Federal Relations

January 28, 2019

CBO: Shutdown Cost $11B

The nonpartisan Congressional Budget Office released a report today that the recent 35 day, 5 week government shutdown cost the U.S. economy $11 billion. Other take aways:

  • It permanently lost $3 billion in economic activity for the 4th quarter.
  • The shutdown¬†delayed approximately $18 billion in federal discretionary spending for compensation and purchases of goods and services and suspended some federal services.
  • The level of real GDP in the first quarter of 2019 is expected to be reduced by 0.2 percent, or $8 billion less than it would have been if the government had been open.

Read the report here.