Thursday, October 10, 2013

Shutdown Dominoes

"This is the way the world ends, not with a bang but a whimper." -- T.S. Eliot

   As the government runs out of money during the shutdown, billions in domestic spending stops. Government employees, retirees, pensioners, the disabled and others will lose their monthly benefits and be unable to pay the rent or buy food.
   Meanwhile, the flow of foreign aid will also dry up, and the economic hit will leave overseas economies beached.
   To cite just one example, aid to Egypt amounts to some $1 billion yearly.  Aside from the argument that the Cairo government is failing to bring peace to that nation and withholding the cash is a way of making a point, if Washington has no money to pay veterans' benefits and to fund other domestic programs, stopping the cash flow may well collapse the world economy.
   Think on it, politicians, while you deny the warnings.

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