The crisis is over, but the damage is done.
Standard & Poor’s estimates that when you add the costs of the shutdown – lost wages, productivity, the ripple effects throughout the economy – the sixteen-day shutdown took about $24 billion from our economy.
That works out to a $1.5 billion price tag per day. And for what?
Tea Party Republicans in Congress held our economy hostage. While they failed to extort concessions on their radical demands, they succeeded in dealing our recovering economy an agonizing blow.
We cannot afford to wind up here again in January or February.
- US Govt shutdown hurts growth, cost economy $24 billion
- Assessing the cost of ‘unnecessary damage’
- S&P says shutdown has hurt US growth
- S&P: The Shutdown Took $24 Billion Out Of The US Economy
- Here’s How Much The Government Shutdown Cost The Economy
- Government Shutdown Cost? $24 Billion, Says Standard & Poors
- Andy Ostroy: The GOP Shutdown: One of the Worst Blunders in Political History
- Winners and Losers of the Government Shutdown Showdown