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September 30th, 2013
11:34 PM ET

The economic impact of a government shutdown

Wall Street is keeping a close eye on the budget battle in Congress. Nervous investors drove down the Dow by nearly 130 points today. What could happen if the government does shut down? CNN business anchor Christine Romans takes a closer look.

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Filed under: Christine Romans • Government Shutdown
soundoff (18 Responses)
  1. Kuna

    I think it is time for a Constitutional Amendment to limit the Presidency to one 6 year term and limit all other elected officials to 8 years of service. Lord knows the dysfunction of our government today is an embarrassment.

    October 17, 2013 at 12:33 am |
  2. michael Longmire

    Remember Mao Tse tung said "we will bury you!" well they are throwing dirt and congress is fighting eachother. How do senators and congress men and women stack up in the Chinese money game. Can you spell treason.

    October 16, 2013 at 12:26 am |
  3. eric

    Why is there no mention in the news about how all the govt contractors (and there are probably more than the govt workers that are furloughed) are now starting to file for unemployment and will be a huge burden to the state unemployment funds? I personally know of several that are now doing so (there is a week wait to file). Another nasty side effect of govt shutdown. Watch first time unemployment fillings next month – I bet they will skyrocket.

    October 10, 2013 at 2:33 am |
    • Vince

      A New Senate Deal? Or same old same old. Just kicking the can down the road. Do you remember the Gang of 6? Do you remember the Gang of 8? How about Simpson-Bowles? Again we will NOT default because we have the revenue to pay the interest on our debt and by constitutional amendment it MUST be paid first (unless Obama breaks the law). If politicians were really concerned about default where were they while we spent ourselves to $17 Trillion in Debt. The NO Party no more deficits, no more debt. Live within our revenue means. It is OR not AND. We can do X OR Y not X and Y. Or some version of X and Y. It is an allocation of resources. I am happy to let the politicians fight over what we spend our revenues on just live within our budget (oh I forgot we have no budget) and don't take on more debt to fund programs we can not afford based on our revenues (no deficits). It is NO not YES. No more deficits and No more Debt not Yes raise the debt ceiling again and Yes run ANOTHER deficit. See how horrible it gets when we go from two letter words like NO and OR to three letter words like YES and AND. Write your congress I have been for long time. I need help.

      October 16, 2013 at 3:13 pm |
  4. michael Hendricks

    The government shut down is not acceptible, Obama should be impeached the congress, senate and the house should be fired for grose negligence, if that does not take place before any funds stop for the public all polititione including the president should have there pay checks Stopped!!!!

    October 9, 2013 at 10:48 pm |
  5. stephen

    Why is it that CNN TV News announcers and others are filling the Country with a fear that the Social Security Checks are not to be paid out? Social Security funding has nothing to do with what is financially going on with Washington. These funds are there and should be provided to the people who have paid into the program.
    Just more noise from the Administration to raise fear, upset and divide the Country even more!
    As to the 'debt limit'...why is there even such a statement within the Treasury? They continue to print money as long as Congress spends. The US Debt will never be "paid in full"...never! It is ashame that the Citizens of the US have to be treated like children of a drunken parent; "do as I say, not as I do".

    October 9, 2013 at 9:51 am |
  6. p copelin

    the republicans had us in the hole & almost on the verge of a depression and they seem to want it again. the US citizens want the Health Care Act, the economy is recovering. What is wrong with Congress & Cruz ( he should go back to his wanting Independent status that Texas wants and they probably would start a civil war) I can't believe House leader B .would let a rookie lead this mess & backing him.

    October 7, 2013 at 8:35 pm |
  7. Guy Launiere

    They have enough money to finance Obamacare. Obamacare is law, it pass the house and the senate. They have to finance it.

    October 7, 2013 at 1:50 pm |
  8. Christine

    Will the civilian contractors that work on military bases also entitled to backpay when government shutdown ends?

    October 7, 2013 at 12:28 pm |
  9. DR Randolph

    Get this shut down to stop. This is absolutely ridiculous. This needs to go for a vote. The tea party is committing an act of treason against the American people. If the house majority leader will not allow this to go up for vote then many republicans need to do the heroic thing and change parties thus changing the house majority to the other side so a vote can happen. Take our country back from the tea party members who are holding the American people hostage. Then the tea party terrorists need to be put on trial for treason. Let them spend some time in the American prison system. American citizens need to take back our country and constitution.

    October 6, 2013 at 6:39 pm |
  10. Paul

    Priscila. Agree 100%. They should get neither pay nor benefits. The Rep Congress is SICK. Boehner has no backbone. He is just protecting his position. Why aren't more of us speaking out? 37% approve of Obamacare. But when it is referred to by ACA, 47% approve. and when more people learn more about it, the approval stats will increase. vote every incumbent OUT

    October 3, 2013 at 11:03 pm |
    • Guy Launiere

      Everybody will eventually get payed, retroactively. In the meantime they get to stay at home doing nothing. All they have to do is get a loan from the bank that they will payback with their backpays.

      October 7, 2013 at 1:58 pm |
  11. A Wu

    Instead of complaining about the shutdown, why don't we all take the chance to reflect on what it means to run out of money for the govt? After 2 days we are all feeling the pain. What if it was like this all year long because our govt overspent and overborrowed where we can't even pay the debt payments? This is a great painful experience to push both sides to sit, compromise and balance the budget. Both sides are equally at fault. Or it really will be this way all year round sooner or later!

    October 2, 2013 at 8:27 pm |
    • Guy Launiere

      There will not be a economix shutdown. The money is there and they will pay the bills. The republicans are saying enough of borrowing. let's cut spending instead. and they are wright. USA IS ON DEBT ROW.

      October 7, 2013 at 1:44 pm |
  12. Priscila

    I would like to start a movement or petition to get the members of congress to not get paid until the shut down is resolved. I don't know if it is constitutional or not but maybe a little financial issue in their own pocket might give them the nudge they need. Please spread the word. NY senator's office is not taking calls because of the shut down. Thank you for your time.
    Priscila.

    October 2, 2013 at 11:26 am |
    • Beth

      My thoughts exactly, Priscilla!

      October 5, 2013 at 3:11 am |
  13. M Pizzute

    Shame on all the Republicans who caused a government shutdown They should not receive a paycheck. They are not doing the will of millions of hard working American people. The public will remember this at the polls, Gov. Christie, are you listening?

    October 1, 2013 at 6:54 pm |
  14. maria benavides

    I need to know why congress, supreme justices, & president get paid in a govt shutdown. They are the first
    form of govt. If we have to put up with the choices they throw at us, they should get the same.

    October 1, 2013 at 6:47 pm |

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