Send
Print
The government shutdown in the US has now lasted five weeks, starting on October 1. The CBO predicts that by the end of 2026, the shutdown will lead to economic losses of at least $7 billion, mainly because federal workers are being placed on unpaid leave.
Phillip Swagel, head of the CBO, estimates that a six-week shutdown would cause economic damage of $11 billion, while an eight-week shutdown could cost the economy $14 billion.
On Wednesday, North Carolina Republican Senator Thom Tillis stated that there are no indications of progress in efforts to reopen the government. Meanwhile, Democratic Senator from Oregon Ron Wyden criticized the White House for not engaging in the negotiation process.
source: cnbc.com
Phillip Swagel, head of the CBO, estimates that a six-week shutdown would cause economic damage of $11 billion, while an eight-week shutdown could cost the economy $14 billion.
On Wednesday, North Carolina Republican Senator Thom Tillis stated that there are no indications of progress in efforts to reopen the government. Meanwhile, Democratic Senator from Oregon Ron Wyden criticized the White House for not engaging in the negotiation process.
source: cnbc.com
