Episode 167: Viewing the World Through Panic-Tinted Glasses
Words & Numbers
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The Cost of a Shutdown
If it saves one life from column A, it may cost three in column B. The president of the Federal Reserve Bank of St. Louis estimated that the shutdown is going to yield a 30% unemployment rate and a 50% reduction in GDP this year. If you run the numbers, that ends up being about a $2.6 trillion price tag.
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