Boys and girls, here's what we're looking at with this economic crisis dealie being pushed to the brink by the Republican Party:
We've already lost an estimated 900,000 jobs. The unemployment rate is nearly half a percentage point higher than it would be without their shenanigans. Economic growth is lower by a third of a point than it should be. And "a short debt default -- which could be just short days away -- could
cause unemployment to spike to 8.5 percent from 7.3 percent and cost 2.5
million jobs ... A longer default, lasting a
couple of months, would cause an even deeper recession, pushing
unemployment to 8.9 percent and costing 3.1 million jobs." This, according to Macroeconomic Advisors, quoted here.
Rep. Morgan Griffith of Salem (but representing somewhere else, the 9th District) has called his party's posturing a parallel to the American Revolution. I think he meant "American revulsion." The ignorance and stupidity is mind-numbing.