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The Almighty Buck

Shutdown Cost the US Economy $24 Billion 767

Hugh Pickens DOT Com writes "Time Magazine reports that according to an estimate from Standard & Poor's, the government shutdown, which ended with a deal late Wednesday night after 16 days, took $24 billion out of the U.S. economy and reduced projected fourth-quarter GDP growth from 3 percent to 2.4 percent. The breakdown includes about $3.1 billion in lost government services, $152 million per day in lost travel spending, $76 million per day lost because of National Parks being shut down, and $217 million per day in lost federal and contractor wages in the Washington D.C. metropolitan area alone. Hundreds of thousands of federal workers bore the economic brunt of the shutdown but small businesses also suffered from frozen government contracts and stalled business loans. With the deal only guaranteeing government funding through January 15, the situation could grow worse. 'This is a real corrosion on the economy,' says Mark Zandi, chief economist for Moody's Analytics. 'If we have to go down a similar road in the near future, the costs are going to continue to add up.'"
Earth

North Pole Ice On Track To Melt By September? 978

phobos13013 writes "Recently released evidence is showing the North Pole ice is melting at the highest rate ever recorded. As a result, the Pole may be completely ice-free at the surface and composed of nothing but open water by September. As reported in September of last year, the Northwest Passage was ice-free for the first time known to man. The implications of this, as well as the causes, are still being debated. Are global warming experts just short-sighted alarmists? Are we heading for a global ice age? Or is the increase in global mean temperature having an effect on our planet?"

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