FAYETTEVLLE, AR- Economist Kathy Deck explains how the 1996 shutdown affected consumers and what's different this time around.
FAYETTEVLLE, AR-- Wall Street has seen 17 government shutdowns since 1976 and none caused a market meltdown. Not even the longest shutdown, 3 weeks from late 1995 to early 1996, rattled the stock market much.
The market fell about 3.5% then and quickly recovered. But we have another fiscal crisis popping up next month. The U.S. hits its debt limit in the middle of October. If lawmakers fail to raise the debt ceiling, investors fear the U.S. and the global economy are not strong enough to handle the sharp swings that could be in the cards.
Economist Kathy Deck explains how the 1996 shutdown affected consumers and what's different this time around. Click the video to watch.
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