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Economy Hurting From Shutdown, Sequestration Cuts07:15
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A sign closing the entrance is posted outside the Pennsylvania Avenue of the Treasury Department, Wednesday, Oct. 2, 2013, in Washington. (Carolyn Kaster/AP)
A sign closing the entrance is posted outside the Pennsylvania Avenue of the Treasury Department, Wednesday, Oct. 2, 2013, in Washington. (Carolyn Kaster/AP)

The effects of the government shutdown on the economy are cascading.

The government has already been operating with a smaller budget due to sequestration cuts last March, which are now starting to kick into effect.

Diane Swonk, chief economist with Mesirow Financial, says the shutdown is not only taking a toll on furloughed government workers, but Wall Street and the financial markets are also feeling the effects of the crisis.

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This segment aired on October 15, 2013.

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