Oct 22, 2013 | by Franck Cushner, CFP®
According to Standard & Poor’s latest research, an estimated $24 billion was lost from the U.S. Economy over the 16-day Government hiatus. As per TIME, some of the estimated economic costs of the Shut Down are as followed:
The Shut Down also stalled small business loans, and furloughed government workers. Although most government workers will receive their lost pay, government contracts will most likely take a loss. Under the current stipulations of the agreement to re-open the government, government workers are only guaranteed pay through January 15, 2014. This will lead to forced savings by the workers, and will potentially lead to a decline in the near future’s GDP growth.
This leads to one of the bigger issues that came of the shut down; the concern about the future of the economy with the raised debt ceiling, and projected decline in the GDP growth of .6% from 3% to 2.4%.
460 Park Ave, 21st Floor, New York, NY 10022
Ph. (212) 489-1800
Ensemble Financial © 2019
All Securities and Advisory Services provided under the name Ensemble Financial, Inc. are offered through Titleist Asset Management, Ltd. ("TAM"), a Registered Broker/Dealer & Registered Investment Advisor and member FINRA & SIPC. Customers working with Ensemble Financial, Inc. will be dealing solely through TAM with respect to their investment, brokerage and securities transactions. TAM does not offer or provide legal or tax advice. Please consult your attorney and/or tax advisor for such services. Member FINRA and SIPC.