Government insane shutdown fund

The economy may have gotten away with the economic catastrophe by raising debt and opening the government, but it didn’t hide the political debacle. The main question of the situation is how much the government shutdown will cost the economy?

According to an estimate from Standard & Poor’s, it will cost about $24 billion dollars. The financial services company said the shutdown, which ended with a deal late Wednesday night after 16 days, took $24 billion out of the U.S. economy, and reduced projected fourth-quarter GDP growth from 3 percent to 2.4 percent. The following are some of the economic costs:

About $3.1 billion in lost government services, according to the research firm HIS, $152 million per day in lost travel spending, according to the U.S. Travel Association, $76 million per day lost because of National Parks being shut down, according to the National Park Service, $217 million per day in lost federal and contractor wages in the Washington D.C. metropolitan area alone. Hundreds of thousands of federal workers bore the economic brunt of the shutdown. Federal workers will receive back-pay under the deal, but contractors will probably not get their lost wages. The stall in cash-flow could affect spending during the holiday shopping season. But small businesses also suffered from frozen government contracts and stalled business loans. Tourism suffered from closed national parks, and military families had to cope without childcare and other services.

Luckily, the government is beginning to figure this entire thing out. Across the country, the work and play of daily life, stalled for more than two weeks, resumed at federal offices, public parks, research projects and community programs. Museums opened their doors. Federal money for preschool programs started flowing again. Scientists at the South Pole began ramping up their work.

The government is now trying out how to solve the tragedy across America, for now they are enjoying the fact that businesses are able to make money again, “We had a lot of vandalism of infrastructure,” Bonnie Clarfield, a supervisory park ranger says. “People were frustrated, and they were taking it out on the rangers. We were doing our jobs, and they were taking it out on the messengers. I feel great today. No one’s been mad at me.”