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Government shutdown unlikely to damage economy, but debt limit could be catastrophe

Publié par Clifford Armion le 10/08/2013

Ylan Q. Mui and Marjorie Censer

The economic damage from the government shutdown will probably be muted as thousands of Defense Department employees returned to their jobs Monday and lawmakers worked on a deal to provide back pay to furloughed civil servants.
Economists warned that some effects will linger, with consumers feeling spooked and pockets of the economy afflicted by closed national parks or a slowdown in government-related business.
But the collective impact of a scaled-back shutdown is expected to be small, and many economists have already shifted to sounding the alarm over a significantly scarier scenario: the likelihood that a paralyzed Congress will allow the nation to default on its debts.
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"Government shutdown unlikely to damage economy, but debt limit could be catastrophe", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), août 2013. Consulté le 19/10/2021. URL: http://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/government-shutdown-unlikely-to-damage-economy-but-debt-limit-could-be-catastrophe