Shutdown costs pegged at $3 billion as government reopens
(Worthy News) – The U.S. economy was expected to lose $3 billion from the partial federal government shutdown over President Donald Trump’s demand for border wall funding, congressional researchers said on Monday as 800,000 federal employees returned to work after 35 days without pay.
The nonpartisan Congressional Budget Office said the cost of the shutdown would make the U.S. economy 0.02 percent smaller than expected in 2019. More significant effects will be felt by individual businesses and workers, particularly those who scrambled to make ends after not being paid.
Overall, the U.S. economy lost about $11 billion during the five-week period, the CBO said. It expects $8 billion to be recovered, however, as the government reopens and employees receive back pay. [ Source: Reuters (Read More…) ]
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