US GOVERNMENT SHUTDOWN COST $24 BILLION

Oct 17, 2013

By Andy Johnson

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It’s back to business as usual in the United States today. The US congress passed and just before midnight President Obamba signed into law, an agreement to end the partial government shutdown and avoid a default on the country’s debt. However the shutdown has not been without costs. Standard & Poor’s estimates the shutdown has taken $24-billion out of the US economy. Furloughed federal employees are expected to return to work and they’ll be paid for the time they were sidelined. Despite the agreement, the battle isn’t over. The measure restores funding for the US government through January 15th and extends the nation’s borrowing authority through February 7th.

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