Topic - Christian R. Grose

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    Study: Debt-limit votes colored by personal bottom lines

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Quotations
  • "Clearly, the value of investments and exposure to the market made legislators more likely to support the debt limit," Mr. Grose said. "It appears that financial self-interest and the hope of preserving one's equity holdings, along with party constituency and ideology, played a role in the debt limit vote."

    Study: Debt-limit votes colored by personal bottom lines →

  • "The implication of these results is that fear of personal financial loss through a stock market crash was a factor for many members who voted to increase the debt limit," said Mr. Grose in his 37-page paper, "Risk and Roll Calls: How Legislators' Personal Finances Shape Congressional Decisions," which was posted Feb. 18 on the Social Science Research Network.

    Study: Debt-limit votes colored by personal bottom lines →

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