Economy

Nobel Economist Says Washington Dysfunction Carries Heavy Price Tagi
X
October 17, 2013 11:34 PM
Many people are breathing a sigh of relief after the U.S. Congress reached a last minute agreement to end the fiscal stalemate. But relief carries a large price tag. The credit ratings agency Standard and Poor’s estimates that the 16-day shutdown took $24 billion out of the economy and shaved more than half a percent from fourth quarter GDP growth. But Yale University professor and Nobel Laureate Robert Shiller tells VOA the damage goes beyond dollars and cents. Mil Arcega has more.

Nobel Economist Says Washington Dysfunction Carries Heavy Price Tag

Published October 17, 2013

Many people are breathing a sigh of relief after the U.S. Congress reached a last minute agreement to end the fiscal stalemate. But relief carries a large price tag. The credit ratings agency Standard and Poor’s estimates that the 16-day shutdown took $24 billion out of the economy and shaved more than half a percent from fourth quarter GDP growth. But Yale University professor and Nobel Laureate Robert Shiller tells VOA the damage goes beyond dollars and cents. Mil Arcega has more.


You May Like

Philippines, Muslim Rebels Try to Salvage Peace Pact

Peace process faces major setback after botched military operation to find terrorists results in bloody gunbattle between government forces, Moro Islamic Liberation Front fighters More

Republicans Expect Long, Expensive Presidential Battle

Political strategist says eventual winner will be one who can put together strongest coalition of various conservative groups that make up Republican Party More

Video New Wheelchair Is Easier to Use, Increases Mobility

Engineers have come up with a lever-operated design that makes use of easily accessible bicycle technology More