Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
October 31, 2014

Chart of the Day

10112013 crisis driven report chart 5 Chart of the Day

Brad Plumer highlights this chart from a new report by Macroeconomic Advisers finding that “Congress’s budget fights, debt-ceiling stand-offs, and spending cuts have cost the U.S. economy nearly 3 percent of GDP since 2010. That’s roughly $700 billion in lost economic activity — all thanks to Congress.”

“Their implication is that growth would be higher without all this brinkmanship. The increased policy uncertainty, the report claims, ‘lowered GDP growth by 0.3 percentage points per year, and raised the unemployment rate in 2013 by 0.6 percentage points, equivalent to 900,000 lost jobs.'”

” Congress’s budget battles have cost the United States roughly 3 percent of GDP, or around $700 billion of wasted economic potential since 2011.”

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