Shutdown took $24 billion bite out of economy – Oct. 16, 2013

The United States may have dodged an economic catastrophe by raising the debt ceiling and opening the government, but it didn’t emerge from the political debacle unscathed.

The 16-day government shutdown took a $24 billion chunk out of the U.S. economy, according to an initial analysis from Standard & Poor’s.

As a result, the rating agency projects that the U.S. economy will grow 2.4% in the fourth quarter — as opposed to the roughly 3% growth rate predicted prior to the shutdown.

via Shutdown took $24 billion bite out of economy – Oct. 16, 2013.

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