Update: U.S. Spending $100 bln On Y2K Repairs...11/18/99

WASHINGTON (AP) - The government pinned a staggering $100 billion price tag Wednesday on the nation's repair bills for the Year 2000 technology problem, or $365 for each man, woman and child. For all that, the Commerce Department predicted the impact of Y2K computer failures on the economy would be merely "something like a tangled shoelace for a world-class marathon runner." In a new report, the government said America's booming economy was sufficiently "stable, large and resilient" that failures - even those overseas - will not seriously affect the nation's $9 trillion gross domestic product. "Any glitches that pop up next year should not hurt our economic growth," Commerce Secretary William Daley said. "I am not going to lose any sleep."

 

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