I shouldn’t be laughing at this, but I am. This is absolutely hilarious to me.
The fact that the 2011 debt limit fight harmed the U.S. economy in various ways has been well documented, but a new report by a government auditor attempts to quantify one piece of it. Specifically, by walking the country up to the brink of default and spooking creditors and making borrowing more expensive, how much money did Congress cost the federal government?
The answer? In fiscal year 2011 alone, the debt limit brinksmanship cost the government $1.3 billion, according to a new Government Accountability Office report.
The great debt-ceiling hostage crisis of 2011 cost the government $1.3 billion.
For comparison’s sake — House Republicans, lead by Darrell Issa, spent over a year investigating the solar panel manufacturer Solyndra, and the cost of Solyndra’s loans was only $500 million.