"Government Shutdown Looms: Impact on Social Security, Markets, and Savings Bonds"

If the federal government shuts down, Social Security payments will still be distributed as it is considered a mandatory program and not funded by short-term appropriations bills. Medicare and Veterans Affairs benefits will also continue. However, numerous publicly funded agencies will stop work, and their employees won't be paid. Nonessential actions will cease, and federal employees may be furloughed or work without pay. Programs like the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) may also be affected. A long shutdown could harm the economy, as seen in the past, with estimated costs of at least $11 billion. A government shutdown is different from a debt ceiling standoff, which was resolved to prevent disruptions to Social Security payments.