pbrauer
DP Veteran
- Joined
- Jun 6, 2010
- Messages
- 25,394
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- Location
- Oregon
- Gender
- Male
- Political Leaning
- Liberal
Conservatives don't care about the cost as long as it serves their political goals, in my opinion.
Debt ceiling cost: $1.7 billion for Treasury bills - Aug. 1, 2011
NEW YORK (CNNMoney) -- 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.
"That's real money," said IHS Chief Economist Nariman Behravesh. "Taxpayers need to wake up to the fact that these kind of shenanigans in the end cost."
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