Economic downfall to a nation is one of the tremendous turn of events a country can ever suffer. The federal state of United States enrolled a tragic moment that curtailed its fiscal operation. October 2013 is marked in the national calendar for national financial downfall (Keithly 9). Within a period of sixteen days, economic breakdown crippled the entire nation and its esteemed financial budget. Most researches in the aftermath of ‘Government Shutdown’ aims at detailing the consequences. Regarding the demand for economic understanding of the topic, this work investigates the consequential effects on the government, people and society.
US government counts enormous economic losses since it affected national growth. Research conducted by HIS organization indicated that the budget lost about $3.1 billion. This loss is monumental enough to cripple government operations. For instance, much input is underway to reconstruct colossal losses on a daily basis. On the other hand, the most unwelcoming aspect of the shutdown is felt on the national visions aimed at pushing economic stability. Therefore, US critically need to restore its ability to come over such tragedies (Keithly 6).
Conversely, the same effect is felt proportionally on the entire population and the society at large. Hundred of citizens lost their jobs as a result of the shut down. The same showdown contracted national productivity affecting the rate of investments. Currently, the nation is in a dilemma on how to define appropriate procedures on how to heal. The period has welcomed high rates of unemployment, thus, increasing rate insecurity culminating from increasing crime rates. On the other hand, increasing rates of unemployment affects socio-economic demands of the society even as the world tries to recover from global economic collapse (Keithly 9).
In sum, the national shutdown has denied US a chance to record a significant growth. The most unwelcoming aspect of it is that it interferes with the national fiscal and monetary operations. Such a turn of events requires extra efforts to contain. Besides, a collective support system is the only solution to save the government, people, and society.
Keithly, David M. The Usa & the World 2013. Lanham, MD: Stryker-Post Publications, 2013. Internet resource.