The government is closed. Federal workers aren't getting paid. Markets are down and Wall Street lobbyists are flooding Capitol Hill in desperation. Some members of Congress are willing to see the United States default on our debt for the first time in our history. Is this just political theater or are there larger economic consequences to this new normal of extreme political brinkmanship?
SCEPA will host three New School economists to discuss the economic fallout of the government shut down. Professors Teresa Ghilarducci, Rick McGahey, and Christian Proaño will discuss the causes of the shutdown, the economic implications of increasing or not increasing the debt ceiling, and what will happen if an agreement is not reached by the deadline of October 17. The event will end with an audience Q&A.