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Storm clouds hang over Capitol Hill in Washington, Friday, Sept. 27, 2013. There have been 17 government shutdowns since 1976
Storm clouds hang over Capitol Hill in Washington, Friday, Sept. 27, 2013. There have been 17 government shutdowns since 1976, ranging in length from one to 21 days. None have caused a market meltdown. The average decline in the Standard & Poor?s 500 index during a shutdown lasting 10 days or more is about 2.5 percent. For shutdowns lasting five days or fewer, the average decline is 1.4 percent. (AP Photo/J. Scott Applewhite)

The Republicans caved and agreed to restore the government and extend the debt ceiling for a number of good reasons. The Democrats and the president held firm, voters were angry with them, and Wall Street was worried that if America defaulted on its debt the world economy would collapse, as it did in 2008.

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