The economic effects of the shutdown and possible debt default

The economic effects of the shutdown and possible debt default
The economic effects of the shutdown and possible debt default

The economic effects of the shutdown and possible debt default

The government shutdown has had a wide range of effects, from closing national parks to furloughing federal employees, but it’s yet to be seen just how it will impact the overall economy. Even if the government opens for business again, the United States still faces an October 17 deadline for raising the debt ceiling, which most economists say would have a significant impact on both the U.S. economy and global markets. Joe Minarik from the Committee for Economic Development shares lessons we can draw from the past and what we can expect moving forward. Photo: Flickr/batterjob32