How much did the US government shutdown cost?
Asked 2 hours ago
Answer
The U.S. government shutdown cost the economy an estimated $11 billion, according to the Congressional Budget Office. This figure, while a small fraction of the nation's GDP, caused significant hardship for federal workers, contractors, and several economic sectors. Some losses, particularly for contractors and in travel and hospitality, are unrecoverable. The full impact may take months to assess as economic data becomes available.
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How much did the government shutdown cost?
CBS America ยท Just In
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Just In
- Union leader described severe hardships faced by 820,000 federal workers during the shutdown, including food insecurity. 6s
- The Congressional Budget Office estimated the shutdown cost the U.S. economy $11 billion. 1m 50s
- Travel, hospitality, and government contractors were among the hardest-hit sectors, with some losses unrecoverable. 2m 12s
- Government contractors will not receive back pay for the shutdown period, unlike federal employees. 2m 23s
- The Federal Reserve will meet in December without a complete picture of the shutdown's impact, raising questions about future interest rate decisions. 3m 27s
