Debt Ceiling Train Wreck Waiting to Happen: Shapiro  Your next
video will start in   • Info    • Comments   Sept. 30
(Bloomberg) -- Joshua Shapiro, Chief U.S. Economist at Maria
Fiorini Ramirez, along with Bloomberg’s David Plouffe and
Michael McKee, discuss the economic impact of a U.S. government
shutdown. They speak on Bloomberg Television's “In The Loop.”
(Source: Bloomberg)  Really what we are dealing with because we
really do not know what will happen.  We ended up with the cost
of $1.5 billion or a millionth of the economy.  Translate in
today's dollars two .3 billion, still one million of the
economy.  Not clear it would be a whole large hit.  What we do
not know is not only how long it lasts but how many employees
are furloughed.  Best guess around 800,000. 700,000 defense
department employees for about 3.5 days.  Not clear it is going
to be a major hit yet.  Omb will decide how many people are off
the job.  You look at what happened back in 1990 six.  Shave
half a percentage point off of gdp.  That