Fiscal Responsibility

$405 Billion

How much is Republican hostage-taking costing America? According to Third Way’s analysis of the S&P 500 Index, “from the moment Speaker Boehner walked away from the table last Friday to the opening bell this morning, shareholders in U.S. stocks have lost $405 billion.” In addition, the Down Jones Industrial Average has dropped 483 points since Speaker Boehner’s most recent walk-out.

To put that in perspective, we’ve lost almost as much in five business days as Republicans want to cut from the budget over five years. Republicans always say that they don’t want to raise taxes on job creators—but their irresponsible actions are already taxing businesses and investors to the tune of $405 billion, and counting. There’s no doubt: Republicans’ reckless refusal to compromise—and their willingness to push America toward an historic default—is economically destructive. It’s time for Republicans to put their country first. Let’s compromise on a balanced solution to pay our bills and reduce our deficit.