A few weeks ago, pundits were predicting dire consequences if the government shut down. As near as I can tell, except for the National Park Service acting more thuggish than usual, nothing really happened. People are still getting their social security checks. American soldiers are still getting killed in Afghanistan. Some government web sites have annoyingly shut down, as if it costs more to run a web site that provides information than it does to operate a site that only says it will refuse to provide that information.
national debt
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This debt clock seems to be off, as the current debt ceiling is just under $16.7 trillion. But it shows how fast Congress is spending money.
Now the predictions about what will happen if Congress refuses to increase the debt ceiling are even more dire. I don’t really buy that either. Investors know that this is just a political spat; if they believe that the United States can support more than $16.7 trillion worth of debt, they’ll believe it just as much a few weeks from now as today.
