7/23/2011

So what happened during the debt ceiling shutdown during the Clinton administration?: Stock prices

In President Obama's press conference on Friday, he was asked what would happen to the stock market:

Q Yes, the markets are closed right now, obviously. What assurances can you give people on Wall Street? Are you going to be reaching out to some people on Wall Street so that when Monday comes we don’t see a reaction to the news that’s developing right now?

THE PRESIDENT: I think it’s very important that the [Republican] leadership understands that Wall Street will be opening on Monday, and we better have some answers during the course of the next several days.


President Obama seems pretty concerned that if a deal is reached soon, it will have a significant effect on the stock market. So what happened during the Clinton administration shutdowns? Well, it was hardly the disaster that people expected then or now.



If you are interested in seeing the impact on GDP growth and unemployment see here or interest rates see here.

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