This week we will begin to find out how much the fiscal crisis in Washington cost the economy and what the prospects are for a rerun in three months.
The delayed September jobs report, out Tuesday morning, will be too old to reflect any crisis impact but will at least give us an idea where the economy stood before the shutdown and debt limit fight. It's expected to show a gain of 180,000 jobs and no change to the 7.3 percent unemployment rate, in line with the recent trend.
The more telling data point comes Friday in the University of Michigan consumer sentiment index, which is expected to drop several points from its last reading of 75.2, which was already a nine-month low.
The Michigan data will follow other reports showing a sharp decline in confidence, including one earlier this month from Gallup showing the biggest one week drop since the collapse of Lehman Brothers in 2008.
The biggest question now is how quickly the impact of the crisis will fade as a drag on the economy.
The good news is that stocks mostly shrugged the whole thing off, correctly expecting an 11th hour deal. And the real economy may do exactly the same thing, with many analysts expecting the indirect impact to fade fairly quickly. The direct impact of the shutdown on federal government spending should also be made up in the fourth quarter with repaid salaries and completed contracts.
So the only way Washington re-emerges as a big drag on the economy is if we do the whole thing again in January, when government funding runs out, and February, when the debt ceiling must be lifted again.
(Read more: Don't expect another debt limit fight)