Government shutdown cost economy $11 billion, budget office says

[orangecrush]

By Dareh Gregorian

Of that $11 billion hit, $3 billion is gone forever, a Congressional Budget Office report found.


Federal employees went back to work Monday after the longest shutdown in government history — but the economic effects will be felt for a long time.

A report released Monday by the nonpartisan Congressional Budget Office found that the economy took an $11 billion hit, including $3 billion that's gone forever, in the 35 days that parts of the federal government went unfunded.


"In CBO's estimation, the shutdown dampened economic activity mainly because of the loss of furloughed federal workers' contribution to GDP, the delay in federal spending on goods and services, and the reduction in aggregate demand," the report said.

And that may just be the tip of the economic iceberg.


"Underlying those effects on the overall economy are much more significant effects on individual businesses and workers. 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. Some of those private-sector entities will never recoup that lost income," the report said.

https://www.nbcnews.com/news/amp/ncna963531

How can Trump still be president and still be talking about DOING THIS AGAIN?