As Republicans dig in their heels (for the record, I am a Republican by traditional definition only, but it is just a distant memory now)–all in an attempt to hold the country hostage over a last-ditch attempt to delay “Obama-care,” one can only shake their head. By the way, they have had 40 votes to try to defeat Obama Care; it went to the Supreme Court, and was upheld. It all comes down to ONE Man: the House Speaker John Boehner, and to a smaller degree, a few of his cronies. Let’s take a look at what this really means.
- Closing of Government parks and landmarks.
On the surface: No big deal…right, so vacationers and school kids can’t see Yogi Bear’s cousin or a 100-year-old statue.The Reality: What about the workers inside there, on leave, with NO pay? It’s not like a park ranger is on $95,000 a year and can absorb a little time off. The average government park ranger earns $34,000 a year before taxes. That’s about $680 a week before taxes and around $500 week after taxes. What about the minimum wage concessions, taxis in the capital, hotels, restaurants, souvenirs, and the list goes on.
- Regulatory agencies like SEC, CFTC, and FBI CLOSED.
Oh oh…now we are talking. Are Republicans really ready to go to a skeleton crew within these agencies just to prove a point? Are we better off without a Center for Disease Control, no food inspections, no financial or terrorism oversight? Insanity…right?
- Buying a new house and waiting for mortgage approval.
- Government reports.
Forget about it! The news that the world relies on to trade and make decisions…cancelled.
It is estimated that this foolishness will cost the U.S. economy about $300 million a day. In the last shutdown, 17 years ago (yes, this actually happened before and it is estimated in today’s dollars to have cost $2.1B in 21 days).
The real cost cannot be calculated. The credibility of the U.S., as the world watches in disbelief and pure amusement. The loss of continuity, respect, and security that workers lose when they are told not to show up. I am confident that criminals, terrorists and other groups that are not held accountable or watched during these times, feel like it’s Christmas in July.
The real “Scam” or crime of this whole game is that while the lawmakers play with people’s lives for their own political gain (trust me, no one will win here) and that they still get paid! That’s right, for all the back and forth and game playing, while the average person cannot collect a paycheck. Everyone of them, gets paid regardless.
On October 18th (assuming this event passes) there will be a much bigger hurdle: the battle over the debt ceiling. In other words, will the U.S. be able to print more money to meet its obligations.
I hate to bring up the subject of opportunity at a time like this, but placing my vote (selling the dollar and bonds, looking for higher interest rates due to a downgrade in the U.S creditworthiness) in certain areas wouldn’t hurt …would it?