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Shutdown standoff: US special
The federal government has been partially shut down since October 1, the start of the new fiscal year. Non-essential civil servants have been furloughed, while many essential government employees are still working but are going to miss their pay check and possibly even back wages. Federal contractors are also not getting paid, which means that their workers may also miss their paychecks and get furloughed. The longer the shutdown lasts, the more likely consumer spending will slow down as people are missing income. The threat of not receiving back pay is likely to reinforce this effect. The same is true for Trump’s ... (full story)
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Top White House economic advisor Kevin Hassett on Monday predicted that the government shutdown is “likely to end sometime this week.” But if that does not happen, the Trump administration may impose “stronger measures” to force Democrats to cooperate, Hassett said on CNBC’s “Squawk Box.” The comments came deep into the third week of the shutdown, which is ...
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