A shutdown of the U.S. government would reduce fourth-quarter economic growth by as much as 1.4 percentage points depending on its length, economists say, as government workers from park rangers to telephone receptionists are furloughed.If the number one priority truly is creating jobs, the economic hostage-taking must end.
Mark Zandi of Moody’s Analytics Inc. estimates a three-to-four week shutdown would cut growth by 1.4 points. Moody’s projects a 3 percent rate of growth in the fourth quarter without a closure. A two-week shutdown starting Oct. 1 could cut growth by 0.3 percentage point to an annualized 2.3 percent rate, according to St. Louis-based Macroeconomic Advisers LLC.
Friday, September 27, 2013
Mr. Speaker are jobs still your "number one priority?"
Speaker of the House, Rep. John Boehner, has repeatedly said that jobs are his "number one priority"--a statement that's hard to square with his and House Republicans' current actions. From Bloomberg