The Government Shutdown and Debt Crisis: What it Means for the Economy

New York, NY

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The government is closed. Federal workers aren't getting paid. Markets are down and Wall Street lobbyists are flooding Capitol Hill in desperation. Some members of Congress are willing to see the United States default on our debt for the first time in our history. Is this just political theater or are there larger economic consequences to this new normal of extreme political brinkmanship?

SCEPA will host three New School economists to discuss the economic fallout of the government shut down. Professors Teresa Ghilarducci, Rick McGahey and Christian Proano will discuss the causes of the shutdown, the economic implications of increasing or not increasing the debt ceiling, and what will happen if an agreement is not reached by the deadline of October 17. The event will end with an audience Q&A.


Teresa Ghilarducci, "Economists Agree that Defaulting is Stupid"
Chair of the Economics Department at The New School for Social Research, and Director of the Schwartz Center for Economic Policy Analysis

Rick McGahey, "Why Congress is Allowing a Default"
Professor of Professional Practice in Public Policy and Economics and Director of Environmental Policy and Sustainability Management

Christian Proano, "The Dire Economic Consequences of a Default"
Assistant Professor of Economics

This event will be streamed live on The New School's Livestream channel