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

Video One Year After Thai Coup, No End in Sight for Military Rule

Since carrying out the May 22, 2014 coup, the general has retired from the military but is still firmly in charge More

Goodbye, New York

This is what the fastest-growing big cities in America have in common More

Job-Seeking Bangladeshis Risk Lives to Find Work

The number of Bangladeshi migrants on smugglers’ boats bound for Southeast Asian countries has soared in the past two years More