Government Shutdown Cost Economy Billions of Dollars - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Government Shutdown Cost Economy Billions of Dollars

Posted: Updated:

After a two and a half week stalemate on Capitol Hill that lead to a partial government shutdown, last Wednesday, lawmakers struck a deal.

The shutdown is over for now, but that doesn't mean its negative impact isn't far reaching.

Around the world, the state of our economy is the center of debate.

"I think this has shaken U.S. respect around the world and confidence in the economic side of it," said University of Nevada Political Science Professor Eric Herzik. "We're still by far the largest economy. The good thing for the United States, while people are looking for some other place to park their money, we are still the best bet on the block, but people are looking and that's not a good sign."

According to Time Magazine, the 16-day shutdown cost the economy about $24 billion. 

Fred Lokken, political science professor at Truckee Meadows Community College said the continual bickering in Washington is holding us all back from full recovery.

"All the polls now indicate a dramatic pulling back that clearly coincides with this shutdown. It has shaken the confidence and we didn't have a lot to begin with in government. We are a cynical nation now in modern times, but it has shaken that and they are pulling back. This could impact the Christmas season and 2014 could be bleaker."

To watch the entire interview, tune in for Face the State. The show airs Sunday at 6:30am and 4pm.

Written by Chris Ciarlo

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.