As the government shutdown drags on and the deadline to raise the debt ceiling grows precipitously closer, uncertainty is once again standing in the pathway to economic growth.
Today, in a letter to the President and House and Senate leadership, NAM president and CEO Jay Timmons laid out manufacturers’ concerns and urged our leaders to push past the partisanship that has defined Washington in recent years to “put the nation’s best interests first by addressing the debt limit.”
Timmons made special note that failure to meet the United States financial obligations would “seriously disrupt our fragile economy and have a ripple effect throughout the world.”
Make no mistake about it – the current partisan environment is frustrating to us all. However, the fallout for letting these differences push our nation into default on our debt will be felt for years and every sector of our economy will suffer the consequences.
Manufacturers are hopeful that the President and Congress will find a way to do what is necessary to prevent such an economic catastrophe and the NAM will continue to urge policymakers to arrive at a solution as quickly as possible.