If they really shut down the government, House Republicans will be stressing the economy at the worst possible time.
Luck and skill have gotten us so close to defying the historical odds.
Our luck has lately been running lower, though, as a series of adverse shocks has hit the economy. These have included, driven by Saudi output cuts as well as strong global demand for fuel. Higher fuel prices can feed into faster price growth of other goods and services, and cause pain for businesses and consumers alike.
Then there’s the autoworker strike, which has been expanding. Idled auto factories hurt not only car companies but also other firms up and down the supply chain, such as parts manufacturers and car dealers.federal subsidy program for child care is sunsetting, which is expected to cause some care providers to close. This could in turn make it harder for some parents to continue working. Remember that happy surprise I mentioned, the stronger-than-expected labor force growth? That could soon be reversed.House Republicans have seen all these headwinds.
happened in isolation. The most recent government shutdown, over five weeks ending in January 2019, was costly, stupid and painful for federal workers, but in the end itThat was only a partial government shutdown, though, meaning some agencies were still funded. The shutdown we look headed for next week would likely affect virtually the entire federal government.
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