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The Daily

Blizzard's Price Tag Estimated to be $3 Billion

By:
Chris Gaetano
Published Date:
Jan 25, 2016
'Snowzilla 2016 MD' by Aude - Own work. Licensed under CC BY-SA 3.0 via Wikimedia CommonsMoody's estimates that this past weekend's monster snow storm has cost nearly $3 billion, most of this sum coming not from property damage, which was relatively mild, but from businesses shutting down left and right as the weather paralyzed the American east coast, according to CNN Money. With people everywhere instructed to stay off the roads and remain indoors, there wasn't much buying or selling going on, which translated into lost business for owners and lost wages for workers. Despite this, CNN Money pointed out that the economic damage could have been a lot worse, as the storm took place over the weekend instead of during the more busy work week. It also noted that, compared to the cost of hurricanes like Sandy, which resulted in $26 billion worth of lost business on top of $45 billion in physical damage, $3 billion, while certainly not good news, isn't quiet as a bad.