Government shutdown: What's the cost?
The Office of Management and Budget estimated that two government shutdowns in 1995 and 1996, totaling 27 days, cost the federal government $1.4 billion.
|Scooped by Katherine Henning|
The government shutdown may cost the federal government over 2 billion dollars. The old government shutdowns were estimated to cost 1.4 billion dollars in the 27 days it was shut down during the years 1995-1996. In today's economy, the money is now worth over 2 billion dollars. The last government shutdowns were during the 90's. The shutdowns cost more than just billions of dollars, but also workers' morale. However, a short term shutdown won't cause too much economic damage.The federal government spends approximately 3 billion dollars daily, and if there is going to be a disruption like the ones in the 90's, it would wind up costing the same as keeping the government running for a day. Some people think that it is just a "hiccup shutdown", and will be resolved soon. However, others disagree, and believe it will last for as long as the 90s'. The people who work for the federal government are thoroughly frustrated with it. Some of the workers even have to go as far as going to work, which is mandatory, but they will not receive a paycheck at the end of their payrolls. (Until the government is back to normal.) Contract spending is an area that is going to be extremely affected by the shutdown. "People are paying for stuff that is not getting done," there is also people who are not working, who contractors are worried about them running amok.
My personal opinion on this article is the same as when I turn on the news. I just get irritated at how both parties are so childish they can't even work together. And this article proves that fact. The government is literally spending way too much money then they actually have. The article is pretty insightful on the facts that this has happened before and probably will again. And I feel sorry for all of the people that have to go to work and not get payed just because it's a federal job. So much for equality in America.