Trump’s Government Shutdown Cost $11 Billion, Gained $0 In Wall Money
The nonpartisan Congressional Budget Office(CBO) has released a report that found President Donald Trump‘s 35-day government shutdown cost the economy $11 billion: $3 billion in the fourth quarter of 2018 and $8 billion in the first quarter of 2019.
The CBO report says that some of the money will be recouped now that the government is opened, but “estimates that about $3 billion will not be.”
The CBO report also notes that there may be more damage from Trump’s government shutdown:
For example, some businesses could not obtain federal permits and certifications, and others faced reduced access to loans provided by the federal government. Such factors were probably beginning to lead firms to postpone investment and hiring decisions.
In addition, risks to the economy were becoming increasingly significant as the shutdown continued. Although their precise effects on economic output are uncertain, the negative effects of such factors would have become increasingly important if the partial shutdown had extended beyond five weeks.