Because we didn’t have enough economic woes? A report released Thursday shows the 16-day federal government shutdown has cost the U.S. economy between $2 billion and $6 billion in economic output. And that might be the conservative estimate.
The research, compiled by the Office of Management and Budget, also shows that 120,000 fewer private sector jobs were created in those two weeks, and fourth quarter real GDP has taken a .2 to .6 percent hit.
Another big cost: $2 billion in back pay to furloughed federal employees for time they weren’t able to work. Read more at The Huffington Post.
{Andy Heller-Matzav.com Newscenter}
As they say in Washington about sums of money they feel they don’t have to account for or throw around at a whim such as pork barrel legislation. Don’t you know? “It’s a drop in the bucket” . I think it’s a bucket we can all use a swig from
FACT: We have a national debt of $17 TRILLION and a budget deficit of $700 BILLION.
This another typical Huffington Post piece where they glorify government as the barometer of our economy.
Government does not create wealth; rather, government consumes it like a big Pac-Man. America is gravitating towards becoming a welfare state. “Stimulus” money is being used for the food stamp program.
Meanwhile, the private sector is languishing in a prolonged period of economic sluggishness with no end in sight. And Obama’s cronies (i.e. Unions, the Green Lobby, etc.)? They are living it up!