Perdido 03

Perdido 03
Showing posts with label debt ceiling. Show all posts
Showing posts with label debt ceiling. Show all posts

Monday, September 30, 2013

Government Shutdown Isn't The Problem, The Debt Ceiling Fight Is

From the NY Times:

Most Wall Street economists have said that the consequences of a temporary government shutdown would be relatively insignificant, particularly because spending on essential services — a large portion of the budget — would continue. Citigroup economists estimated on Friday that a one-week shutdown would probably cause a 0.1 percent hit to the national economy.

In the long run, not a big deal, so long as some resolution is reached that allows for successful negotiations over raising the debt ceiling in a couple of weeks - or otherwise this: