Monday, August 1, 2011

The debt-ceiling debacle has already cost us $1.7 billion

CNN/Money reports
The debt ceiling debacle has just cost U.S. taxpayers more than $1.7 billion.

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.
And here I thought that the Republicans were concerned about the deficit.

1 comment:

tarheelred said...

And here I thought that the Republicans were concerned about the deficit.

The House of Representative passed at least two bills. It was the Democrats in the Senate who did nothing.

In fact, where is the last Democratic budget bill?