OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Government Shutdown

Floor Speech

Date: Oct. 16, 2013
Location: Washington, DC
Issues: Government Operations Economy and Fiscal

Mrs. CAROLYN B. MALONEY of New York. Mr. Speaker, as the ranking member on the Joint Economic Committee, I would like to call your attention to this recent report. It is subtitled, ``Ten Ways the Shutdown is Hurting the Economy.''

Its findings are rather sobering.

The report makes it clear that the shutdown acts as a serious drag on our economy. Economists have testified before the committee that 3 or 4 weeks of a shutdown would reduce the country's gross domestic product by 1.4 percentage points. We are now entering the third week.

The shutdown harms not only Federal workers, but also the private sector. If it persists, it will reduce tourism revenue, cause contractors to lay off employees; the housing market will suffer, and public health services will feel its effects. The shutdown hurts everyone, from vulnerable mothers and children to ranchers, farmers, and agricultural exporters.

We are close to ending this crisis, and as the JEC points out in this report, it could not end faster. It is hurting our economy.


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