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If the shutdown lasts two more weeks, the cost to the economy will exceed price of Trump's wall


Added 01-11-19 01:01:01pm EST - “It will only take another two weeks to cost the economy more than the $5.7 billion Trump demanded for the border wall.” - Cnbc.com

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Posted By TheNewsCommenter: From Cnbc.com: “If the shutdown lasts two more weeks, the cost to the economy will exceed price of Trump's wall”. Below is an excerpt from the article.

If the government shutdown lasts another two weeks, the total cost to the U.S. economy would exceed the price of building the proposed border wall.

According to an estimate by S&P Global Ratings, it will only take another two weeks to cost the economy more than $6 billion, exceeding the $5.7 billion that President Donald Trump demanded to fund his proposed border wall. The U.S. economy will have lost $3.6 billion by Friday, according to S&P.

"We estimated that this shutdown could shave approximately $1.2 billion off real GDP in the quarter for each week that part of the government is closed. That may seem like pennies for the world's biggest economy, but it means a lot to those workers trying to cover their household costs without their paychecks," Beth Ann Bovino, S&P's chief U.S. economist, said in a note on Friday.

The firm came up with these figures by looking at costs related to the shutdown including lost productivity by furloughed workers and a decrease in sales for contractors to the government.

The partial government shutdown entered its 21st day Friday, tying the record for longest lapse in federal funding. Lawmakers have failed to fund about a quarter of the government, as President Donald Trump demands money for his proposed border wall. The president has threatened to veto legislation passed by the Democrat-controlled House to reopen the government temporarily, and that has deterred the GOP-controlled Senate from passing it.

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