As I said last week, there was absolutly ZERO chance of this Repulican extortion attempt working..........ZERO!
But that did not stop the selfish consevatives from fucking the country for what they hoped would be short term politica gain. In the end, they didn't get political gain, only a huge loss................
The stupid party strikes again!
Government shutdown: Cost could be up to $24 billion
If the goal of the government shutdown was to help taxpayers by curbing government spending and boosting the economy, supporters of the idea got it all wrong.
As the dust settles, economists are adding up the collateral damage. The results aren’t pretty:
- The loss of government services during the three-week shutdown will take a roughly $3.1 billion bite out of gross domestic product, according to economists at IHS Global Insight. That represents just the hit from lost government services.
- The shutdown also forced non-government business losses, temporary layoffs and other interruptions in business spending. The full extent of the damage won’t be known for some time. Economists at Standard & Poor’s estimate the total cost at about $24 billion, or a 0.6 percent GDP haircut. Others guess it's about half that. Either way, it's a heavy price to pay.
- Then there's the loss in U.S. economic prestige, which is also hard to gauge, but keeps getting whittled away every time Washington goes into gridlock over spending.
“The exact impact on the rest of the economy will be hard to measure until delayed economic data are released,” according to the research note by IHS economists Doug Handler and Paul Edelstein.
But they estimate the economy will grow at just a 1.6 percent annual rate in the last three months of the year – less than the 2.2 percent they had expected if the government had stayed open.
Those tens of billions of dollars of lost economic activity (along with a shortfall in government taxes on that activity) were obliterated by a political standoff that produced little more than a pact to try again to reach a long-term agreement in three months.