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Economists: Gridlocked Congress 'Playing With Fire' As Failure To Legislate Could Devastate Economy

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Economists: Gridlocked Congress 'Playing With Fire' As Failure To Legislate Could Devastate Economy

Post by Guest on Wed Apr 06, 2011 1:29 pm

"That would be absolutely catastrophic and very likely set the stage for the U.S. economy to have a relapse into recession," said Bernard Baumohl, chief economist of the Economic Outlook Group. "That is the worst possible kind of outcome that we could have from Washington. It would be absolutely irresponsible."

In the event of a government shutdown, payments for struggling families could be delayed. In the case of a federal default, something similar could happen, but on a far larger scale. Investors across the nation and around the world hold U.S. government paper.

http://www.huffingtonpost.com/2011/04/06/congress-debt-limit-economists_n_845305.html

Guest
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Re: Economists: Gridlocked Congress 'Playing With Fire' As Failure To Legislate Could Devastate Economy

Post by Guest on Wed Apr 06, 2011 2:01 pm

you know what is going to happen... at the last minute they will pass a budget.

That is what is going to happen, no shutdown is going to occur.

Fear mongering by the polititions plain and simple...

It's all a game...

Guest
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Re: Economists: Gridlocked Congress 'Playing With Fire' As Failure To Legislate Could Devastate Economy

Post by Angelicrisis on Wed Apr 06, 2011 2:18 pm

Exclamation You just hit the nail on the head Exclamation

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Re: Economists: Gridlocked Congress 'Playing With Fire' As Failure To Legislate Could Devastate Economy

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