Business Leaders: Government Shutdown Would Cripple Economy

Wednesday, 30 Mar 2011 12:46 PM

By Dan Weil

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A government shutdown would do serious damage to the economy, business leaders say. Their comments came in a press call for the Business Roundtable’s first-quarter CEO survey, The Hill reports.

The survey predicted rises in sales, hiring, and business growth. But a government shutdown would jeopardize that growth, said Ivan Seidenberg, the business group’s chairman and CEO of Verizon Communications.

A shutdown would lead to everything from postponement of government contracts to supply chain disruptions, Seidenberg said. Companies could experience difficulties obtaining government licenses, he pointed out.

“I don’t think any of the CEOs would welcome a government shutdown,” he said. The survey results would “need to be cast aside” in case of a shutdown.

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