Republicans and Democrats still haven't broken a stalemate threatening to bring the federal government to a halt at week's end. Is the economy in for a big hit?
Posted on April 7, 2011, at 11:35 AM
House Speaker John Boehner (R-Ohio) still hasn't agreed to a budget deal with Democrats, and many commentators are wondering if a government shutdown would cripple the fragile economic recovery.Photo: Getty
Best Opinion: Huff. Post,
Investor's Business Daily, TIME
President Obama and congressional leaders failed to strike a budget deal Wednesday night that would keep the federal government running. If they don't break the stalemate by week's end, many government services will come to a halt. Obama said it would be "inexcusable" for Republicans and Democrats to reject a compromise, because a prolonged shutdown would be devastating to ordinary Americans (not to mention the country's army of federal workers.) Just how bad would it be for the economy?
This will crush the recovery: A shutdown is the anti-stimulus, says Dave Johnson at The Huffington Post. If it happens, 800,000 federal workers will be laid off, hurting every business where those staffers spend money. Companies that depend on government contracts will start running out of money if the government stays dark for a few weeks. Tourism will dry up around national parks. If this drags on, a shutdown could ruin the already fragile recovery, and even "trigger a second-dip recession."
"Republican shutdown shuts down the economy — so do the cuts they demand"
Letting Obama's reckless spending continue would be worse: No matter how painful this will be, says Investor's Business Daily in an editorial, Republicans are right to stand firm on the spending cuts they're demanding. Obama is accusing them of being "childish," but he's the one refusing to act like a grown-up. The president's "reality-defying" budget for the next decade would "add a devastating $10 trillion to our nation's debt." If the GOP doesn't "stop this fiscal folly," the nation's economic problems will only get worse.
"On budget, the children scold the adults"
Washington gridlock could actually boost stocks: If a shutdown will sink the economy, says Stephen Gandel at TIME, somebody forgot to tell Wall Street. Stocks have been buoyed by the increasing likelihood of a shutdown. The shutdowns in 1995 and 1996 did nothing to hinder that era's bull market, in part because shutting off the lights in Washington does "little to impact corporate profits." And this could actually boost consumer confidence, because after the government shuts down and the economy doesn't collapse, people will see "the economic recovery is here to stay."
"Would a government shutdown boost the market?"
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Ái chà chà
Nước Mỹ rõ ràng cũng đang gặp khó khăn, đó nha .
Cái đảng Việt cộng đừng có dựa hơi dựa hám "Đế Quốc" Mỹ nữa nha . Hãy đứng lên để không xấu hổ nhục nhã, để còn khua môi múa mép là "đỉnh cao trí tuệ loài người" đi nha .
Nhớ là đừng có bán gái Việt đi làm đĩ khắp năm châu nữa, đừng có bán dân Việt đi làm lao nô khắp thế giới nữa, đừng có bỏ tù trí thức yêu nước VN nữa và cũng đừng qua Mỹ ăn xin nữa .
Còn "vịt kiều yêu nước" ở Mỹ, cũng phải tự trọng chút chứ, cũng nên có trách nhiệm với nước Mỹ chứ !
Đừng có bòn tiền Mỹ đem về tiếp máu bơm hơi nuôi cái đảng Việt gian csVN để chúng nó BÁN NƯỚC BUÔN DÂN và lăng nhục dân tộc Việt nữa .
Còn nhiều cái "đừng .. nữa" lắm, khi nào conbenho nhớ sẽ viết thêm .
Chân thành cám ơn Quý Anh Chị ghé thăm "conbenho Nguyễn Hoài Trang Blog"
Xin được lắng nghe ý kiến chia sẻ của Quý Anh Chị trực tiếp tại Diễn Đàn Paltalk: 1Latdo Tapdoan Vietgian CSVN Phanquoc Bannuoc .
Kính chúc Sức Khỏe Quý Anh Chị .
conbenho
Tiểu Muội quantu
Nguyễn Hoài Trang
08042011
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CSVN là TỘI ÁC
Bao che, dung dưỡng TỘI ÁC là đồng lõa với TỘI ÁC
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