“Best GDP growth in more than a decade”



“Government Shutdown’s Impact Detailed In New Report”


By Sam Stein

WASHINGTON — The federal government shutdown that lasted for 16 days last month is expected to cost the U.S. economy between $2 billion and $6 billion in economic output, according to a report by the Office of Management and Budgetreleased Thursday afternoon.

Those figures, culled from independent forecasters, may be a conservative estimate, the authors note. They found that approximately 120,000 fewer private sector jobs were created during the first two weeks of October because of the dual threats of the shutdown and the standoff over the debt ceiling. Forecasters additionally expect fourth quarter real GDP growth to be 0.2 to 0.6 percent lower than what it could have been had the shutdown and debt ceiling fight not taken place.


Continue reading ““Government Shutdown’s Impact Detailed In New Report””

Corporate Profits Have Soared While Workers’ Wealth Declined


Continue reading “Corporate Profits Have Soared While Workers’ Wealth Declined”