Government shutdown: Impact on business, healthcare, travel, and more

Россия Новости Новости

With the October 1 deadline looming, is a U.S. government shutdown inevitable? And what effect would this have on the economy across various sectors? Yahoo Finance spoke to experts around the industry to determine the potential impact for businesses, air travel, healthcare, and more. National parks Maya MacGuineas, President of Committee for a Responsible Federal Budget, thinks that the government shutdown 'is not nearly as dramatic as people expect.' MacGuineas notes that the biggest effect will be felt by nature enthusiasts as 'national parks may well shut down.' Air travel The government shutdown could have a significant impact on the air travel industry. Boyd Group International President Mike Boyd said, 'The real issue is long-term. It's the day-to-day regulation that the FAA has over airports, airlines, and also aircraft manufacturers.' Healthcare Dr. Nahid Bhadelia, Founding Director at Boston University Center for Emerging Infectious Disease, believes that the immediate impact could be felt by programs such as SNAP and WIC. Dr. Bhadelia explained, 'If the shutdown continues you're seeing the most vulnerable people at risk.' Dr. Zeke Emanuel, Chair of the Department of Medical Ethics and Health Policy at the University of Pennsylvania, broke down the immediate and long-term impact a government shutdown could have on the U.S. healthcare system. Dr. Emanuel said, 'That of course is going to impact clinical research. It's going to impact the flu and Covid. It's going to impact the FDA's ability to oversee various parts of their mandate including food safety.' Disaster relief The government shutdown could pose a significant threat to the Federal Emergency Management Agency's (FEMA) disaster relief operations. Former FEMA Administrator Craig Fugate explained, 'Of the 5,000 workforce, that could be 90 percent of the folks at home ... not supporting the disaster response teams.' Government services Congressional Budget Office Director Doug Holtz-Eakin explained what