What ‘Fiscal Conservatism’? The Cost of the Republican Shutdown

Share article:

With the 81 – 18 vote in the U.S. Senate and 285 – 144 tally in the U.S. House, Congress averted a worldwide economic disaster this week by finally voting to end the 16-day, ‘Tea-Party’ manufactured shutdown and debt ceiling crises.

As CNN noted, shortly after President Barack Obama signed the measure into law, Congress has furnished only a “temporary bandage,” which leaves the draconian “sequester” cuts in place, authorizes government spending at current levels through Jan. 15, 2014 and postpones the same threat of a default on the nation’s financial obligations until Feb. 7, 2014.

Meanwhile, radical ‘Tea Party’ Republicans, like Rep. Mick Mulvaney of South Carolina, insisted “this was worth having the fight,” even as they were conceding absolute defeat.

Worth it? Well, not to actual fiscal conservatives, according to the numbers…

The economic consulting firm, IHS Global Insight says the 16-day shutdown cost the U.S. government alone some $4.8 billion. Those numbers, “about $1.6 billion a week, $300 million a day, or $12.5 million an hour…cover just the cost in work and services the government is unable to perform,” as federal workers were furloughed, NBC reported.

Standard & Poor’s, according to The Hill, pegs the real cost of the Republican shutdown to the full U.S. economy to be “at least $24 billion”, as it shaved some .6% of economic growth off the nation’s GDP.

[Despite the “default denialists” heard over the last week in the ‘Tea Party’, it would have been much worse than even that, had a deal not been struck at the last minute. John Chambers, the global head of S&P’s sovereign ratings committee, said this week, according to a Newsweek exclusive, that the agency was just minutes away from changing the U.S. credit rating from it’s already lowered AA+ to “selective default”, “the lowest of S&P’s 20 grades of untrustworthiness.” The only other country to have that distinction? Grenada.]

The bi-partisan bill ultimately passed to re-open the government and avoid federal default also mandates back pay to furloughed government employees, much of it for public services never provided to the American people. To top it off, The Hill also reports that, according to Taxpayers for Common Sense, the bill ultimately agreed to by Republicans will “increase total authorized spending by $1.2 billion.”

But that’s not all. Today, the Los Angeles Times details how the “economic hit” from the shutdown “could endure.” The paper asserts “the extent of the economic harm goes well beyond what can be immediately tallied: lost business deals and disrupted research; a hit to consumer confidence; and what many see as permanent damage to U.S. credibility around the world.” The disturbing examples provided by the Times include the possible inability of the National Science Foundation to salvage important data from a halted, below-ice environmental study in Antarctica.

Oh, well, from the standpoint of climate science denialists, halting anything that might lead to further confirmation of global climate change would be considered “worth it,” no?

To a Republican Party which pretends to be concerned about fiscal conservatism — even as these numbers and many others show they clearly are not — any “victory” found amidst this shutstorm will have to do.

Share article:

--- COMMENTS follow below Ad Content ---

Reader Comments on

What ‘Fiscal Conservatism’? The Cost of the Republican Shutdown

5 Comments

(Comments are now closed.)


5 Responses

  1. 1)
    Mike Conley said on 10/19/2013 @ 2:07am PT: [Permalink]

    Bumper sticker spotted in San Diego County:

    Tea parties are for little girls with imaginary friends.

  2. 5)
    clarence swinney said on 10/22/2013 @ 8:52am PT: [Permalink]

    SEAN HANNITY
    Will he break Rush Limbaugh’s record?
    Rush said, a few years ago, “that media watch group FAIR edited 4,000 hours of my transcripts and found 45 little errors”. Ho! Hum! Dum! Dum!
    I got the report from Fair. Averaged over 2 lies(intent to deceive) per hour or over 10,000 Lies.
    Hannity appears to be on a Rant to exceed that per hour average. News Hounds.Org edits Fox News (we watch Fox so you do not have to do it). What is Sean average?
    It is disgraceful that Armed Forces Radio carries a pathological liar like Rush.
    Obama should kick him off that air. Young minds are easily influenced.

(Comments are now closed.)


--- Ad Content ---

BB SIDEBAR NOTICE

Thanks to you, The BRAD BLOG has been trouble-making and muckraking for … 22 YEARS!!!

Please help The BRAD BLOG, BradCast and Green News Report remain independent and 100% reader and listener supported in our 23rd YEAR!!!

ONE TIME
any amount...

MONTHLY
any amount...

OR VIA SNAIL MAIL
Make check out to...
Brad Friedman / BRAD BLOG
7095 Hollywood Blvd., #594
Los Angeles, CA 90028

RECENT POSTS

Sunday ‘Happy Birthday’ Toons

THIS WEEK: 80 47 ... Deal or No Deal? ... FIFA on ICE ... Trump 💖 Inflation ... Platner and Pigs ...

Trump’s Name Removed from Kennedy Center Building

UPDATES: Court rejects last minute appeal, rules name must come down off building; Workers build scaffolding solely to obscure removal; By Saturday morning, name is reportedly down, sign still curtained off...

Trump Policies Imperiling Social Security, Depleting Trust Fund; ‘BradCast’ 6/11/2026

Guest: Nancy Altman of Social Security Works; Also: FL Supremes okay GOP's unconstitutional U.S. House map; Ebola outbreak explodes amid U.S. leadership vacuum...

‘Green News Report’ – June 11, 2026

With Brad Friedman and Desi Doyen

Maine Dems Elect Platner in Landslide: ‘BradCast’ 6/10/2026

Repub Hilton 'wins' slot in CA Guv general election; Inflation spikes again; New U.S. solar milestones despite Trump; Primary results from ND, NV, SC and ME...

Corporate Donors to White House Ballroom Win $50 Billion in New Government Contracts, Funding: ‘BradCast’ 6/9/2026

Guest: Robert Weissman of Public Citizen; Also: Updates on the races for CA Guv, L.A. Mayor, Trump's evidence-free allegations of election fraud...

‘Green News Report’ – June 9, 2026

With Brad Friedman and Desi Doyen

‘Crooked or Stupid’: Trump Rails Against ‘Rigged’ CA Elections, Offers No Evidence, Storms off Interview: ‘BradCast’ 6/8/2026

Counting continues in CA; Critical ME primary tomorrow; Also: Callers ring in, some who have fallen for phony rightwing 'voter fraud' claims...

Sunday ‘Tick Tick Tick Tick’ Toons

THIS WEEK: Breaking News at CBS ... On the Money ... Iran and Iran We Go ...

‘I’m not a Victim. I was a Criminal’: J6er Says ‘No’ to Trump’s ‘Weaponization’ Slush Fund Money: ‘BradCast’ 6/4/2026

Guest: Convicted MAGA rioter Jason Riddle; Also: Pelley charges new CBS execs pushing 'falsehoods', 'bias' into '60 Minutes'...

‘Green News Report’ – June 4, 2026

With Brad Friedman and Desi Doyen

Trump’s Favorite Election Fraud Criminal Now Runs Free: ‘BradCast’ 6/2/2026

Also: Not so 'hot' after all, as data finds international tourism to U.S. plummeted in 2025...

‘Green News Report’ – June 2, 2026

With Brad Friedman and Desi Doyen

One Failure After Another: ‘BradCast’ 6/1/2026

We are in an historic moment, as the Trump Presidency begins its collapse; Also: Callers ring in on tomorrow's wild California Gubernatorial primary...

About Brad Friedman...

Brad is an independent investigative journalist, blogger and broadcaster. Full Bio & Testimonials… Media Appearance Archive… Articles & Editorials Elsewhere… Contact…

He has contributed chapters to these books…
…And is featured in these documentary films…

BRAD BLOG ON THE AIR!

THE BRADCAST on KPFK/Pacifica Radio Network (90.7FM Los Angeles, 98.7FM Santa Barbara, 93.7FM N. San Diego and nationally syndicated, Monday-Thursday, on many other affiliate stations! ALSO VIA PODCAST: RSS/XML feed | Pandora | TuneIn | Apple Podcasts/iTunes | iHeart | Amazon Music
GREEN NEWS REPORT, nationally syndicated, with new episodes on Tuesday and Thursday. ALSO VIA PODCAST: RSS/XML feed | Pandora | TuneIn | Apple Podcasts/iTunes | iHeart | Amazon Music
Media Appearance Archives…

--- Ad Content ---

ADDITIONAL STUFF

Brad Friedman/
The BRAD BLOG Named...

Buzz Flash's 'Wings of Justice' Honoree
Project Censored 2010 Award Recipient
The 2008 Weblog Awards