its when the gov cant make a budget in time, and many fed employees wont be paid. and some services shut down.
its happened few times in last 100 years. though each time its happened, we didnt have a rediculous debt to come back to. like the shutdowns then, just saved money till the budget was balanced, and everything was back up.
a gov shutdown now is a little different, it would take 150 years of paying debt before the budget can be balanced again.
im sure they will have yet another temp fix that buys time till the next budget is due. or just print some more cash and scam it all again.
interesting note; the budget hasnt been balanced and shown to us since clinton's first year.
it use to be american tradition to view the budget in the papers for a good 200 years. but that has ended and we just been in the red and getting worse without anything being forced to budget it.
bush wasnt even the worst at it as people tend to believe.
obama has doubled the size of the gov and more then tripled its spending since bush.
he started in the red, and took us deeper. im not sure why congress keeps voting yes on all this stuffty new gov growth. usually the definition of using a budget means, you make decisions based on being able to afford it.
its like they literally know we are going to crash, and they are running up credit cards not giving a forget, seeing how much they can do till it all ends.