There are many who are downplaying concerns about the October 17 deadline for approving a routine measure that allows the U.S. to manage its finances and pay the bills it already owes. Without approving an increase in the debt ceiling, it will be difficult for the U.S. federal government to pay its bills on time – likely leading to default. Because of the central role these regular payments play in the U.S. and global financial system, many experts say a default on U.S.

While there has been substantial media coverage of how a prolonged shutdown would affect disability and pension payments to veterans, what has been lost in most of the coverage is that large numbers of veterans are being affected now. As more than 800,000 federal employees face furloughs, it is rarely mentioned that a quarter of the federal workforce is made up of veterans, many of them disabled.

Now that the U.S. federal government has been shut down, what does that mean for the economy? It depends on a lot, namely how long it lasts. But it is already rattling markets and is estimated to have negative economic impacts, according to news reports. Members of both political parties have stated that the shutdown is not good for the economy. The White House has stated that a one-week shutdown (which some experts view as likely) would cost the economy $10 billion.

It could be said that in this last week of the government’s fiscal year, the unstoppable force of House Republicans is meeting the immovable object of Senate Democrats. Although it may not be quite a fait accompli yet, the likelihood of a government shutdown seems be getting higher each day with no annual spending bills yet passed by Congress and enacted. If a shutdown does occur on Oct. 1 (or at some later point due to a mini-interim spending bill postponing it), what would it look like and how would it affect Americans?