The debate today is the budget and because both parties cannot agree on terms of the budget for the rest of 2011. Republicans and Democrats cannot agree on the amount that should be cut from the federal budget. The Democrats have agreed to cut 33 billion from the budget but Speaker of the House John Boehner and the Republican caucus doesn’t believe the cuts are enough. Obama in a public address said it scolded the Republican Party for taking a non-compromising approach to the new budget. This shutdown could also affect the economy which is beginning to recover.
All non-essential programs would cease to function until the budget issue is resolved. Numerous federal programs would be affected by a shutdown including agencies which help new applicants for veteran, social security and food stamps benefits. All national parks and museums would cease operations. Also affected would be certain legal proceedings such as bankruptcy.
People who have retained bankruptcy attorneys to help them with debt relief could see a delay in cases. The numerous citizens who are struggling with debt will have to wait for now. Even though it isn’t a crucial issue for our government; bankruptcy lawyers and their clients will be affected by the delay of their bankruptcy proceedings. The effects that a shutdown has on the Stock Market and the overall economy could lead more people to accumulate more debt further making more businesses and individuals have the need for bankruptcy attorneys.
