October 2, 2013
The Economic Consequences of a Government Shutdown

Deviancy can’t be defined much further down.
Not when it’s a semi-relief that House Republicans are “only” holding the budget, and not the debt ceiling, hostage in their bid to subvert the democratic process. (Though let’s give the second one a few more weeks before we start celebrating). But any kind of relief over a government shutdown instead of a government debt default, while understandable, is a bit silly. It’s true that the latter is much, much more damaging than the former, but that’s like saying high blood pressure isn’t as bad as a heart attack. Well, yes. But they’re both still bad!
The economic consequences of the shutdown probably won’t be large, but they might be larger than we think. Here’s what we know, and what we don’t know yet.
Read more. [Image: Reuters]

The Economic Consequences of a Government Shutdown

Deviancy can’t be defined much further down.

Not when it’s a semi-relief that House Republicans are “only” holding the budget, and not the debt ceiling, hostage in their bid to subvert the democratic process. (Though let’s give the second one a few more weeks before we start celebrating). But any kind of relief over a government shutdown instead of a government debt default, while understandable, is a bit silly. It’s true that the latter is much, much more damaging than the former, but that’s like saying high blood pressure isn’t as bad as a heart attack. Well, yes. But they’re both still bad!

The economic consequences of the shutdown probably won’t be large, but they might be larger than we think. Here’s what we know, and what we don’t know yet.

Read more. [Image: Reuters]

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