What's the price tag of stupidity? In the case of the foolish debt ceiling fiasco, the cost is $1.3 billion ... for one year, with the ultimate cost sure to rise. The Republican hissy fit will cost us at least three times as much as Solyndra.
Last summer’s fierce political debate over raising the federal debt limit cost taxpayers more than $1*billion in extra borrowing costs, including hundreds of hours in overtime for federal employees responsible for avoiding default, according to a new government report.
Delays in raising the debt limit forced the Treasury Department to pay an extra $1.3*billion in borrowing costs — and the final sum is expected to climb higher as multi-year obligations and other outstanding costs are added later, the Government Accountability Office said in a report released Monday.