Today has surprised some people who went about their daily business without knowing what's closed in a government shutdown.
Another surprise: Markets didn't plummet. There are a few reasons for that:
- The government isn't entirely closed.
- A closing isn't as uncommon as it is being made out to be. Government shutdowns have occurred 18 times since 1976.
- Negotiations are still being talked about behind the scenes.
- Markets are really more concerned about the debt ceiling deadline (which is now Oct. 17).
And assuming a deal is reached sometime within the next few weeks, the impact on fourth-quarter economic growth from this U.S. government shutdown is expected to be relatively minimal. Any loss is expected to be easily made up in Q1 of 2014.