Freedom (From Sanity) Isn’t Free


NEW YORK (CNNMoney) — 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.

Thanks a lot, Teabaggers… you really know how to run up a debt!

(H/T Josh Marshall, TPM Editors Blog.)


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  • ellroon  On Tuesday August 2, 2011 at 11:46 am

    Don’t forget about the Republicans taking a vacation while leaving the FAA shut down unaddressed. Losing millions in taxes…

    • Steve  On Tuesday August 2, 2011 at 12:01 pm

      Indeed I had forgotten that, ellroon; thanks for reminding me. The whole thing, undeniably all about money, is not really so much about money as about the exercise of raw power in behalf of the oligarchy, and Republicans are more effective at fascism than Democrats. On such sorry criteria is our government chosen these days.

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