Economic Harm of the Shutdown

Floor Speech

Ms. KAPTUR. Mr. Speaker, this Republican shutdown and their threats not to pay America's bills are not only reckless, but they're playing with economic fire. Their irresponsibility is burning the American people.

There are currently more than 800,000 Federal employees out of work, with thousands already filing for unemployment benefits because they've been furloughed by the GOP shutdown. These are working men and women who have to pay their bills, their mortgages, their car loans.

The Republican shutdown is harming the whole economy. The Dow Jones Industrial Average went down another 136 points yesterday and has been down nearly 200 points during the course of this Republican shutdown. It is currently at its lowest levels in a month.

Global markets continue to slide due to the uncertainty that the Republican shutdown has caused. According to news reports, it has already cost us over $2 billion because of the shutdown, and it is hurting U.S. trade because inspections of imports and applications for exports can't be cleared by agencies like the EPA due to the fact that the staff in charge has been furloughed.

Mr. Speaker, it is well over time to bring up a clean continuing resolution for a vote. End this needless Republican shutdown, which is not only hurting the American people, but the entire economy.

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