor’s U.S. Public Finance Department, told me in a recent interview at our downtown Channel 7 studio, that any kind of government shutdown has the potential to trigger an economic slowdown.
Ridley keeps a close watch on Detroit and Wayne County finances from her headquarters in Chicago. A prolonged government shutdown could hurt the fiscal and development progress the City of Detroit and the State of Michigan has made over the past few years.
