Wallet Hub, October 8, 2013, Tuesday

Wallet Hub

October 8, 2013, Tuesday

Wallet Hub (full article)

What The Government Shutdown Means For Your Wallet

While some estimates for the cost to the economy are as high as $300 million a day, Arthur Wheaton, Dir., Western N.Y. Labor and Environmental Programs at Cornell University, thinks that estimate is too low.

“I think the actual costs will be much higher and affect more people as the shutdown extends,” Wheaton said. “The National Parks system only impacts a relatively small number of employees. They do however impact many thousands of jobs that depend on the visitors for their income. That would include hotels, restaurants, souvenir vendors, gas stations, other area attractions, airlines and rental cars. If the shutdown lasts a week the effects will be minor to moderate. If the shutdown lasts weeks to months that will directly affect many thousands of people and millions, if not billions, of dollars.”