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11 Ways The Tea Party-Inspired Shutdown Will Hurt The Economy

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Playinghardball Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 12:11 PM
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11 Ways The Tea Party-Inspired Shutdown Will Hurt The Economy
Source: ThinkProgress

The White House made yet another effort to broker a deal to prevent a government shutdown last night, with President Obama saying that a shutdown would be inexcusable. Even though Democrats have agreed to the initial House Republican position of roughly $30 billion in cuts from 2010′s funding level, House Republicans are still holding out for deeper spending cuts and various policy riders demanded by the Tea Party, such as cuts to funding for Planned Parenthood.

Senate Majority Leader Harry Reid (D-NV) said today that the two sides have essentially agreed on the amount of money set to be cut from the long-term budget but that Republicans have drawn a line in the sand over ideology. As Steve Benen noted, what were talking about here is Republicans shutting down the government over access to contraception and family planning services.

If the government shuts down on Friday night, all government functions deemed non-essential will be stopped in their tracks. But non-essential describes a wide variety of important government functions, which, if they stop, threaten to harm the nations fragile economy. Here are some of the economic consequences that will occur under a Tea-party inspired government shutdown:

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canoeist52 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 01:37 PM
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1. The most important effect of all is:
INSIDER TRADING INVESTIGATIONS HALTED: At the Securities and Exchange Commission, the shutdown would stop most investigatory activities, including routine sweeps and examinations of investment advisers and broker-dealers and most work on in-progress enforcement cases.
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