The Impact of the Shutdown thread

[VectorVictor]

Now bring me up to speed- is it still Bush's fault?

 

Yes, but also the fault of the GOP in Congress for not enacting stricter laws and regulations to prevent the 2008 meltdown from happening again.

 

Even during the 1980s, there was still a sense of social responsibility on the part of corporations--when the S&L fiasco hit, while it took a while for the GOP to get on board, they eventually did and some of the best and most comprehensive financial and banking regulations this country had seen since the Great Depression were passed. The GOP understood that everyone is tied together in the economy, across the board. Their legislation was a proverbial rising tide that helped lift all boat...and it could be argued, in a way helped to pave the way for the economic boom experienced in the 1990s.

 

Was this legislation optimal, or what the Republicans wanted as a whole? No, far from...but it sure was a far cry from the jack and s**t that the zealot fringe controlling the GOP has produced post-2008 meltdown.

[JJ Husker]

Now bring me up to speed- is it still Bush's fault?

 

Yes, but also the fault of the GOP in Congress for not enacting stricter laws and regulations to prevent the 2008 meltdown from happening again.

 

Even during the 1980s, there was still a sense of social responsibility on the part of corporations--when the S&L fiasco hit, while it took a while for the GOP to get on board, they eventually did and some of the best and most comprehensive financial and banking regulations this country had seen since the Great Depression were passed. The GOP understood that everyone is tied together in the economy, across the board. Their legislation was a proverbial rising tide that helped lift all boat...and it could be argued, in a way helped to pave the way for the economic boom experienced in the 1990s.

 

Was this legislation optimal, or what the Republicans wanted as a whole? No, far from...but it sure was a far cry from the jack and s**t that the zealot fringe controlling the GOP has produced post-2008 meltdown.

 

Gotcha! And to summarize your posting history;

 

Fault lies with;

Bush. check

The GOP. check

the Tea Party Movement. check

 

The totally innocent and not at fault parties;

Obama. check

the DNC. check

Anyone who puts a D behind their name. check

 

Thanks for clearing that up for me. I now totally understand.

[BigRedBuster]

Now bring me up to speed- is it still Bush's fault?

 

Yes, but also the fault of the GOP in Congress for not enacting stricter laws and regulations to prevent the 2008 meltdown from happening again.

 

Even during the 1980s, there was still a sense of social responsibility on the part of corporations--when the S&L fiasco hit, while it took a while for the GOP to get on board, they eventually did and some of the best and most comprehensive financial and banking regulations this country had seen since the Great Depression were passed. The GOP understood that everyone is tied together in the economy, across the board. Their legislation was a proverbial rising tide that helped lift all boat...and it could be argued, in a way helped to pave the way for the economic boom experienced in the 1990s.

 

Was this legislation optimal, or what the Republicans wanted as a whole? No, far from...but it sure was a far cry from the jack and s**t that the zealot fringe controlling the GOP has produced post-2008 meltdown.

 

Gotcha! And to summarize your posting history;

 

Fault lies with;

Bush. check

The GOP. check

the Tea Party Movement. check

 

The totally innocent and not at fault parties;

Obama. check

the DNC. check

Anyone who puts a D behind their name. check

 

Thanks for clearing that up for me. I now totally understand.

 

 

Hey...don't question the party line.

[VA Husker Fan]

From the OP:

ITT: discussion purely about quantifying & qualifying the effects of the government shutdown in all areas.

 

NotITT: discussion about the ongoing political maneuverings and who's to blame, etc. See Government shutdown thread

 

Didn't take long to send this thread off the rails.

[Junior]

http://www.politico.com/story/2013/10/government-shutdown-nutrition-program-poor-97832.html

 

WIC serves nearly 9 million mothers and young children, providing what advocates say is vital nutrition that poor families might otherwise be unable to afford.

 

Schoenberger, for example, said her son goes through about $40 worth of formula a week. "It's like a car payment," said the unemployed mother of three.

 

The Special Supplemental Nutrition Program for Women, Infants and Children — better known as WIC — supplies low-income women with checks or debit cards that can be used for infant formula and cereal, fruits and vegetables, dairy items and other healthy food. WIC also provides breast-feeding support and nutrition classes. Poor women with children under 5 are eligible.

[Excel]

So this is a big one. New ALARACT today suspends all Army PCS moves and most non deployment related TDY to include travel to HRC for boards. That's a huge deal. Lots of peoples' careers just got set back.

 

Layman's terms:

Soldiers with reassignment orders moving them to a new post that haven't left yet are now stuck in place.

Soldiers in the window to be considered for promotion will now have to wait longer.

Soldiers on orders for just about any type of military schooling will not be attending.

[VectorVictor]

Looks like the House's myopia is extending its impact to Military familes: Death benefits for funeral expenses are suspended for the families of fallen soldiers.

 

Link

 

The families of five U.S. service members who were killed over the weekend in Afghanistan have been notified that they won't be receiving the $100,000 benefit normally wired to relatives within 36 hours of the death. The “death gratuity” is intended to help cover funeral costs and help with immediate living expenses until survivor benefits typically begin.

 

This, taking food from women and children...too bad Boehner and the zealots don't have the cojones to allow a clean bill for an up/down vote in the House. This shutdown would already be over if they weren't afraid to face the music of their poorly-rationalized decision.

[Army Husker]

So this is a big one. New ALARACT today suspends all Army PCS moves and most non deployment related TDY to include travel to HRC for boards. That's a huge deal. Lots of peoples' careers just got set back.

 

Layman's terms:

Soldiers with reassignment orders moving them to a new post that haven't left yet are now stuck in place.

Soldiers in the window to be considered for promotion will now have to wait longer.

Soldiers on orders for just about any type of military schooling will not be attending.

I'm currently adrift in this boat. The military is going to lose hundreds of millions on this pseudo stop loss when it's all done and said with.

[Junior]

http://www.slate.com/blogs/future_tense/2013/10/09/antarctica_research_comes_to_a_halt_because_of_government_shutdown.html?wpisrc=newsletter_jcr:content

 

The National Science Foundation staffs three main research centers in Antarctica—the McMurdo, Amundsen-Scott, and Palmer stations—and all of them are about to become ghost towns, thanks to the government shutdown. Unfortunately, this doesn’t just mean a few college kids will miss out on field trips. Forced evacuation from Antarctica means a colossal disruption to new and ongoing science, including that which helps us understand climate change.

[Omaha-Husker]

http://www.omaha.com/article/20131011/GO/131019824/1685#with-government-shut-down-new-omaha-breweries-licenses-in-limbo

 

 

 

 

When nonessential federal government offices shut down earlier this month, a branch of the U.S. Treasury Department called the Alcohol and Tobacco Tax and Trade Bureau was among them. The bureau licenses new breweries.

 

Multiple new breweries in Omaha are being slowed down by this. Time to write my congressmen.

[StPaulHusker]

http://www.omaha.com...censes-in-limbo

 

 

 

 

When nonessential federal government offices shut down earlier this month, a branch of the U.S. Treasury Department called the Alcohol and Tobacco Tax and Trade Bureau was among them. The bureau licenses new breweries.

 

Multiple new breweries in Omaha are being slowed down by this. Time to write my congressmen.

 

Now they have gone too far.

[suigeneris]

Fiscal Policy Uncertainty: Since late 2009, fiscal policy uncertainty has raised the Baa corporate bond spread by 38 basis points, lowered GDP growth by 0.3 percentage points per year, and raised the unemployment rate in 2013 by 0.6 percentage points, equivalent to 900,000 lost jobs.

 

Government Shutdown: A 2-week partial government shutdown would directly trim about 0.3 percentage points from 4th-quarter growth.

 

The Debt Ceiling: The paper considers two scenarios. The first assumes a brief, technical default that is quickly resolved, and the second assumes an extended, two-month stalemate. 1. In scenario one, risk aversion rises, financing costs rise, prices of risk assets fall, and the economy enters a recession. Exacerbated by the Fed's inability to lower short-term interest rates, growth only begins to rebound at end of 2014 and the unemployment rate rises to a peak of 8.5% before starting to decline. At its peak, 2.5 million jobs would be lost. 2. Scenario two implies a longer and deeper recession than in the first scenario, but one characterized by extreme volatility. Annualized GDP growth fluctuates rapidly between plus and minus 8% until the oscillations diminish in 2015. Unemployment rises to a peak of 8.9% — equivalent to 3.1 million lost jobs — before trending down.

Peter G. Peterson Foundation (Peter Peterson is a former Secretary of Commerce in a Republican administration and started the Blackstone Group).

 

Goldman Sachs survey suggests that 40% of consumers have scaled back spending during the shut-down. CNBC.

 

Only two days 'til Thursday . . .