1.7 Billion: The Cost of The Debt Ceiling Debate

August 1, 2011 7:12 pm

We have written about the debt ceiling under different presidents and the bet on debt ceiling before. We spotted this today:

“The debt ceiling debacle has just cost U.S. taxpayers more than $1.7 billion.

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 $1,721,250,000 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. ”

Statistics Source: CNN Money

For Interesting Statistics Everyday, Find Statspotting on Facebook and Follow Statspotting on Twitter

Leave a Reply