It's worth reading this note by Elliot Clarke from Westpac (highlighted in Macrobusiness) - who says In and of itself, the passing of a new spending authority...

Tom McKay

It's worth reading this note by Elliot Clarke from Westpac (highlighted in Macrobusiness) - who says In and of itself, the passing of a new spending authority should have merely been a procedural matter. That it has turned into such an ordeal emphasises the hostility between the two parties, and raises material concerns over the likely conclusion to the much more important debt ceiling debate, set to come to a head in the next fortnight. Clarke notes all the major payments that fall during the next month and concludes... a delay of more than a few days could see the US economy verge on stalling. Further, the direct and confidence-related impact of a shutdown at this juncture could linger well into 2014. (VIEW LINK)


Comments

Please sign in to comment on this wire.