US President Joe Biden and one of his top advisers warned on Monday that A federal government shutdown could lead to widespread hardship, including the loss of food benefits for nearly 7 million low-income women and children.according to Reuters.
He said he and House Speaker Kevin McCarthy had agreed on spending levels for the government a few months ago. The Republican-controlled House of Representatives could try to pass drastic budget cuts this week that the Democratic-controlled Senate would almost certainly reject. Although the changes would not become law, the inability of both chambers to reach an agreement could lead to a partial government shutdown next Sunday.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
