So the Bush tax cuts did not cost enough. The unnecessary wars did not cost enough. The financial collapse due to no regulation of the financial industry was not enough. No, now the GOP has taken to jamming up the gears like petulant babies, costing the country even more. The GOP should be sued by the American people for lost wages, lives and limbs. I thought the GOP was supposed to be the party of fiscal wisdom? "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 & Poorâs 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. Moreover, this latest budget impasse came after years of similar episodes, and the economic ramifications have accumulated over time, analysts say. A new report from Macroeconomic Advisers, prepared for the Peter G. Peterson Foundation, estimates the costs of the fiscal uncertainty of the last few years. Its model suggests that uncertainty since late 2009 has increased certain corporate borrowing costs by 0.38 percentage point; lowered economic growth over that period by 0.3 percent a year, costing at least $150 billion in lost output; and left this yearâs unemployment rate higher by 0.6 percentage point. That translates to 900,000 jobs lost." http://www.nytimes.com/2013/10/17/b...l=1&adxnnlx=1381979927-20P9bJk8kdCSAbJ/DhaIgg The GOP sucks.
lol, 12 billion dollars?!?! Obamacare is going to permanently syphon 200 billion dollars a year out of the economy, how many hundreds of thousands of jobs has it cost already?
no we are going to spend it all in wasteful government beaurecracies where there is no multiplier. btw based on your math where it supposedly cost the economy 12 billion how come it cost us more money when the government was shut down? Shouldnt that have been stimulative? Especially since all federal employees are getting paid even for hours they didnt work?
Come on, not ALL of it. Even now it's creating work for web programmers. ; ) A government shutdown during crowding out conditions might be stimulative, but that's not current conditions.
What are you talking about? Do you really think the people who didnt go to a government park, didnt decide to go to another park, or wont go back to the park now that its open? Do you really think they stashed it away and are not going to spend it? Plus it cost extra money to put barricades around national malls, and put up guards who were never there before. Given the fact that congress has already decided to give everyone all of their back pay, even though they didnt work the hours, in the mind of a keynesian that should be stimulative. The government spent more money to keep the parks closed then it would have normally that should be a huge stimulus package.
note... after the bush tax cuts revenues went up by 40% or more. and even the top 1% paid more. so fc... you do know the first thing about how systems work. and it was reid who shut down the govt.