October 1, 2025
SPECIAL EDITION
Federal government shuts down, no solution for crisis in sight
The federal government has run out of money and will shut down after Congress and President Donald Trump failed to agree on a new FY2026 funding deal.
Roughly 750,000 federal employees will be placed on furlough. “Essential employees,” including active-duty military members, will be required to work despite not getting paid. Trump and OMB Director Russ Vought have threatened mass layoffs of federal workers during a shutdown or program cutbacks.
The Senate may vote Wednesday on competing Democratic and GOP proposals to reopen the government, but neither plan is expected to pass. Both sides are deeply entrenched right now, and this shutdown could potentially drag on for days or weeks.
We’ll have much more on this in our AM edition.
– John Bresnahan
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Presented by Apollo Global Management
America’s economic growth requires bold investment. Apollo is investing in American companies to help them hire, grow and build for the road ahead. Learn more.