Government Shutdown Cost The Economy $24 Billion… BIG DEAL! Time to put things in PERSPECTIVE!
By Bryce Covert
Standard & Poor’s calculates that the shutdown that has so far lasted just over two weeks has taken $24 billion out of the economy, shaving at least 0.6 percent off of GDP in the fourth quarter. The agency had originally predicted a 3 percent growth rate in GDP this quarter, noting that “we thought politicians would have learned from 2011 and taken steps to avoid things like a government shutdown and the possibility of a sovereign default.” But now recognizing that “our forecast didn’t hold,” it has reduced that estimate to 2 percent. While it notes that it believes the current deal to re-open the government and avoid a default will pass, it also warns that every day that the United States gets closer to defaulting on its debt by not raising the debt ceiling will take a toll on the economy.
Read the Rest @ The Government Shutdown Has Cost The Economy $24 Billion
$24,000,000? I’ve got a better number for you $16,964,416,000,000 !!! our current national debt, basically $17 trillion dollars, it was about $10.5 trillion when Obama came in and about $5.5 trillion 8 years before him when Bush started his 8 year term. Its really quite mind blowing to see how progressives are blindly following their dear leader and party who are sure to call for an elimination of the debt ceiling altogether before Obama leaves office so that they continue to pile on debt on top of debt with no debt ceiling to stop them until our country’s economy collapses, leaving EVERYONE to rely on the government’s handouts to survive, increasing their power and destroying your individual liberty to earn a living and raise your families the way you see fit. Obliterating the role of the individual. Do you know what that’s called? Totalitarianism, Marxism, Communism, Collectivism, Socialism, it goes by many names and supporters are blindly band-wagoning it into reality. That $17 TRILLION is just the tip of the iceberg too, it doesn’t even include unfunded liabilities, meaning promised money & services in the upcoming years that we haven’t yet borrowed money to pay for, yet. That number, over $80 trillion, and no, that’s not primarily because of military and defense spending, which is actually one of the only CONSTITUTIONAL spending duties of the Federal Government.
I can go on and on about the moronic support I’ve seen lately for praising politicians who create a health program “for our own good” yet demonize conservatives who sought to delay the individual mandate for a year, which FORCES individuals to buy insurance or pay a fine, JUST LIKE Obama delayed it for big businesses. These same conservatives also fought to make sure Congress and their staff did not get special treatment under the ACA, like having 73% of the costs of their insurance bill paid for by the taxpayers despite them earning more than the subsidy level for the rest of us where subsidies stop at $45k for an individual, about $65k for a couple and $95k for a family of 4. Those were the only 2 requests that the GOP had bargained down to BEFORE the shutdown and while democrats insisted on NO NEGOTIATIONS AT ALL. Uninformed Americans are being played by the politicians they are blindly following and the news media that misleads and covers for them, rewriting history as we live it. People need to WAKE UP and stop rooting in the country’s demise. STOP FOLLOWING BLINDLY. Think for YOURSELVES !!!
– Mr Blacksheep @ UnaffiliatedParty.org
Why $16 Trillion Only Hints at the True U.S. Debt
& from over a year ago, so add another trillion to that total
“It delays by one year the implementation of the individual mandate, and it includes language that would bar lawmakers, Congressional staffers, and administration staffers from receiving federal subsidies for health insurance under Obamacare.”
Even though BBC tries its hardest to spin marxism as positively as possible, by the end, even they can’t hide the truth about its unworkable utopian realities.
How have past experiments in marxism eventually evolved? here’s a hint…