Renowned economist Art Laffer told Newsmax on Monday he believes federal lawmakers will reach an agreement with President Joe Biden to avoid a government shutdown, but should one occur, it will be brief and have minimal impact.
During an interview on “Meet the Press” on Sunday, former President Donald Trump said he would favor a government shutdown if a budget agreement can’t be worked out between Republican lawmakers and the Biden administration because of the ever-increasing federal debt.
“A continuing resolution would make sense for a month or so,” Laffer told “American Agenda.” “But the threat of a shutdown looms much larger than the actual shutdowns themselves.
“We have not had a major government shut down because of the budget in a long, long, long time, and I don’t expect this will be one of those times. And if it does happen, it will happen for such a short period of time that it will have a very minimal impact on the country.”
The Republican-controlled House and Democrat-led Senate have until Sept. 30 to avoid the fourth partial government shutdown in a decade by passing spending legislation that Biden can agree to to kep the federal agencies running.
“These people scream and holler ‘wolf’ nonstop, and you’ve seen it every single time we get to a budget deadline, they scream and holler at the end of the Earth [that] the U.S. is losing all of its credibility, and it never happens, and it’s not going to happen this time, either.,” Laffer said.
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Michael Katz ✉
Michael Katz is a Newsmax reporter with more than 30 years of experience reporting and editing on news, culture, and poltics.
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