WASHINGTON - History has shown that government shutdowns are not without a price tag -- sometimes a very large one -- and our nation's current situation no different.
Economic consulting firm IHS Global Insight tells ABC World News the shutdown could cost an estimated $300 million per day due to lost wages and productivity from the nearly 800,000 furloughed federal employees.
That translates to about $12.5 million an hour or roughly $1.6 billion a week.
While this is just a rough and unofficial estimate, it provides an overall look at the financial impact of the budget battle, which has also been seen in past shutdowns.
According to the Pew Research Center , the last government shutdown that lasted 26 days from late 1995 to early 1996 cost $1.4 billion or roughly $2.1 billion in today's dollars.
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