Budgets Quote by Noam Chomsky
“The shutdown itself is bad but not devastating. The real danger will come up in a couple of weeks. There's legislation which is in fact routine - it's passed every year - which allows the government to borrow money, otherwise it can't function. If Congress does not approve this budget request, the government may have to default.”
About This Quote
Source Speech: Interview on US fiscal policy, 2023
The shutdown is concerning but not catastrophic; the real risk is a potential default if Congress fails to approve routine borrowing legislation.
In simple terms: Shutdown is bad; default is worse.
Key Takeaway
Ensure timely budget approval to avoid default.
Themes
government
economics
risk
policy
budget
Mood
urgent
concerned
Type
political
economic
When to use this quote
- Congressional budget approval
- government financing
- public services
- financial markets
- taxpayer impact
Key Concepts
Fiscal responsibility
default risk
legislative process
Questions to Reflect On
- How can citizens influence timely budget decisions?
- What safeguards exist against default?
A Different Perspective
If political gridlock persists, even routine borrowing may be blocked, leading to broader economic fallout.
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