Shutdown’s economic damage: $1 billion a week | POLITICO


Private-sector contractors and other workers tied to the government are already seeing damage from lost business.

And a hit to the nation’s financial standing is on the horizon with a warning from Fitch Ratings on Wednesday about downgrading the government’s credit rating if the shutdown persists.

Estimates from President Donald Trump’s chief economist peg the cost to the overall U.S. economy at about $1.2 billion for each week the shutdown persists.

While that’s just 0.05 percentage points off the GDP growth rate, it could be among the factors complicating the administration’s aspiration of reaching sustained 3 percent growth.

Source: Shutdown’s economic damage: $1 billion a week – POLITICO

READ  Distance Makes Trump's Heart Grow Fonder for the TPP? | Cato @ Liberty

Leave a Reply

Your email address will not be published. Required fields are marked *