U.S. government shutdown about to become longest on record from CNBC.
via CNBC:
- It will only take another two weeks for the shutdown to cost the economy more than $6 billion, according to S&P Global Ratings.
- The partial government shutdown enters its 21st day Friday, tying the record for longest lapse in federal funding.
If the government shutdown lasts another two weeks, the total cost to the U.S. economy would exceed the price of building the proposed border wall.
According to an estimate by S&P Global Ratings, it will only take another two weeks to cost the economy more than $6 billion, exceeding the $5.7 billion that President Donald Trump demanded to fund his proposed border wall. The U.S. economy will have lost $3.6 billion by Friday, according to S&P.
“We estimated that this shutdown could shave approximately $1.2 billion off real GDP in the quarter for each week that part of the government is closed. That may seem like pennies for the world’s biggest economy, but it means a lot to those workers trying to cover their household costs without their paychecks,” Beth Ann Bovino, S&P’s chief U.S. economist, said in a note on Friday.