Economy's Resilience Tested by Government Shutdown and Strikes

The prospect of a government shutdown in the United States poses a new threat to the already strained American economy. With rising gas prices, imminent student loan payments, and depleting pandemic savings, economists warn that a combination of disruptions, including an ongoing autoworkers' strike, rising borrowing costs, and a drop-off in child-care funding, could strain family budgets and slow down economic growth. The shutdown alone could cost the U.S. economy $6 billion per week, while the autoworkers' strike has already resulted in significant economic losses. The triple whammy of student loans, shutdown, and strikes could potentially shave off more than 1 percent of annualized economic growth in the fourth quarter.