September 30, 2013


Shutdown Will Cost a Lot of Money

Carrie Dann: "If past is prologue, a looming government shutdown could actually cost U.S. taxpayers money.  A lot of money. According to the Office of Management and Budget, the two shutdowns in 1995 and 1996 cost taxpayers $1.4 billion combined. Adjust for inflation and you've got $2 billion in today's dollars. Those two shutdowns lasted a total of 27 days, but there's no telling how long the government could be shuttered this time around if Congress fails to act by Monday at midnight. Even shorter shutdowns have proven successful at draining government funds."

Washington Post: "A shutdown of a few days might do little damage, but economists, lawmakers and analysts are increasingly bracing for a shutdown that could last a week or more, given the distance between Republicans and Democrats. Such an outcome would suck money out of the economy and spread anxiety among consumers and businesses in a way that is likely to hold back economic activity."










POLITICAL WIRE PODCAST

Political Wire Podcast Engaging conversations about elections and the political issues of the day. Subscribe via iTunes or RSS to get episodes automatically downloaded.


FREE NEWSLETTER




PARTNER STORIES








TRENDING VIDEO


FOLLOW US