{"id":82699,"date":"2017-09-01T08:17:25","date_gmt":"2017-09-01T12:17:25","guid":{"rendered":"https:\/\/stateofthenation2012.com\/?p=82699"},"modified":"2017-09-01T08:19:51","modified_gmt":"2017-09-01T12:19:51","slug":"flashback-%e2%87%89-goldman-proclaims-that-there-is-a-50-chance-of-a-government-shutdown","status":"publish","type":"post","link":"https:\/\/stateofthenation2012.com\/?p=82699","title":{"rendered":"<b>FLASHBACK<\/b> \u21c9 Goldman proclaims that there is a \u201850% chance\u2019 of a government shutdown on August 18th"},"content":{"rendered":"<h1 class=\"title\">Goldman: There is a \u201850% chance\u2019 of a government shutdown<\/h1>\n<p><!--more--><\/p>\n<div class=\"story-top\">\n<div class=\"story-header-left twoCol\">\n<div id=\"article_deck\" class=\"content\">\n<div class=\"group-container last\">\n<div class=\"group\">\n<ul>\n<li class=\"\">Goldman Sachs says there is a &#8220;50% chance of a brief government shutdown&#8221; due to President Donald Trump&#8217;s declining poll ratings.<\/li>\n<li class=\"\">&#8220;We assume that any shutdown would be brief,&#8221; economist Alec Phillips wrote.<\/li>\n<li class=\"\">The economist also said the tax reform agenda is at risk if progress isn&#8217;t made by October.<\/li>\n<\/ul>\n<p>Tae Kim |\u00a0@firstadopter \u00a0| \u00a0Updated 3:48 PM ET Fri, 18 Aug 2017<br \/>\nCNBC<span style=\"font-size: 12px;\">\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<section class=\"cols2\">\n<div class=\"unit col1\">\n<article>\n<div class=\"story\">\n<div id=\"article_body\" class=\"content\">\n<div class=\"group-container \">\n<div class=\"inline-player\">\n<div id=\"player_1_104661389_1\" class=\"asset cnbcvideo imgasset desc_size600_400 featuredPromo theplatform-video__docked\" data-autoplay=\"1\" data-dockable=\"1\">\n<h5><span class=\"video-icon\"><a class=\"\" href=\"http:\/\/www.cnbc.com\/video\/2017\/08\/18\/goldman-there-is-a-50-percent-chance-of-a-government-shutdown.html\" data-videoid=\"3000646866\" data-videotype=\"\"><img loading=\"lazy\" decoding=\"async\" title=\"Goldman: There is a '50% chance' of a government shutdown\" src=\"http:\/\/fm.cnbc.com\/applications\/cnbc.com\/resources\/img\/editorial\/2017\/08\/18\/104661799-6ED5-BL-GovtShutdown-081817.600x400.jpg?v=1503087394\" alt=\"Goldman: There is a '50% chance' of a government shutdown\" width=\"600\" height=\"400\" \/><\/a><\/span>Goldman: There is a &#8216;50% chance&#8217; of a government shutdown<\/h5>\n<div class=\"cnbc-end cnbc-card\">\n<div class=\"content\">\n<div class=\"partitiondivsecond\">\n<div class=\"cnbc-end-thumb cnbc-end-carosel-img-holder\">\n<div class=\"video-overlay\"><\/div>\n<div id=\"timer_player_1_104661389_1\" class=\"timer pietimer fill\"><span style=\"font-size: 16px;\">President\u00a0<\/span><a style=\"font-size: 16px;\" href=\"http:\/\/www.cnbc.com\/donald-trump\/\">Donald Trump<\/a><span style=\"font-size: 16px;\">&#8216;s popularity is falling due to his controversial comments about the white supremacist rally in Charlottesville, Virginia.<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>That will have negative implications for the administration&#8217;s agenda this year, according to a Goldman Sachs economist.<\/p>\n<p>The firm cited Trump&#8217;s poll approval ratings, which fell to 37 percent on average this week versus 38 percent in July.<\/p>\n<p>&#8220;Presidential approval continues to decline, and is the lowest for any first-term president in his first year in office,&#8221; economist Alec Phillips wrote in a note to clients Friday. &#8220;Low approval ratings raise legislative risks. In the near term, we believe there is a 50% chance of a brief government shutdown, as the president seeks to solidify support among his base by embracing more controversial positions.&#8221;<\/p>\n<p>Two Trump advisory councils \u2014 the Strategic and Policy Forum and the Manufacturing Jobs Initiative \u2014 disbanded Wednesday after the president&#8217;s comments during a press conference Tuesday about the white supremacist rally in Charlottesville.<\/p>\n<p>Congress will have to take up two issues in September: raising the debt ceiling, which is the legislative limit on how much the government can borrow, and passing a spending bill. The U.S. Treasury has said Congress needs to raise the debt ceiling by Sept. 29. Failure to pass a spending bill could force a government shutdown.<\/p>\n<p>Phillips said the odds of a government shutdown are &#8220;fairly high&#8221; because Democratic support for the spending bill will be required, which will then force the Republicans in Congress to make some difficult concessions.<\/p>\n<p>&#8220;We assume that any shutdown would be brief,&#8221; he wrote. &#8220;Essentially, we see a very real chance of a shorter version of the 2013 shutdown.&#8221;<\/p>\n<p>The economist also believes tax reform is at risk if nothing is accomplished by October.<\/p>\n<p>&#8220;We continue to believe a tax cut is slightly more likely than not, but our conviction is low, as there has been little progress to date,&#8221; the economist wrote. &#8220;If tangible progress has not been made by October, after these fiscal deadlines have passed, tax legislation will start to look less likely, in our view.&#8221;<\/p>\n<p>___<br \/>\n<a href=\"http:\/\/www.cnbc.com\/2017\/08\/18\/goldman-there-is-a-50-percent-chance-of-a-government-shutdown.html\">http:\/\/www.cnbc.com\/2017\/08\/18\/goldman-there-is-a-50-percent-chance-of-a-government-shutdown.html<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Goldman: There is a \u201850% chance\u2019 of a government shutdown<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-82699","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=\/wp\/v2\/posts\/82699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=82699"}],"version-history":[{"count":0,"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=\/wp\/v2\/posts\/82699\/revisions"}],"wp:attachment":[{"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=82699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=82699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateofthenation2012.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=82699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}