The Government Just Reopened, Here’s How Much The Shutdown Actually Cost
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Ok, technically it’s not over yet, but the politicians finally voted in favor of passing a funding bill so the government could reopen in days (hopefully). That’s great because I’ve got an insurrection at the Capitol booked for next Tuesday, and it’s going to be ruined if they don’t let us in.
But the real question that everyone’s asking is how much has this shutdown cost?
Well, it now holds the record for the longest recorded government shutdown since records began. Not since the time of the dinosaurs has the American country gone longer without a government.
1.4 million federal workers are currently without pay, so actually the government’s saved a bunch there. But even with that saving, loans are delayed, planes are grounded and I’ve got to reschedule my insurrection, all adding up to massive costs.
It’s estimated that every week of a shutdown knocks about 0.1 to 0.2 points off economic growth. That translates into about $15bn a week. Now considering it’s been about sex weeks, hold on let me just do some quick math here…
…computing…
…computing…
OK, so the results are in and my computers are telling me that so far the shutdown has therefore cost about $90 billion dollars.
Wow, that’s a lot of money. Well, it’s a lot to me. Obviously, that’s not much if you’re Elon Musk, but that seems like a lot of money to me.
Government? More Like ‘Shit’
Now I know government shutdowns are becoming a bit of a political norm nowadays, this is the 11th since 1980 (six of those under Trump’s watch), but things weren’t always this way. It began in 1980 with a specific interpretation of an 1884 spending law. From the 80s onward suddenly all government spending needed Congressional approval or it wouldn’t happen.
No other country does this by the way. If the government can’t agree on spending bills, that doesn’t mean planes start dropping out the sky, that would be insane, what an insane way to behave.
So if the law was changed once, why can’t it be changed again? Well, because it’s become a political tool. The pay of millions and the smooth running of the country is a hostage that political parties can take then blame each other for not cleaning up the mess.
I guess until we have political peace and love and hand-holding, we’re going to see a lot more governments a-shuting a-down.
Now bare in mind that
More on this story: Gold At New ATH Ahead Of Government Shutdown
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