1. SHUTDOWN COSTS
Shutdown = Sandy + Katrina: Will the shutdown wallop the economy, really? Like a hurricane, some analysts say. The economic ruins could pile up as high as those left by Sandy and Katrina combined, if the shutdown lasts a couple of weeks. We are talking $55 billion in a month, one economist says. More than a billion dollars a week will be gone with the wind. That’s the lost pay of 800,000 furloughed workers. That’s like cutting the jobs to all of the automobile factory workers in the country. But it goes a lot farther. Uncle Sam will halt deals with a lot of businesses in America, which could wash away many more paychecks.
2. SHUTDOWN POLITICS
Don’t talk to me: Do you like playing hooky to hang out in your jammies in front of daytime soaps? The first government shutdown in 17 years is giving thousands of government employees a chance to join you on their furlough. But Congress and the president will be getting dressed for work today. Washington hosts its own melodrama when senators come back this morning. Look for them to reject the House spending bill, because their GOP buddies in the House tried to torpedo Obamacare – again. They’re not really on speaking terms anymore, says Majority Leader Harry Reid. American’s are peeved with Congress, too. Their job approval rating is 10% – an all time low. “It’s beyond pathetic,” says CNN’s John King. It makes for compelling daytime drama.
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article courtesy of CNN.com
5 Things To Know For Your New Day – Tuesday, October 1 was originally published on praisecleveland.com
