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Another Year; Another Possible Government Shutdown

September 25th, 2015 by WCBC Radio

A possible U.S. government shutdown on Thursday, Oct. 1 has once again raised the prospect of throwing federal agencies into chaos, costing taxpayers billions of dollars in lost government productivity, along with a wide range of interruptions that will put a damper on billions more in business and personal financial transactions. In January 2014, the Bureau of Economic Analysis estimated the direct impact of the last shutdown, in October 2013, lopped about three-tenths of a percent off real gross domestic product growth in the 2013 fourth quarter. The 16-day shutdown also sidetracked the creation of an estimated 120,000 new jobs, according to a report from the Council of Economic Advisers.  Maryland which is home to thousands of government workers, has particularly hit hard. Comptroller Peter Franchot is hopeful that common sense will prevail and a shutdown can be averted..





 

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