Future shutdowns should be banned

Opinion

January 29, 2019 - 10:25 AM

At a minimum, the recent government shutdown cost the U.S. government an estimated $3 billion, according to the nonpartisan Congressional Budget Office.

That figure represents the loss of economic activity from the 800,000 furloughed employees as well as a drop in government purchases of goods and services, never to be made up.

CBO officials say the $3 billion could be just the tip of the iceberg. With every day of the five-week shutdown — the most protracted in U.S. history — came postponed hiring and investment decisions by corporations and industries. Because of the shutdown, first-quarter earnings are expected to be down by $8 billion.

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