This one is going to make you flip your lid! Remember last summer’s political circus over the debt ceiling? Turns out…you – the taxpayers – are still paying for it!
While the White House and Congress were fighting over how to raise the country’s borrowing limit…they were actually racking up taxpayer’s bills. A new report shows that debt fight alone cost you at least $1.3 billion. Why did it cost so much? According to the Government Accountability Office – the debt fight caused increased borrowing costs for the treasury department.
They had to suspend investments in several funds just to pay the nation’s financial obligations. Then, after the fight ended, treasury had to spend more money to restore those funds.
And that is not all! During the battle — Bureau of Public Debt Workers racked up hundreds of hours in overtime. So the gridlock in Washington is not only frustrating, it is expensive!
What do you think about this? Post your thoughts below!