Debt Ceiling Debate Cost Taxpayers $18.9 Billion, Study Finds

The Huffington Post
Nov. 28, 2012

Last summer's seemingly interminable debt-ceiling battle is going to cost taxpayers billions, according to a new report.

All told, the political fiasco will cost taxpayers $18.9 billion over 10 years, the Bipartisan Policy Center has found. That's largely the result of the government having to borrow at higher interest rates during the standoff, a time when investors feared the possibility of a default.