Congress Economy

S&P: “Our Forecast Didn’t Hold” Because the GOP is Insane

The GOP Government Shutdown of 2013 may end tonight, but plenty of damage has already been done.

Standard & Poor’s calculates that the shutdown that has so far lasted just over two weeks has taken $24 billion out of the economy, shaving at least 0.6 percent off of GDP in the fourth quarter.

The agency had originally predicted a 3 percent growth rate in GDP this quarter, noting that “we thought politicians would have learned from 2011 and taken steps to avoid things like a government shutdown and the possibility of a sovereign default.” But now recognizing that “our forecast didn’t hold,” it has reduced that estimate to 2 percent.

They “thought politicians would have learned from 2011.”

Funny people.

  • js hooper

    We’ll see if this gets any play in the media…who views their jobs as carrying water for Republicans and pinning their destructive behavior on Pres.Obama.

    I’m sure we’ll get the standard “both sides” at fault meme.

  • mrbrink

    And they have the gall to complain about this sluggish, job-killing Obama economy.

  • Victor_the_Crab

    Let’s hope the voters learn from this in a year from now.

    • muselet

      Speaking of funny people …

      (Hey, I hope so, too, but I don’t see it happening. Both sides, don’t you know.)