United States is Losing $160 Million a Day during Shutdown
United States is Losing $160 Million a Day during Shutdown (Bloomberg)
According to HIS Inc., a Lexington, Mass-based research firm, the U.S. government shutdown was responsible for some $1.6 billion in lost economic output… last week. And as the closure drags on, it is leeching away $160 million from the American economy each day. Adding another perspective, Equecat Inc., a California-based catastrophe risk-modeling company estimates that with two more days of lost output, the shutdown will equal last month’s Colorado floods in terms of damage done — at more than $2 billion. While the shutdown may not rain sludge and mud down on homes, it’s certainly muddying the economic recovery picture for the United States, its markets and investors.