Business Groups Urge Senate to Pass Funding Bill to End U.S. Government Shutdown
Leading U.S. business groups are urging the Senate to pass a funding bill to end the ongoing federal government shutdown. They warn that the shutdown is having a widespread impact on the American economy, increasing uncertainty for economic actors.
Small businesses and the self-employed are particularly hard hit by the temporary suspension of government operations, raising concerns about job insecurity. Business groups are emphasizing the need for the Senate to act swiftly to process the budget and normalize government functions to address this situation.
Economic experts are warning that a prolonged shutdown could slow U.S. economic growth and damage the country's international credibility. The damage to America's external image could negatively affect trade negotiations and foreign investment, ultimately weakening national competitiveness in the long term. In addition, delays in implementing government economic policies due to the shutdown are disrupting corporate investment plans, which could hinder new job creation. Business groups are urging the Senate to cooperate on a bipartisan basis to pass the budget quickly, resolve economic uncertainty, and create a stable economic environment.
The effects of the shutdown are not limited to economic aspects. The disruption of government agency operations is also hindering the provision of social services, exacerbating difficulties for vulnerable groups. In particular, the temporary suspension of social welfare programs could directly threaten the livelihoods of low-income people and the unemployed, raising concerns about social unrest. Furthermore, the closure of public facilities such as national parks and museums due to the shutdown is negatively impacting the tourism industry, which could lead to a decline in regional economies. Business groups emphasize that normalizing government functions is essential for the stability and development of the economy as well as society as a whole.
Moreover, there are concerns that the U.S. shutdown could have negative impacts on the international community. Given the size and international influence of the U.S. economy, the shutdown could destabilize the global economy, which could adversely affect international trade and investment. In particular, major U.S. trading partners could suffer indirect damage, such as reduced exports and increased volatility in financial markets, which could lead to a slowdown in global economic growth. Business groups are urging the Senate to take into account the concerns of the international community, pass the budget quickly to restore America's international leadership, and contribute to the stability of the global economy.
The South Korean government is also closely monitoring the U.S. shutdown situation and carefully analyzing its potential impact on the domestic economy. It anticipates that a prolonged U.S. shutdown will inevitably have negative effects, such as reduced exports and increased instability in financial markets, and is preparing countermeasures. Lee Jae-myung, the South Korean president, instructed relevant ministries to take proactive measures to minimize the impact of the U.S. shutdown on the domestic economy and, if necessary, cooperate with the U.S. government to resolve the problem. The South Korean government hopes that the U.S. shutdown will be resolved quickly and will do its best to ensure the stable growth of the domestic economy.
Business groups are criticizing the U.S. Senate for its irresponsible delay in passing the budget and are urging a swift resolution to the problem. They emphasize that the situation in which the economy and the people are suffering due to political conflicts is unacceptable and that the Senate must listen to the voices of the people and make practical efforts to pass the budget. Business groups have stated that they will continue to monitor the Senate's budget process, actively express their opinions as needed, and present constructive alternatives to solve the problem. In addition, business groups emphasized that the government, businesses, and the people must work together to overcome the economic difficulties caused by the shutdown and create a more developed future.
