10:37am October 13, 2013

#GOPShutdown: The Cost of the Tea Party Hating the President Hits $4 Billion

Speaker John Boehner holds his weekly press briefing on Capitol Hill in Washington D.C.

The government shutdown continues to cost the American economy $300 million a year. But House Republicans, who shutdown teh government on October 1 after an effort to defund the health care law failed, continue to ignore the economic consequences.

“While that is a small fraction of the country’s $15.7 trillion economy, the daily impact of a shutdown is likely to accelerate if it continues as it depresses confidence and spending by businesses and consumers,” reported Bloomberg on October 1.

After Republican approval rattings plunged this week, many thought there would be a deal on the debt ceiling and the shutdown passed this week.  It didn’t happen.  Now there are rumors that Senate leaders Harry Reid and Mitch McConnell will be forced to come up with something.  But with the default staring everyone down on Thursday, time is short.  With each day that passes the American economy continues to lose $300 million.  

About the Author

Politic365 Staff
The staff of Politic365.



H.R. 3713: Urban League, FAMM Voice Concerns on #JusticeReform Bills

In a striking statement that’s a departure from the views of other major civil rights groups, National Urban League President Marc Morial expressed concerns with the two leading sentencing reform bills in Congress: S. 212...
by Lauren Victoria Burke


Rep. John Conyers Supports Criminal Intent Bill, Catches Hell From Left

Other Democrats have been criticized for it, but they weren’t in the position of actually passing legislation on the issue. As of yesterday, the most senior Democrat on the House Judiciary Committee is.  Rep. John Conyer...
by Lauren Victoria Burke


Nov. 18: Goodlatte-Conyers Bill with New Heroin Penalty Heads to Cmte.

Legislation authored by House Judiciary Chairman Bob Goodlatte (R-VA) and ranking Democrat John Conyers (D-MI) that includes an expanded penalty for heroin containing fentanyl, will be considered by the full House Judiciary Co...
by Lauren Victoria Burke



Hollande Plans Response to Worst Attack in Paris Since WWII

French President Francois Hollande is preparing a response to the attacks on his country. “This is an act of war” Hollande said regarding the near-simultaneous attacks in Paris that killed nearly 130 people and lef...
by Lauren Victoria Burke


Someone Ask Bobby Jindal to Explain Glenn Ford and Albert Woodfox

“What’s your biggest weakness,” was the first debate question for 8 Republican candidates for President one night.  Someone could have answered for Louisiana’s Governor Bobby Jindal, because the answer ...
by Lauren Victoria Burke



  1. Here’s the latest estimate.

    WASHINGTON — The government shutdown has taken at least $24 billion out of the United States economy, the financial ratings agency Standard & Poor’s said Wednesday.

    The firm said the shutdown caused it to cut its forecast of gross domestic product growth in the fourth quarter by at least 0.6 percentage point. The agency lowered its estimate for GDP growth to close to 2 percent from 3 percent.

  2. Nice answers in return of this difficulty with firm arguments and telling all regarding that.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>