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As Shutdown Stretches on, Debt Ceiling Questions Loom

The partial government shutdowns could affect investors soon, because if the debt limit isn't raised we could see an increase in rates and a decline in liquidity.

Aron Szapiro

Aron Szaprio: As the shutdown stretches into its fourth week, I've been getting a lot of questions about whether anything has changed. I wrote a column earlier in the shutdown explaining that we've got a lot of experience with these, and longer ones  of course slightly ding the economy. But the big story is that shutdowns are really a lagging indicator of governmental dysfunction and a leading indicator that it will be hard for Congress to accomplish much going forward.

Shutdowns have been a regular feature of American government ever since Congress set up the modern appropriations process way back in 1974. If I can paraphrase "Casablanca": This is just like any other shutdown, only moreso.

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