Politic365

 
 


Culture

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.




 
 

 
7432022562_3733c11c35_k

Supreme Court is allowing Texas to use strict voter ID law in Nov. election

On Saturday, the Supreme Court gave Texas the approval to move forward with implementing a strict voter identification law in the upcoming midterm election. Adam Liptak for The New York Times wrote: “The law, enacted in 2...
by Adriana Maestas
0

 
 
mayor1nyc

Noerdlinger Obsession Verifies NY Reporters Make Way Under $170,000

“It’s none of your f—ing business.” — New York City Mayor Ed Koch.  If you want to learn every detail of every parking ticket or unpaid debt of the Chief of Staff of the wife of the Mayor of New York and her boy...
by Lauren Victoria Burke
1

 
 
young-black-woman-texting

Rising Wireless Taxes Could Jeopardize Mobile Use

Economist Scott Mackey, in conjunction with the Tax Foundation, an independent tax policy research organization, recently released Wireless Taxation in the United States 2014. On average, each month when people pay their wirele...
by Kristal High
1

 

Advertisement
 
leeTerry

Republicans Release Willie Horton Type Ad to Help Rep. Lee Terry Get Elected

Breaking News: Republicans release race-baiting Willie Horton style ad less than three weeks before election day.  Bet you could have never guessed that would happen.  Even though the headline at The Hill reads “NRCC re...
by Lauren Victoria Burke
0

 
 
kasich6

Black Paper in Ohio Endorses Republican for Governor

  OHIO. The Call & Post, a historic Black newspaper established in Cleveland in 1928, endorsed Republican John Kasich for Governor over the Democrat in the race.  Instead of just rubber stamping their endorsement, l...
by Lauren Victoria Burke
1

 




One Comment


  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.



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>