Voice of America: Nobel Economist: Washington Dysfunction Carries Heavy Price Tag

Voice of America Voice of America is an international news and broadcast organization serving Central and Eastern Europe, the Caucasus, Central Asia, Russia, the Middle East and Balkan countries

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Nobel Economist: Washington Dysfunction Carries Heavy Price Tag Oct 17th 2013, 23:50, by webdesk@voanews.com (Mil Arcega) Many people are breathing a sigh of relief after the U.S. Congress reached a last minute agreement to end the fiscal stalemate.  But relief carries a large price tag.  The credit ratings agency Standard and Poor's estimates that the 16-day shutdown took $24 billion out of the economy and shaved more than half a percent from fourth quarter GDP growth.  But Yale University professor and Nobel Laureate Robert Shiller says the damage goes beyond dollars and cents.  Thousands ... Media files: 691331E0-421B-4D22-81D2-3F91ADB358BB_cx0_cy0_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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