The 2023 Debt-ceiling Crisis Hurt the US Economy

Yes, the 2023 debt ceiling crisis did hurt the US economy.

• The crisis caused a great deal of uncertainty and volatility in the markets, which led to a decline in economic activity.
• The crisis also made it more difficult for businesses to borrow money, which further dampened economic growth.
• In addition, the crisis led to a decline in consumer confidence, which also hurt the economy.
• According to the Congressional Budget Office, the debt-ceiling crisis could have cost the US economy up to $1 trillion in lost output.
• The CBO also estimated that the crisis could have led to the loss of 1.2 million jobs.
• The shutdown led to government revenue losses and decreased economic activity.

The crisis also damaged the United States government's credibility and made it harder to borrow money in the future.