Economic Insights – August 2011

Earlier this month, America succeeded in averting the “partial shut-down” of the federal government, which would have occurred had we not raised the “debt ceiling.”  While a partial shut-down would have been disruptive to the receivables departments at government contractors, as well as for a large number of furloughed bureaucrats, it would have had little or no impact on America’s credit rating. On the other hand, the unwillingness to cut $6 trillion or so in cumulative deficits planned for the next 10 years means that we’re still subject to downgrades. In hindsight, the primary impact of t.....
This content is for BUSINESS BRIEFINGS members only.