Americans Face Federal Government Shutdown

Both parties stand their ground in the battle over debt ceiling and Obamacare.
4:13 | 09/30/13

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:

{{nextVideo.title}}

{{nextVideo.description}}

Skip to this video now

Now Playing:

{{currentVideo.title}}

More information on this video
Enhanced full screen
Explore related content
Comments
Related Extras
Related Videos
Video Transcript
Transcript for Americans Face Federal Government Shutdown
As they come on the air we hear you. We have been tracking the words all of you have been using all day about what is going on in washington, orders like bizarre, sabotage, blackmail and enough. The president expressed outrage that one faction in one house of congress is ready to bring the entire federal government to a halt. Here's our shutdown clock counting towards midnight. Jonathan karl now looks at the shutdown that seems both real and surreal. Jon. Reporter: At this point a shutdown looks unavoidable. The only question is how long will it last. With a shutdown now all but certain, the president issued a warning. A shutdown will have a very real economic impact on real people. It would throw a wrench into the gears of our economy at a time when those gears have gained traction. Reporter: He placed the blame entirely on conservative republicans in the house demanding an end to obama care. One faction of one party in one house of congress in one branch of government doesn't get to shut down the entire government just to respite the results of on election. Reporter: Not everything gets shut down. Troops will continue to be paid. Social security checks will continue to go out. Medicare and medicate benefits, too and the post office will remain open. Veteran support centers will be closed, more than 800,000 federal workers told to stay home without pay. It's washington dysfunction at its absolute worst, unreasonable demands, no negotiating and lots of name calling. Blatant extortion. Hostage taking tactics. We're dealing with an arcists. Reporter: The bill they are arguing about would only fund the government for six weeks, republicans voted 46 times to repeal obama care are still insisting that they won't fund the government without at least some change to the law. It's time for the senate to listen to the american people and pass a one year delay of obama care. Reporter: It all adds up to a terrible sieve iks lesson for these middle school students from colorado among the tourists visiting washington, getting in as many monuments as they can before it shuts down tomorrow. It's very disappointing to me because it's sending a message that the government cares more about that are parties than they do us, the american people. Reporter: One thing not effected by a shutdown is congressional paychecks. Even during a shutdown members of congress like the president and the vice president will continue to get paid. Diane? So they consider themselves social. Thank you so much, jon. The threat of a government shutdown has forced americans to pay a price. The markets were down. The dow fell 128 points. Rebecca jarvis is here to bring us to the american home. Tell us how much it's going to cost the average american family budget. Reporter: Thousands of dollars, diane. All of this d.C. Dysfunction we know comes at a cost for real people, the american people. It creates uncertainty and economists think it could cost our economy $8 billion a week. Look at the last shutdown. That was 17 years ago. Stocks back then fell 3.7 percent. If that were to happen today, retirement savings accounts could lose as much as $9,000 in a span of just a couple of weeks, diane. The previous experience was rather limited, rather short. We're talking about an even bigger threat looming ahead. Reporter: Yes because we have another major battle. It's probably something for some that will say crises fatigue. The reality of the situation we're talking about once we faced this before we faced a credit crises in this country, trillions of dollars in wealth wiped out in a matter of couple of days, a debt downgrade and that will come october 17th when we run out of money. This is different. This is an even more seismic shift right now. Thank you rebecca jarvis.

This transcript has been automatically generated and may not be 100% accurate.

{"id":20426062,"title":"Americans Face Federal Government Shutdown","duration":"4:13","description":"Both parties stand their ground in the battle over debt ceiling and Obamacare.","section":"WNT","mediaType":"Default"}