S&P: Shutdown Cost U.S. $24 Billion, 0.6% GDP In Projected Growth

S&P: Shutdown Cost U.S. $24 Billion, 0.6% GDP In Projected Growth

The first federal government shutdown in 17 years, triggered by a Republican demand to defund the Affordable Care Act on Oct. 1, cost the U.S. $24 billion in potential economic activity – equalling at least 0.6% of projected annualized fourth-quarter 2013 GDP growth, according to ratings agency Standard & Poor’s.

Instead of the 3% annualized growth fourth quarter originally projected in September, S&P now forecasts actual fourth-quarter growth near 2%, the agency said in a press release:

Same outcome with a more accurate headline…

The first federal government shutdown in 17 years, triggered by President Obama’s refusal to negotiate the terms of the Affordable Care Act on Oct. 1, cost the U.S. $24 billion in potential economic activity – equalling at least 0.6% of projected annualized fourth-quarter 2013 GDP growth, according to ratings agency Standard & Poor’s.

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You act as if laws are never changed. Wake up. :roll::roll:

Because the law fines U.S. citizens if they refuse to buy a product/service from a private company. Our federal government has no authority under the constitution to require that… anymore the InterNACHI has the authority to order every inspector in the U.S. to purchase RecallChek.

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They did take it to the supreme court and the supreme court said it was unconstitutional as written and so they had to turn it into a tax. Basically the supreme court rewrote it. The supreme court is part of the federal government BTW.

If Roberts had not rewritten the specific intent of congress it could not have been found “constitutional”.

He legislated from the bench which is wrong.

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Correct. And the supreme court is merely their in-house interpreter of the constitution. They are part of the federal government.

If congress passed a law that said that we all have to turn in our guns and the supreme court said it’s constitutional as long as you consider guns payment of a mandatory tax… it still wouldn’t be constitutional.

The federal government has almost no say over me. I live in Colorado. I am governed by my state laws.

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And as soon as we (in Colorado) get our own state bank (we’re close)… we’re done with the Fed’s financial games.

Then don’t apply for it. Buy it yourself without the middleman (exchanges). People are just plain stupid, and the government is taking advantage of that. It is not about health care; it is about total government control.

Americans have a choice. Do you want the government controlling you and every facet of your lives (socialism), or do YOU want to control and dictate how you live (freedom)?

Take from the rich, give to the poor. Eventually, the rich will be poor, then everyone will be poor; and the government will be rich, and have full control over your life.

Americans in the next election will have to decide which way they want to go.

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I’m a proud citizen of Colorado first and foremost. My U.S. citizenship doesn’t mean much to me anymore.

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No I’m not. I’m disavowing myself of anyone who operates in violation of it. My right’s are inalienable and given to me by God. Someone 2,000 miles away from me can infringe on them, but I recognize that as an illegal infringement on them, not a change in them.

Change the topic and alliances fall like dominoes, no more Kermit colored “T”'s for Nick… They’ve been recalled. :wink:

We’ll all be aligned together when dollar crashes because of all their borrowing for new government programs.

The president is not allowed to “make or change law,” but he has “cherry-picked” portions to enforce and/or not to enforce.

Some parties have been exempt, others have been allowed subsidies, and he has “temporarily suspended” some of the provisions of the law. How on earth (in this country) can this be allowed?

Implement it fully, or repeal it.