The debt ceiling debacle has just cost U.S. taxpayers more than $1.7 billion.And here I thought that the Republicans were concerned about the deficit.
That's the amount of additional interest the government had to pay investors Monday to sell Treasury bills that finance its operations.
To be precise, the extra cost is $1,721,250,000 more in interest payments than the government would have needed to pay investors just two weeks ago, when they were willing to accept far lower rates before the debt ceiling became a crisis.
Monday, August 1, 2011
The debt-ceiling debacle has already cost us $1.7 billion