Government shutdown cost economy $24 Billion - KFBB.com News, Sports and Weather

Government shutdown cost economy $24 Billion

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Yesterday Senate came up with a deal to re-open the government, pass it to the House, and to the desk of the president just in time to avoid a U.S. default, but now that it is all over many might be wondering how much exactly this government shutdown ended up costing.

Federal employees woke up this morning able to return to work after the 16 day government shutdown came to and end. President Obama signed the bill just in time to avert a U.S. default. This 16 day shutdown is over, but the country has taken at least a $24 billion hit along with it.

The financial ratings agency Standard and Poor's said on Wednesday that the shutdown has taken a minimum of $24 billion out of the economy equaling $1.5 billion each day of the shutdown, also taken at least %0.6 off annualized fourth quarter 2013 GDP growth.

Here is the breakdown of where some that money loss is coming from #3.1 billion in lost government agencies. $152 million per day in spending related to travel, with 450,000 American workers supported by travel were affected. National Parks welcome over 700,000 visitors a day which is estimated $76 million per day.

Here in Montana Glacier National Park re-opened this morning with the limited services that are available during mid October.

Now Standard and Poor's financial agency is actually saying that with this temporary agreement the U.S. economy could still worsen as many consumers might still be worried of a repeat of the government shutdown.

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