How us economy may be affected

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Q. The US government could not pass its annual budget. As a result, the US government has partially shut-down: roughly about 800000 federal employees of non-essential services are out of work; and US is losing roughly 300 million a day. Also in about 2-weeks, the president and congress will decide over the bigger issue of raising the debt-ceiling of the Federal Government. If the US Government fails to raise the debt-ceiling, in what way the US economy may be affected? Explain your answer very briefly.

Reference no: EM136461

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