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Trump Walks Out of Shutdown Meeting With Pelosi in Few Minutes, Says Bye-Bye

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No. 1-6A Shut Down Government Actually Costs More Than an Open One By Jim Tankersley Jan. 9, 2019 A federal government shutdown might seem like a great way to save money: When agencies aren’t open, they aren’t spending tax dollars. But history shows us that closing the government actually costs more than keeping it open. Shuttered parks can’t collect entrance fees. Furloughed workers will ultimately get paid for not showing up to work. And the government will wind up having to pay interest on missed payments to some contractors. “There’s nothing good about this shutdown, from a fiscal or a budgetary standpoint,” said Michael A. Peterson, chairman of the Peter G. Peterson Foundation, which advocates fiscal prudence and federal debt reduction. “We’re absolutely not celebrating not spending

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No. 1-6

A Shut Down Government Actually Costs More Than an Open One By Jim Tankersley Jan. 9, 2019

A federal government shutdown might seem like a great way to save money: When agencies aren’t open, they aren’t spending tax dollars. But history shows us that closing the government actually costs more than keeping it open.

Shuttered parks can’t collect entrance fees. Furloughed workers will ultimately get paid for not showing up to work. And the government will wind up having to pay interest on missed payments to some contractors.

“There’s nothing good about this shutdown, from a fiscal or a budgetary standpoint,” said Michael A. Peterson, chairman of the Peter G. Peterson Foundation, which advocates fiscal prudence and federal debt reduction. “We’re absolutely not celebrating not spending money.”

Here are some ways that the shutdown raises costs for the federal government. Federal employees will eventually get their salaries — for work they weren’t allowed to perform ....

Mike Shedlock
Mike Shedlock (Mish) is a registered investment advisor representative for SitkaPacific Capital Management (http://www.sitkapacific.com/). Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

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