Government shutdown economic impact reaches far beyond politics. In this episode, host Tom Wheelwright sits down with tax policy expert John Diamond, senior director of the Center for Tax and Budget Policy, to explain what actually causes shutdowns and how they affect the economy.

Tom and John address a common problem: most people see a shutdown as a political event, but investors and business owners experience real financial consequences. Tax rules stall, government payments slow, and economic uncertainty spreads across markets and small businesses.

You will learn:

• What triggers a government shutdown and why it repeats
• How tax legislation and federal spending policy influence the economy
• The role of enhanced premium tax credits and major federal bills
• Why entrepreneurs and investors must track fiscal policy
• Potential tax system reforms and what they could mean for you

John explains how federal budget pressure builds over time and why policy decisions affect housing, hiring, and investment confidence. Tom connects these ideas to financial education, showing why understanding government finance is part of smart investing.

This topic matters now because policy decisions increasingly shape markets. Entrepreneurs and investors who understand fiscal policy position themselves early, manage risk, and identify opportunity while others remain uncertain.

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00:00 – Intro.
02:09 – Effects of Record Government Shutdown.
05:19 – Issues: What is Truly Driving the Shutdown?
11:14 – Outcome: What Happens Now.
14:09 – Air Traffic Control.
18:13 – Tax Impact: Budget & Inflation.
23:10 – Reform: The Rich Really ARE Getting Richer.
26:28 – Index Retirement Age.
28:49 – Advice for Business Owners.
31:25 – Closing Statements.

Looking for More on John Diamond?
Website: bakerinstitute.org

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DISCLAIMER: WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.