Government Shutdown Looms as Congress Faces Deadline; Goldman Sachs Predicts 2-3 Week Closure

Congress has 3 days to avoid a government shutdown on Oct. 1
Goldman Sachs' top economist doesn't think they'll avoid a shutdown
A shutdown could last 2-3 weeks according to Goldman
The last shutdown in 2018-2019 lasted 35 days
Shutdowns disrupt services and payments like national parks and Social Security

barrons.com

Relevant topic timeline:

8/21/2023

Goldman sees US shutdown over spending 'more likely than not'

Goldman Sachs analysts predict that the U.S. government is "more likely than not" to shut down later this year due to spending disagreements, which could temporarily impact economic growth by reducing it by 0.15-0.2 percentage points per week, with past shutdowns having minimal impact on equity markets.

9/11/2023

Cantor Warns Republicans Against Shutdown, Citing Lessons from 2013

Former House Majority Leader Eric Cantor advises Republican colleagues not to pursue a government shutdown unless they have a clear plan to come out as winners, citing the failed attempt to block Obamacare in 2013 as a major political headache that did little to hinder its rollout.

9/21/2023

Government shutdown unlikely to disrupt markets or economy

Investors shouldn't worry about a government shutdown as it is unlikely to have a significant impact on the markets.

9/21/2023

Congress Faces Risk of First Government Shutdown Since 2018's Record 34-Day Closure If New Funding Deal Isn't Reached

The US government faces a potential shutdown if Congress fails to agree on funding past September 30, which would be the first shutdown since December 2018 and could result in a longer standoff between parties.

9/27/2023

Goldman Sachs: Government Shutdown Highly Likely by October 1st Deadline, Prolonged Closure Could Stall Economic Growth

There is a 90% chance of a government shutdown, according to Goldman Sachs, as the deadline looms and little progress has been made in negotiations.

9/27/2023

Goldman Sachs: Government Shutdown Odds Now 90%, Could Last 2-3 Weeks

Goldman Sachs' chief economist predicts that the U.S. government is likely to face a two-to-three-week-long shutdown beginning on October 1 due to the failure to reach an agreement on annual budget legislation.

9/28/2023

Congress Barrels Toward Shutdown as House and Senate Spar Over Stopgap Funding Bill

Congress is facing a potential government shutdown as the Republican-led House and Democratic-controlled Senate struggle to reach a short-term funding agreement before the looming deadline.