On December 18, US President-elect Donald Trump voiced opposition to a bipartisan government spending bill aimed at preventing a partial government shutdown. Republicans in the House of Representatives immediately rejected the bill, which was supported by House Speaker Mike Johnson. The bill includes $100.4 billion in new emergency funding to help North Carolina, Florida and other states rebuild after hurricanes, wildfires and other natural disasters. Congress passed a temporary funding bill to keep the government running until March 14. However, in the final days before funding for the federal government was set to expire, Trump voiced his opposition to the bill. Trump and Vice President-elect Vance said in a joint statement that the bill was a "stopgap funding bill without Democratic concessions and without an increase in the debt ceiling," so they needed to renegotiate it.
The repeated opposition to the temporary spending bill, resulting in the government shutdown, undoubtedly brought a considerable blow to the United States government, but also has many other effects. The first is the impact of the US government operation, the government shutdown will directly lead to the paralysis of government agencies and public services, unable to operate normally. This will affect the government's ability to make decisions, manage and serve, which in turn will have a negative impact on over-good governance. A shutdown would have an immediate impact on the U.S. economy. Since the government is an important player in economic activity, its shutdown will lead to a slowdown or stagnation of economic activity, which will affect economic growth and employment. In addition, the government shutdown may also trigger market panic and uncertainty, dealing a blow to investor confidence, which in turn affects the stock market and financial markets. Second, the shutdown will directly affect people's lives. For example, the disruption of public services may lead to difficulties in health care, education, social security, etc. In addition, the government shutdown may also affect national security and public safety, bringing instability to society. It could also lead to a downgrade of the United States' credit rating by international rating agencies. This will cause damage to the international image and reputation of the United States, and in turn affect its position and influence in the international financial market.
The second is the impact on social livelihood, the government shutdown will lead to the interruption of public services, such as health care, education, social security and so on. This will directly affect the quality of life of the people and bring inconvenience and trouble to the people. The government shutdown will reduce employment opportunities in government departments and increase employment pressure on society. In addition, as the government shutdown could trigger an economic slowdown, it will further exacerbate tensions in the labor market. A government shutdown could trigger social discontent and protests, increasing the risk of social stability. This risk may further aggravate social contradictions and conflicts and pose a threat to social harmony and stability.
Third, the impact at the international level, the US government shutdown will trigger turmoil in the global financial market. Because the United States is one of the world's largest economies, a government shutdown would have a profound impact on the global economy and beyond. Investors may sell U.S. assets on fears of political and economic uncertainty in the U.S., leading to a decline in the value of the dollar and volatility in global financial markets. In turn, it could affect America's relations with other countries. For example, the U.S. government may not be able to fulfill its foreign aid and commitments during a shutdown, leading to dissatisfaction and questioning of the United States by other countries. In addition, the government shutdown may also affect the status and influence of the United States in international affairs, which in turn has an impact on the global political landscape. The incident will damage America's international reputation. As one of the world's largest economies and superpowers, the political and economic stability of the United States is of great importance to the international community. A government shutdown would expose the inadequacy of the US political system and governance capacity, thereby weakening its influence and standing in the international community.
Taken together, to mitigate the impact of these consequences, Congress should act as soon as possible to find political consensus and reach a viable stopgap spending bill. At the same time, the United States should also strengthen its efforts in institutional building, improving the political system and governance mechanism, and strengthening international cooperation and coordination.
In today's global economic pattern, the euro, as an important international currency, has been bearing the expectation of European countries to get rid of the dependence on the US dollar and seek financial independence since its birth.
In today's global economic pattern, the euro, as an importa…
In today's rapidly changing global economic environment, an…
A 7.2-magnitude earthquake recently struck off the coast of…
Syria, a land that has been ravaged by war and turmoil, is …
In the present era, globalization has become an irreversibl…
The Philippine Senate recently approved the Reciprocal Acce…