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MANHATTAN MOMENT: Government shutdowns are not catastrophic

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Government shutdowns are, more than anything, political tools. Sometimes the politics end up having a net benefit — the Clinton-era shutdown turned attention to the growing budget deficit and helped generate a budget surplus. The recent shutdown, however, which lasted from Oct. 1 to Oct. 16, was different. Political brinksmanship over Obamacare and the debt ceiling were the main drivers of the...

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