Shutdown shrinks economists' optimism

[TomCADem]

Source: USA Today

Two weeks after Washington's latest showdown, more than half of economists surveyed by USA TODAY -- 56% -- are less optimistic about growth prospects than they were three months ago. The survey of 41 top economists was conducted Oct. 23-24.

What's more, repeated budget battles in Washington the past few years are having a cumulative effect. Sixty-three percent of the economists say the recurring standoffs are hurting the economy "some" or "a lot." The remainder cite "a little" damage.

"We're falling down a fiscal flight of stairs and we're bouncing from one step to the next, one crisis to the next," says Sean Snaith, an economist at the University of Central Florida. Snaith is among the economists who have turned less optimistic, saying uncertainty among businesses could persist into next year and dampen capital spending.

* * *

They now expect the economy to grow at a tepid 2.1% annual rate in the fourth quarter and 2.6% in the first quarter, down from their median estimates three months ago of 2.6% and 2.8%, respectively.


Read more: http://www.usatoday.com/story/money/business/2013/10/27/economists-survey-october/3194537/

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While the corporate media devotes its time to repeating Republican talking points regarding immigration, the ACA, and rehabilitating Ted Cruz, little attention is paid to the continuing damage of the Republicans nihilistic urge to shutdown the government. Indeed, we have come close to shutdowns in the past, and the fact of the matter is that Republicans have been looking for an excuse to shutdown the government.

[sakabatou]

1. Not surprised that these idiots are killing us.

[elleng]

2. No s**t, Sherlock!

'What's more, repeated budget battles in Washington the past few years are having a cumulative effect. Sixty-three percent of the economists say the recurring standoffs are hurting the economy "some" or "a lot." The remainder cite "a little" damage.'

IMAGINE where we'd be if repugs hadn't been playing their games since Prez O was elected!!!

[tofuandbeer]

3. In other words...the GOP succeeded. It's so simple for the GOP: keep things bad.

Last edited Mon Oct 28, 2013, 03:50 AM - Edit history (1)

They can look as horrible as the most evil force in history, but if they keep the economy down, they are doing just fine.

[Drunken Irishman]

5. Then turn around and blame the black guy.

[tofuandbeer]

6. Yes, you're right there.

[applegrove]

4. The wingnuts don't want a robust

economy. The stock market is doing fine. That is all that they want to do well. They don't want full employment. Isn't it obvious by now?

[Berlum]

7. Thanks a diaperload, RepubliBaggers (R)

Republicons crap all over America. Again. As usual.

[MissMillie]

8. But, but, but....

Fox News told us it would be so bad! (/sarcasm)

[DallasNE]

9. We Have Broken Government, That's For Sure

And it is all one-sided.

Now today, Sen. Graham has announced that he will put a hold on every person Obama nominates. What is this great principle Graham is standing on? Well, he has a primary challenger from the Tea Party so he has to show that nobody from the Tea Party can out Tea Party him.

In New Jersey the voters didn't seem all that upset with Republicans as the Tea Party candidate did as well in the recent Senate special election as a traditional Republican in that State so no harm from shutting down the government and having a dysfunctional Congress on one side of the aisle. Only the American people can stop this madness yet they have not shown a willingness to do so so here we go again in January.