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

Government shutdown cost economy $24 Billion

Posted: Updated:

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.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Latest in The Adam Sanchez Case

    Latest in The Adam Sanchez Case

    The latest in the story of fallen Cascade County Sheriff's Deputy Joe Dunn who lost his life this past Thursday.
    The latest in the story of fallen Cascade County Sheriff's Deputy Joe Dunn who lost his life this past Thursday.
  • Yellowstone Sees Two Deaths in Past Week

    Yellowstone Sees Two Deaths in Past Week

    Tuesday, August 19 2014 12:07 PM EDT2014-08-19 16:07:32 GMT
    Yellowstone National ParkYellowstone National Park
    Authorities identify the young girl, who died Sunday morning after falling into the Grand Canyon in Yellowstone National Park, as eight-year-old Zahra Allahyari.
    Authorities identify the young girl, who died Sunday morning after falling into the Grand Canyon in Yellowstone National Park, as eight-year-old Zahra Allahyari.
  • Local Organizations host Poker Run to support Fallen Deputy

    Local Organizations host Poker Run to support Fallen Deputy

    Kickstands will go up on Saturday as the Masonic Motorcycle club joins Set Free Ministries for a Poker Run that will benefit the family of Fallen Cascade County Deputy Joe Dunn who was killed last week in the line of duty.
    Kickstands will go up on Saturday as the Masonic Motorcycle club joins Set Free Ministries for a Poker Run that will benefit the family of Fallen Cascade County Deputy Joe Dunn who was killed last week in the line of duty.
  • Local Organizations host Poker Run to support Fallen Deputy

    Local Organizations host Poker Run to support Fallen Deputy

    Kickstands will go up on Saturday as the Masonic Motorcycle club joins Set Free Ministries for a Poker Run that will benefit the family of Fallen Cascade County Deputy Joe Dunn who was killed last week in the line of duty.
    Kickstands will go up on Saturday as the Masonic Motorcycle club joins Set Free Ministries for a Poker Run that will benefit the family of Fallen Cascade County Deputy Joe Dunn who was killed last week in the line of duty.
  • Gov. Bullock Tours Anderson Steel

    Gov. Bullock Tours Anderson Steel

    Governor Steve Bullock was in Great Falls this morning to promote the Main Street Montana Project and to show its purpose.
    Governor Steve Bullock was in Great Falls this morning to promote the Main Street Montana Project and to show its purpose.
  • Family of Fallen deputy to receive over $20,000

    Family of Fallen deputy to receive over $20,000

    There,s been a community out pour of support for fallen Cascade County Deputy Joe Dunn and his family. Flags and flowers fill marker 77 on highway 89 where the deputy was killed in the line of duty. Cory Smith, CEO of 221 industries was compelled to create a GoFund Me page for the family.
    There,s been a community out pour of support for fallen Cascade County Deputy Joe Dunn and his family. Flags and flowers fill marker 77 on highway 89 where the deputy was killed in the line of duty. Cory Smith, CEO of 221 industries was compelled to create a GoFund Me page for the family.
  • A New Approach to Wildfire Protection

    A New Approach to Wildfire Protection

    In moments of disaster, things can be hectic and life seems to be turned upside down. That's why the red cross launched a new app to provide aide during wildfires.
    In moments of disaster, things can be hectic and life seems to be turned upside down. That's why the red cross launched a new app to provide aide during wildfires.
Powered by WorldNow

Sports

  • Sports
  • Community

  • Community
  • Powered by WorldNow
    All content © Copyright 2000 - 2014 WorldNow and Max Media. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.