Government Shutdown Cost Economy Billions
The government has been fully up and running for nearly a week. But, according to the Congressional Budget Office, the economy could experience long last effects from the five week shutdown. The economy lost nearly $11 billion during the partial government shutdown. Experts from the Congressional Budget Office expects eight billion of those dollars to be recovered now that people are back working.
The shutdown also delayed $18 billion in federal spending. This huge loss is due to the loss of productivity from furloughed government workers as well as lost business for government contractors. Congress passed a temporary solution to keep government open until February 15th.