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martedì 1 ottobre 2013

United States: what are the consequences in case of disagreement on the budget?

According Algérie,

Hundreds of thousands of American officials begin , Monday, Sept. 30 , their work week without knowing whether they will return to work the next day. The parliamentarians effect until midnight to agree on a provisional budget and prevent a partial paralysis of the federal state .
The Senate reconvened at 20 am ( Paris ) and should , in all likelihood reject a draft budget law adopted in the night from Saturday to Sunday by the House of Representatives delayed a year reform health system advocated by Barack Obama. Negotiations between Republicans and Democrats would then be returned to the square , less than ten hours of the start of the 2014 fiscal year.
A possible outcome could occur Monday night in the final hours before the deadline , but many say they do not believe it. This would be the first shutdown , that is to say, the "closing" of the U.S. government agencies , since the winter of 1995-1996 , under the presidency of Bill Clinton. It lasted three weeks and put 800,000 people laid off.
Read also: " Obama to Congress : ' Do not close the state! ' "
In this case, spending on public safety and national security are supported , as well as social spending such as Medicare and Social Security , which benefits the elderly. Overview of the main negative consequences of a government shutdown :
Federal employees:
Up to a million federal employees can be technically unemployed APARTIR October 1st. Only a small number continue to work , including air traffic controllers or prison guards . Employees Congress could work at the express request of the member or the board that employs them.
In the past , Congress has paid the day of layoffs of federal employees. They are required to do any work during their forced leave, under penalty of severe sanctions. In 1995-1996 , over 200,000 passport applications were not processed during the closure period .
Financial Markets :
The publication of a number of statistics is blocked and IPOs may be delayed. Companies can always file certain documents with the Securities and Exchange Commission (SEC ) but the stock policeman warned Friday that the processing of applications would be disrupted if shutdown . The SEC plans to maintain only 252 employees 4149 .
army :
Military personnel continue its operations, but a large number of civilian employees would be technically unemployed , according to the Pentagon . The first notice to quit would be sent by October 1 .
Closure less than two weeks would not affect corporatebusiness the defense sector , which could then enter into contractual payments from the government, according to the rating agency Standard and Poor's. Small subcontractors may however suffer when "shutdown " extended.
Federal courts would remain open for ten days. After October 15, the situation is not clear. The Supreme Court, the fall session begins on October 17 , did not want to comment on the ongoing negotiations , but a spokesman said that in cases of similar figure, the Court continued to function normally.
At the Internal Revenue Service, the number of employees would increase from about 95 000 to less than 9000 . Call centers would be closed , and audits suspended.
National museums and parks
One of the most visible aspects would close national parks across the country and museums of Washington , which could result in a negative impact of several million dollars for the tourism sector .
Oil prices:
On Monday, oil prices popped down during Asian trade , in view of the parliamentary deadlock that can paralyze a part of the U.S. economy. A barrel of WTI for November delivery yielded 1.16 U.S. dollar Monday morning , to $ 101.71 , while a barrel of Brent North Sea crude for November delivery lost 82 cents to 107.81 dollars .
A severe impact on the economy
According to calculations published by Goldman Sachs economists , closing administrations would cost about $ 8 billion per week in the U.S. economy. This figure was obtained by examining the consequences of the " shutdown" of 1995.
le Monde fr
Etats-Unis : quelles conséquences en cas de désaccord sur le budget ?

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