An update on the government shutdown from Rep. Doggett

October 11, 2013

Just came from participating at the Capitol in our Fiscal Working Group.  Contrary to the illusions of some Texas Republican colleagues that ignoring next week’s debt ceiling appears to be no big deal, J.P. Morgan financial experts say “effects of a default could be substantial.”  With federal default looming on October 17, “… Americans’ confidence in the economy has deteriorated more in the past week than any since 2008. … Federal debt default would rank as one of the more unprecedented economic and financial events in the country’s history.”  To preserve economic security, we must overcome the shutdown/default caucus.  Rep. Doggett