The longest partial government shutdown in U.S. history has cost the economy $3 billion—about half the amount President Donald Trump requested for his long-promised border wall, according to the Congressional Budget Office (CBO).
The five-week shutdown also delayed about $18 billion in federal discretionary spending. The effects of the shutdown are likely to spill over into the rest of the first quarter of 2019. The CBO estimates that the level of gross domestic product in the first quarter will be $8 billion lower than it would have been without the shutdown.
“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,” Keith Hall, the office’s director, said in a statement on Monday.
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