How Much Did the U.S. Gov't Shutdown Cost?

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Oct. 17 (Bloomberg) -- On today's "The Real Deal," Michael McKee examines the economic cost of the U.S. government shutdown. He speaks on Bloomberg Television's "In The Loop." (Source: Bloomberg)


A farm bill will start up this week.

There are other issues.

Will not be immigration.

Maybe smaller issues along the way.

The big-budget conference will be the focus for a lot of people in washington.



That the budget battle is over for now, michael mckee has the real deal on the cost to the economy.

It was stupid and painful and accomplished nothing and accomplished a lot.

A 16 day shutdown took about $24 billion out of the economy.

You have to remember, the 24 billion has lost one worker at a time.

There is an interesting side story on that today.

It is all reflected in fourth- quarter gdp.

S&p took the forecast down close to two.

We are waiting for others to weigh in.

Much of that will come back in the first quarter.

We hope federal workers will get there back pay.

We have an agreement to do this at the end of the year.

No reason to expect politicians will do anything right allyn -- right then.

Even if there is no shutdown, we have to live with the uncertainty.

Since 2009 because of uncertainty, corporate darling costs are higher.

Growth is lower.

Unemployment higher.

Almost one million fewer jobs than we would have had.

R now that this is all over, we can get back to asking you, what about the fed?

They meet again in two weeks.

The damage to the economy likely take some off-line.

Lack rock and pimco telling investors pimco will be delayed.

The fed will have no choice but to stay longer in the experimental vote due to the likelihood of weaker data and the perceived take out of the economy against future political debates.

Will we ever see the jobs report?

The all-important september jobs report.

We do not know yet.

Workers are just coming in this morning.

A lot to catch up on, including the jobs number.

One big question, what about the october report.

This is the week they should do the survey for unemployment.

We will see if it makes any difference.

Goldman sachs has said they may want to do as they did back in 1995 and 1996. could put us in line for a jobs report tomorrow or friday.

We will be on the lookout.

Right now joined by roger altman.

He previously served as the assistant e terry of the

This text has been automatically generated. It may not be 100% accurate.


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