5 ways the #EconomicShutdown is Impacting America's Businesses

With day 7 of government of shutdown in full swing – it’s time to take a look at how the political games being played by a single group of one political party in Washington are impacting our economy and business leaders across the country. Read & share the 5 ways the #EconomicShutdown is hurting our economy -- then share your story with us.

1. The shutdown is costing our economy $300 million a day

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Reduced government spending, furloughed federal employees tightening their wallets, and massive drops in economic confidence are all contributing to a large decrease in the U.S. economy's economic output. As the shutdown drags on, the daily number could go even higher, says IHS, a global market research firm.

Goldman Sachs estimates that a weeklong shutdown will slow economic growth by .2%, and up to .4% with a multi-week shutdown.

According to congressional researchers, the last shutdown in 1995 and 1996 cost taxpayers $1.4 billion.

2. Small business owners are already hurting

Via Crushable.com

Out of 100 business leaders who responded to a CNNMoney/Thumbtack.com survey, 46% said their firms were "feeling the impact of the shutdown, including cancellation of ongoing work and less new work coming in."

From delaying investments to impacting janitorial contractors, photographers, caterers, DJs, and others impacted by the closure of the national parks and cancelled weddings, the shutdown is hurting America's small business owners.

3. Economic uncertainty is bad for business – and driving economic confidence to its lowest point since December of 2011

Via Youtube.com

Gallup explains:

"Americans' confidence in the U.S. economy has dropped sharply as the partial government shutdown caused by Congress' inability to pass a spending bill has become reality. Gallup's Economic Confidence Index's three-day rolling average stands at -34 for Oct. 1-3, down 14 points from Sept. 27-29, and the lowest such average since December 2011."

4. Our slow but steady economic recovery is in jeopardy

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Consistent job growth, investment growth, and a positive economic outlook including projections from the Consumer Electronics Association that retail sales would increase by 4% this holiday season are being rethought as the shutdown drags on, says the group's chief economist.

5. Stock Markets are suffering – and it could get a lot worse

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The DOW, NASDAQ, and S&P 500 have all taken a shutdown hit as uncertainty grows and worries over the debt ceiling loom, but the potential hit could get much worse:

During the 2011 fiscal cliff, the S&P fell nearly 20%.

Read more from USA Today on how the seventh day of the shutdown is impacting investor outlook.