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government shutdown 2013

  • Featured Story

    The Full Cost of "Government Shutdown 2015"

    government shutdown 2015

    By , Associate Editor, Money Morning • @TaraKateClarke -

    Government shutdown 2015: The full cost of a government shutdown that lasted 16 days in October 2013 was staggering - it delivered a $24 billion blow to the U.S. economy and taxpayers.

    Now, exactly two years later, we're about to do it all over again.

    "The way I see it, wingnuts on both sides of the aisle are playing chicken with an $18 trillion economy and world markets once again," Money Morning Chief Investment Strategist Keith Fitz-Gerald told his Total Wealth research service readers on Sept. 18.

    Here are a few costs of "Government Shutdown 2015" we can anticipate...

Article Index

The Full Cost of "Government Shutdown 2015"

By , Associate Editor, Money Morning • @TaraKateClarke -

government shutdown 2015

Government shutdown 2015: The full cost of a government shutdown that lasted 16 days in October 2013 was staggering - it delivered a $24 billion blow to the U.S. economy and taxpayers.

Now, exactly two years later, we're about to do it all over again.

"The way I see it, wingnuts on both sides of the aisle are playing chicken with an $18 trillion economy and world markets once again," Money Morning Chief Investment Strategist Keith Fitz-Gerald told his Total Wealth research service readers on Sept. 18.

Here are a few costs of "Government Shutdown 2015" we can anticipate...

The Full Cost of the Government Shutdown

By , Contributing Writer, Money Morning -

The government shutdown may have ended weeks ago, but its impact is still rippling through the U.S. economy. Standard & Poor's estimates the shutdown cost about $1.5 billion a day - money the sputtering U.S economy could ill-afford to do without. But it's worse than that. Here's the full impact of the shutdown -

and why it should make you hopping mad...

Four Things the Debt Ceiling Deal Doesn't Fix

By , Executive Producer, Money Morning -

Everyone in the Capitol is patting themselves on the back and glad-handing for the news media, rattling on about “fighting the good fight.” Sure, we’ve avoided default… for just 112 more days. Most of us won’t even pay four phone bills by the time the “crisis” gets brewing again. As ridiculous as that fact is, it gets worse. You see, the “Great Band-Aid Treaty” doesn’t actually do anything to address the fundamental challenges facing our economy right now.

Here are the four biggest issues that Congress ducked out on...

The Most Important Numbers to Know Today 

By , Money Morning -

By themselves, they don't seem to mean much: 630,000, 700%, $3.65 million, 19. But once you see them in context, you'll realize why these numbers matter. Besides, where else can you read about frontier markets, Bitcoins, and a phantom Twitter stock

all in one place?

10 Numbers You Need to Know Today as Shutdown 2013 Continues

By , Money Morning -

810,000 federal workers, give or take a few, were furloughed this week as Shutdown 2013 began. Those employees had to report to work to "prepare" for a shutdown, in many cases simply reporting, signing a form acknowledging the furlough, and leaving again. The "average" American lives 16 miles from wherever they work, driving 32 miles round trip in a car that averages 24.6 miles per gallon. This trip uses 1.3 gallons of gas, at an average price of $3.39 per gallon, which comes out to $4.41 per trip. Going on national averages for fuel economy, commuting distance, and gasoline, these 810,000 furloughed federal employees collectively shelled out at least $3,572,100 on gas for a short, short workday.

To continue reading click here...

Stock Market News Today: Reactions to Government Shutdown

By , Money Morning -

Biggest stock market news today, before the opening bell: The government shutdown that kicked in yesterday after lawmakers could not agree on a federal budget last night has done little in the way of dampening the stock market. With politicians at odds now, investors are anticipating a faster resolution to another issue -- the debt ceiling issues that will come to the foreground in about two weeks.

While some 800,000 government employees are now furloughed with another million asked to work without pay, investors seem to believe this closure will be short-lived. The shutdown is the first in the U.S. in since 1995.

To continue reading, please click here...

What's Closed in a Government Shutdown

By , Contributing Writer, Money Morning -

Today has surprised some people who went about their daily business without knowing what's closed in a government shutdown.

Another surprise: Markets didn't plummet. There are a few reasons for that:

  • The government isn't entirely closed.
  • A closing isn't as uncommon as it is being made out to be. Government shutdowns have occurred 18 times since 1976.
  • Negotiations are still being talked about behind the scenes.
  • Markets are really more concerned about the debt ceiling deadline (which is now Oct. 17).

And assuming a deal is reached sometime within the next few weeks, the impact on fourth-quarter economic growth from this U.S. government shutdown is expected to be relatively minimal. Any loss is expected to be easily made up in Q1 of 2014.

To continue reading, please click here...

Why the Government Shutdown Is Good for Investors

By , Associate Editor, Money Morning • @DavidGZeiler -

As of midnight Monday, the government shutdown is upon us. But this is only the first of several budget-battle flashpoints coming over the next few months that will thrash the markets. And despite the angst it will bring, every Washington screwup has a silver lining for investors who know how to play it...

Read more...