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The U.S. Government Shutdown has already caused at least $18 billion in economic losses this year
BlockBeats News, October 30th, according to a report from the US Congressional Budget Office, the government shutdown has already caused at least $18 billion in losses to the US economy this year, a figure that is expected to "worsen in the coming weeks." According to this Congressional Budget Office report released on Wednesday, due to the impact of the government shutdown, fourth-quarter GDP is already expected to decrease by at least one percentage point.
If the shutdown were to last for six weeks, extending into mid-November, the agency projects that actual GDP growth in the fourth quarter will decrease by 1.5 percentage points, equivalent to a $28 billion loss. Furthermore, if the shutdown were to extend to around eight weeks (roughly around Thanksgiving), the impact on actual GDP would expand to two percentage points, amounting to $39 billion.
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