In it, but not of it. TPM DC

CHART: How The Debt Limit Fight Hurt The Economy, Delayed Recovery


That's a year's worth of data. Taken in the context of the collapse of the credit bubble, it's a pretty small blip (see the right side of image below). But it's a pretty big hit to a fragile recovery. It was only by November that total consumer credit returned to where it had been before the standoff on Capitol Hill. Look at the graph and you'll see that the growth we just experienced could have come in July and August in the absence of that fight.

Charts by Clayton Ashley.

About The Author


Brian Beutler is TPM's senior congressional reporter. Since 2009, he's led coverage of health care reform, Wall Street reform, taxes, the GOP budget, the government shutdown fight and the debt limit fight. He can be reached at