Opinion | Government Shutdowns Might Get a Lot Scarier
Opinion | Government Shutdowns Might Get a Lot ScarierA government shutdown like the one that might happen next week will interrupt many essential government functions. But it won’t cause a run on the banks or shake the financial system. It will not cause disruptions in the payment of Social Security or Medicare benefits. That’s because Congress has given scores of government agencies power to independently finance themselves, reasoning that their functions are too important to be left to the uncertainties of the annual appropriations process. But now, the constitutionality of independent agency funding is at risk in a case pending before the Supreme Court. The opinion could lead to a sea change in how essential government agencies function — and to potential chaos every time Congress engages in brinkmanship over funding. In the case, known as CFSA v. CFPB, the Community Financial Services Association is seeking to block the enforcement…