The Government Shutdown is Going to Cost Us How Much?

January 28, 2019

Now that the partial government shutdown has finally ended, the real damage may begin. A study published Monday by the nonpartisan Congressional Budget Office finds that the shutdown cost the U.S. economy $11 billion in economic activity--including $3 billion that's expected to be permanently lost. “Among those who experienced the largest and most direct negative effects are federal workers who faced delayed compensation and private-sector entities that lost business,” the report said. “Some of those private-sector entities will never recoup that lost income.” The CBO also projected that economic growth will slow in 2019 to 2.3 percent, compared to a 3.1 percent rate last year; that figure was reportedly also influenced by fading benefits from the Trump tax cut.