KUSA - Stocks are dropping for a third straight day on shutdown worries and on news from the Treasury Department.
U.S. Treasury Secretary Jack Lew is warning that a failure to raise the debt ceiling could lead to a financial crisis and recession that would be even more damaging than the financial crisis of 2008.
The report that Lew is quoted from was leaked to Politico, and markets reacted.
Dr. Bluford Putnam, Managing Director and Chief Economist of the CME Group, joined us from the JPMorgan Center University of Colorado Denver Commodities Center.
Putnam is lowering his outlook for economic growth in the fourth quarter and he's worried that next year could be worse.
(KUSA-TV © 2013 Multimedia Holdings Corporation)