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Wednesday, January 16, 2019

Trump Slump? Government Shutdown & Trade War Leave Markets on Edge

By: Wes Messamore

The federal government shutdown showdown of 2019 between Capitol Hill Democrats and President Donald Trump keeps setting records as it enters into its 26th day.

The previous longest federal shutdown in U.S. history was the 1995-’96 face-off between Speaker Newt Gingrich (leading the first Republican House Majority in 40 years) and President Bill Clinton.

That shutdown lasted into the 21st day, and it may not be a coincidence that this happened just as 24-hour news coverage on cable TV had reached a critical mass.

A theory: The spectacle and the drama of federal government shutdowns, with the resulting publicity, impels the political-media complex to these antagonisms and resolutions.

The problem for the federal government is this newly disruptive level of budgetary brinksmanship diminishes its credibility and creates instability in the economy.

Read more at CCN.