The government shutdown has cost the economy $11B

The government shutdown has cost the economy $11B

"Although their precise effects on economic output are uncertain, the negative effects of such factors would have become increasingly important if the partial shutdown had extended beyond five weeks".

A partial government shutdown is possible again next month when funding for many agencies runs out February 15 under the short-term spending deal reached Friday.

Federal workers poured off of commuter buses and subway escalators on a block of downtown Washington on Monday.

While much of that loss will be recovered, the CBO estimates that $3 billion is permanently lost. "Some of those private-sector entities will never recoup that lost income", the CBO stated.

The agency cautioned, however, that its estimates "do not incorporate other, more indirect negative effects of the shutdown, which are more hard to quantify but were probably becoming more significant as it continued".

Trump was widely seen as having lost the standoff with congressional Democrats as polling showed most voters blamed the president for the impasse while hard-right commentators accused him of capitulation.

The President's shutdown inflicted needless pain and chaos in the lives of millions of Americans, and stole billions of dollars from the economy.


The U.S. economy is expected to lose $3 billion from the 35-day partial federal government shutdown over President Donald Trump's demand for border wall funding, congressional researchers said on Monday.

While some said Trump caved by reopening the government with no border wall funding (conservative commentator Ann Coulter described Trump as a "wimp"), he insisted that the deal was "in no way a concession". About 800,000 federal workers were furloughed or forced to work without pay as it unfolded.

Trump said he would be willing to shut down the government again if lawmakers don't reach an acceptable deal, but on Sunday expressed skepticism that such an agreement could be reached.

Amelia Williams, right, a furloughed employee of the TSA, collects goods at a food donation site set up for federal workers by the Food Bank of NYC at the Barclays Center in Brooklyn, New York, Jan. 22, 2019. The bill cleared Congress quickly on Friday after Trump announced he would back it.

Not only will compensation be affected, but so will tax revenues, CBO predicts.

CBO estimated that about $18 billion in federal discretionary spending was delayed during the shutdown, although most of that is likely to resume again - unless there is another shutdown in less than three weeks.

That led the GDP in the last quarter of 2018 to drop by $3 billion, or.1 percent.

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