CBO: Gov’t Shutdown Caused $3 Billion Permanent Loss to Economy

HeadlineJan 29, 2019

As federal employees returned to work after a 35-day partial government shutdown, the Congressional Budget Office said the shutdown resulted in an economic loss of $11 billion—$8 billion of this is believed to be temporary, leaving a permanent economic loss of $3 billion.

Members of a bipartisan conference committee are starting talks this week, tasked with securing an agreement that both Congress and Trump will have to approve to keep the government open. The current temporary funding bill will expire on February 15. Trump has threatened to shut down the government again or declare a national emergency if Congress does not include border wall funding in its bill.

House Speaker Nancy Pelosi has invited President Trump to deliver the State of the Union address on February 5. The address was initially scheduled to happen today, but Pelosi refused to extend an invitation to Trump during the government shutdown.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Up arrowTop