The shutdown has exposed Trumponomics for what it is: a disaster | Robert Reich
Federal spending accounts for just over 20% of the total economy. When that spigot is turned halfway off, as it is now, demand for goods and services necessarily drops. The result is less investment and slower growth.
Right now some 800,000 government employees aren’t collecting paychecks. Nor are hundreds of thousands of government contractors being paid. None of them can buy as much as before.
It’s just another aspect of Trumponomics, which stands for the highly dubious proposition that prosperity comes from cutting taxes on corporations and the wealthy, while squeezing American workers – the people who do most of the buying.
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