Carney stated that the shutdown and debt ceiling deadline fighting are bad for the US and world economy, and the effect of “flirtation” with the debt ceiling and default is “harmful to the American people in all cases.”
Amid a government shutdown, looming US default and partisan bickering in Congress, President Obama was still able to focus on one of the more positive, “cool” things about his job.
Warren Buffett likens it to a nuclear attack. Economists warn that government spending on programs like Social Security would plunge. The Treasury says the economy would slide into a recession worse than the last.