Some Effects of Govt Shutdown Week 1

[Katashi_itto]

The economy has begun shrinking. Morgan Stanley analysts estimate that the Republican shutdown will "trim annual GDP growth by approximately 15 basis points per week of closing."

With stocks down in seven out of the last eight sessions, the GOP's wealthy patrons are already paying for its antics.

Now it gets worse: Investors won't receive the government reports they depend on. Twitter and other companies may not even be able to conduct their much-awaited, and supposedly wealth-producing, IPOs.

Starting Tuesday, individual Americans will join the ranks of hostages. 800,000 households (I am one of those households, Although I've a good bit of savings) will suffer immediately, as their paychecks stop arriving. Soon others will share their suffering, as the businesses which depend on those families lose revenue and are forced to lay people off.
....
A party which has been cynical and greedy for a long time has now become something even more disturbing: It has become irrational.

This is no longer a hostage negotiation. It has become something far more unpredictable.

Republicans have come full circle from the days when Ronald Reagan proclaimed that "it's morning in America." It's midnight in John Boehner's America as we write these words, and the shutdown has officially begun.

Excerpted from: http://smirkingchimp.com/thread/richard-eskow/51897/the-shutdown-republicans-win-standoff-shoot-hostages-anyway

[RebelOne]

1. "The elderly and disabled will soon be forced to sacrifice as their checks fail to arrive."

That is a scare tactic. Where did you hear that? Social Security checks will not be affected.

[Katashi_itto]

2. I didn't catch that. I agree that's why I excerpted it. I didn't like the entire article

[RebelOne]

3. Sorry. You are forgiven. n/t

[Katashi_itto]

4. .

[jeff47]

5. Not directly. But there are side-effects that will eventually stop them.

For example, the checks are printed on paper. With toner. The supply of both is not infinite. The printers are powered by electricity. The utility will want to actually be paid for providing electricity. Adding new people to the rolls of the disabled requires "non-essential" personnel. And so on.