Debt ceiling (delay) cost to taxpayers: $18 million

[sinkingfeeling]

http://money.cnn.com/2011/08/01/markets/debt_ceiling_treasury_bills/index.htm

NEW YORK (CNNMoney) -- The debt ceiling debacle has just cost U.S. taxpayers more than $18 million.

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 $18,458,654 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."

But, the higher cost of financing government operations from just two weeks ago will now add to the nation's deficit, further contributing to the problem that caused political gridlock in the capitol.

*****************
Note to the Tea Party:
Just think of what a default would have added to the interest cost.

[gateley]

1. Note to sinkingfeeling: The Tea Party doesn't understand facts or logic.

But thanks for the effort! :hi:

[LiberalFighter]

2. I tweeted the link and changed it to Tea Party Tantrum cost taxpayers $18 million

[elleng]

3. sinking, asking them to 'just think' is a bit of a stretch, dontcha think?

Thanks for the info.

:hi:

[BlueCaliDem]

4. They should make the Republican Party, Norquist, Rover, and TeaBagger pols

pay for it. They're the ones who dragged this out.