Congressional Budget Office: Shutdown Cost U.S. Economy $3 Billion In Permanent Losses

U.S. ECONOMY LOST BILLIONS DUE TO GOVERNMENT SHUTDOWN

(CNN) – It’s over for now.

But experts say there could be a lasting impact from the longest government shutdown in U.S. history.

According to the Congressional Budget Office, the U.S. economy lost about $11-billion during the five week shutdown.

CBO expects about $8-billion to be recovered as people get back to work.

The agency reports that the loss is mainly due to lost productivity from furloughed government workers, and lost business for government contractors.

The CBO also estimates the shutdown delayed $18 billion dollars in federal spending.

Categories: US News