GOP Government Shutdown Has Cost $1.6 Billion So Far

Posted in the Minneapolis Forum

Comments

Showing posts 1 - 6 of6
digger

Jacksonville, FL

|
Report Abuse
|
Judge it!
|
#1
Oct 8, 2013
 

Judged:

17

17

15

The government shutdown that started last Tuesday has already cost $1.6 billion in lost economic output, according to market research firm IHS Inc.

Should the shutdown last through October 9, the total will come to $2 billion. That’s equivalent to the cost so far of the “biblical” flooding that has ravaged Colorado. If it lasts three to four weeks, Moody’s has estimated that the total cost to the economy could come to $55 billion. The shutdown could reduce economic output by 1.4 percent.
The daily average cost of the shutdown has dropped to $160 million, from $300 million at the start of the crisis.

The total cost can be broken down into a variety of factors. Federal spending was expected to be reduced by about $8 billion, which could save 0.8 percent off of GDP. The original furlough of 800,000 government workers was sucking about $1 billion a week from the economy in lost pay, although fewer workers remain furloughed today. The government stands to lose out on billions in tax revenue, and all told the shutdown is expected to increase the deficit. There are many other factors that could impact the economy but haven’t been tallied up, such as government contracts put on hold, loans that aren’t going out from the Small Business Administration, and permits that won’t be granted.

Other important programs that support the neediest, like the nutrition program for low-income mothers and infants and the job training programs that are part of food stamps, aren’t getting any federal money in the shutdown.
goose

Chicago, IL

|
Report Abuse
|
Judge it!
|
#4
Oct 11, 2013
 

Judged:

6

6

6

Libs Lie wrote:
It is Barry Obombya and Harry Reid's shut down.
The American people know better - look at ANY poll out there.
LIbEralS

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#6
Oct 12, 2013
 

Judged:

5

5

5

The total cost of the shutdown is going to be pretty small compare to what Obamacare is going to cost us.

Since: Jul 10

Minneapolis, MN

|
Report Abuse
|
Judge it!
|
#7
Oct 12, 2013
 

Judged:

3

3

3

This is NOT the first time our govt has shut down. Nor will it be the last one.
.
At least SEVENTEEN previous times our Federal govt has shut down since the mid 1970s. This makes this one the EIGHTEENTH time.
.
The only reason this one is getting the hoopla. Is one has to wonder how many 'stuffed' desk jobs aka make work jobs were created for governmental employees. In order to get folks to have a job just to bring home a check..
.
At least one of these do have charts on when the various shutdowns have occurred.
.
http://firstread.nbcnews.com/_news/2011/04/08... In official parlance, they’re called “spending gaps,” a term the experts prefer to “government shutdown,” because the government doesn’t fully shut down. They’ve been imposed 17 times since 1976, the year Congress began its revised budgeting process.
.
http://blogs.lse.ac.uk/usappblog/2013/10/09/p... A deep political divide in Congress has triggered the 18th government shutdown in US history. Is this one any different? To answer this, we need to be able to measure how “bad” this shutdown is relative to previous ones. One way to quantify the magnitude of the effects of a shutdown is to analyze the size and evolution of political polarization.
.
As for who to blame. I would have to say BOTH parties are to blame. Not just one.

“We have 545 traitors.”

Since: May 11

Parts Unknown

|
Report Abuse
|
Judge it!
|
#8
Oct 13, 2013
 

Judged:

3

3

3

Isn't anyone else alarmed at the fact that our economy is so reliant on our nanny government that 800,000 people (around 16,000 per state) not working for a couple of weeks costs us billions of dollars?!

This country is DOOMED.

Since: Sep 11

Rogers, MN

|
Report Abuse
|
Judge it!
|
#12
Oct 15, 2013
 

Judged:

2

2

2

Blern wrote:
Isn't anyone else alarmed at the fact that our economy is so reliant on our nanny government that 800,000 people (around 16,000 per state) not working for a couple of weeks costs us billions of dollars?!
This country is DOOMED.
Welcome to the soon to be United States of Huxley and Orwell.

Tell me when this thread is updated: (Registration is not required)

Add to my Tracker Send me an email

Showing posts 1 - 6 of6
Type in your comments below
Name
(appears on your post)
Comments
Characters left: 4000
Type the numbers you see in the image on the right:

Please note by clicking on "Post Comment" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

14 Users are viewing the Minneapolis Forum right now

Search the Minneapolis Forum:
Topic Updated Last By Comments
Fridley: Woman survives stabbing by boyfriend, ... 3 min Bellweather 2
Global cooling 'undeniable,' scientists say 15 min Bellweather 11
Get away from the cities and all the crime 21 min Captain Yesterday 8
It HAPPENED Murder in Muderapolis during All star 30 min Captain Yesterday 1
Global warming 'undeniable,' scientists say (Jul '10) 42 min Mothra 31,856
North Mpls. Facebook page gives community place... 4 hr Ball Fan 2
Dawn of the Planet of the Apes 4 hr Ball Fan 2
•••
•••
•••
•••

Minneapolis Jobs

•••
Enter and win $5000
•••
•••

Minneapolis People Search

Addresses and phone numbers for FREE

•••

Minneapolis News, Events & Info

Click for news, events and info in Minneapolis
•••

Personal Finance

Mortgages [ See current mortgage rates ]
•••