CBO: Shutdown cost economy $3 billion

[mystery-ak]

CBO: Shutdown cost economy $3 billion
By Niv Elis - 01/28/19 10:00 AM EST

The five-week partial shutdown that ended Friday cost the U.S. economy $3 billion, according to a new report by the nonpartisan Congressional Budget Office.
 
The economy lost $11 billion during the course of the shutdown, which began Dec. 22, but some $8 billion of that will be recovered as the government reopens and workers receive back pay.
 
“Although most of the real GDP lost during the fourth quarter of 2018 and the first quarter of 2019 will eventually be recovered, CBO estimates that about $3 billion will not be,” CBO director Keith Hall said Monday in a prepared statement.

All in all, that amounts to a 0.2 percentage point drop in economic growth in the fourth quarter of 2018, followed by a 0.4 percentage point decline in growth during the first quarter of 2019.

more
https://thehill.com/policy/finance/427230-cbo-shutdown-will-cost-economy-3-billion
 

[truth_seeker]

As a corporate budgeting director, I had a cutting philosophy as follows:

"Cut very big. Cut even when the departments claim they will bee unable to perform their basic missions."

""Only respond to observed performance results."

"Reward cutting; punish resisting cuts."

[TomSea]

I guess, if we believe polls, the shutdown may have made Trump look bad. I don't care. I am supporting him nonetheless on this.