Dec
26

Good-bye Government

Each day the unfunded portion of government is closed, GDP will decline by $1.25 billion; a bit more than a twentieth of a percent a week; unfortunate but manageable. A big concern: Will those laid off get paid for the time they couldn’t work? An even larger concern: Will Congress raise the debt ceiling before the government runs out of money in summer? A standoff there would be disastrous.

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