The GOP cost US over 24 billion dollars

[UCmeNdc]

The Republicans keep saying, "Leave the sequester in place and cut all those budgets." They keep trying to cut funding for the things that would help us build a future. But they are ready to flush away $24 billion on a political stunt.

The two-week shutdown has trimmed about 0.3 percentage point from fourth-quarter growth, or about $12 billion, the forecasting firm Macroeconomic Advisers, based in St. Louis, recently estimated. Standard & Poor’s is more pessimistic, estimating that the shutdown will cut about 0.6 percent off inflation-adjusted gross domestic product, equivalent to $24 billion. Most analysts are predicting that growth will remain subpar, at an annual pace of 2 percent or less.

http://www.nytimes.com/2013/10/17/business/economy/high-cost-to-the-economy-from-the-fiscal-impasse.html?nl=todaysheadlines&emc=edit_th_20131017

[lapfog_1]

1. Could be a lot more than that

if people currently holding US bonds decide not to repurchase them when they mature (roll-overs) because of the near default.

In order to re-finance that debt, the US may be forced to raise interest rates on US Savings bonds... and that could cost us 100s of billions over the next decade or two.

We simply won't know for some time.

[annabanana]

2. Should be the lead story MSM-wide...

But it won't be.

The fiscal irresponsibility of this petulant republican tantrum was MASSIVE. Every American should be given repeated chances for this information jo sink in.

[Botany]

3. I read it was $31 billion

http://www.democraticunderground.com/10023860439

[Gore1FL]

4. All so Ted Cruz could raise a million or so for his future failed presidential campaign. n/t

[Arneoker]

5. Call it the Tea Tax

[underpants]

6. Oooh! Ouch!

[cer7711]

7. And Every Penny of that Should Be Recouped from the 1% via Taxation

Last edited Sat Oct 19, 2013, 12:21 AM - Edit history (1)

Create a special tax to recoup what was lost and title it appropriately: The "Tea-bagger F--ing Idiot Tax", perhaps; or the "I-Was-An-Economic-Vandal-&-Traitor-to-My-Country-Tax".

Let the American people know what you're doing and why, Congress, and forcibly extract the full measure of economic justice from these billionaire ass clowns.

Never happen, of course. Though it damn well should . . .

[FailureToCommunicate]

8. That's an awful lot of GDP dumped into the water

We'd like all of it back now!

[Sunlei]

11. even the original tea party tried to push blame for their crap on someone else (dressed as Indians)

[FailureToCommunicate]

12. Of course. And blame today is already shifting back to 'Congress' instead of just THESE crazies...

[IronLionZion]

9. uncertainty holds back hiring and investment too

companies choose to hang on to excess cash instead of doing something useful.

The Republicans are efficient like that. They deliberately want to damage the economy and blame it on Obama. Big bad Obama closed down your parks and memorials.

[Sunlei]

10. 24 billion & climbing as we can't pay a years wholesale prices for goods because of republicans.