Debt Ceiling Battle Tab: $1 Billion-Plus

Remember that nasty and protracted fight to raise the nation’s debt ceiling last summer?
It cost taxpayers a pretty penny: $1.3 billion.

That’s how much the government paid to cover additional costs of borrowing money during the epic debt battle that dominated Washington last summer, as investors grew jittery over the delay. That uncertainty led to higher borrowing costs for the federal government, according to a Government Accountability Office report released Monday.

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