Jacobs said government shutdowns in 2013 and 2018 "cost our economy billions of dollars each." Independent estimates by government offices and private-sector economic analysts concluded that the 2013 full-government shutdown and the 2018-19 partial shutdown cost the U.S. multiple bil...
To hear Sen. Ted Cruz tell it, he deserves no blame for the 2013 government shutdown that cost the U.S. economy $24 billion … The assertion doesn’t match the historical record … while Cruz’s stance caused dismay and allegations of revisionism, he has always maintained that Dem...
The federal budget for Fiscal year 2018 is $4.094 Trillion. Assuming a 16-day shutdown (using 2013 figures) would “cost” $2.5 billion in productivity. This $2.5 billion “lost” is approximately one half of one percent (0.5%) of federal funding. Even from a relative perspective, the im...
The article discusses remarks made by Marillyn Hewson, Chief Executive Officer (CEO) of aerospace industries firm Lockheed Martin on the negative impact of the U.S. government shutdown of October 2013 and U.S. budget cuts on her company.KowittBethFortune.com...
of furloughed workers in the Internal Revenue Service, with the Office of Management and Budget saying the shutdown cost taxpayers some US$2 billion in lost productivity. National parks alone lost some US$500 million in revenue, as they, too, shut their gates during the 16-day shu...
Government Shutdown Effects on the Economy As government operations slow or stop altogether, the effects may also spread to businesses in theprivate sector. It's possible that the entire economy may lose money as a result of this disruption in government operations. However, the overall cost and...
And that's not all. Here's ABC's look at the costs of the shutdown: - $3.1 billion in lost government services. Although furloughed workers will get their back pay, taxpayers won't see the products. (Source: I.H.S.) - According to the U.S. Travel Association: There has been $...
The five-week partial shutdown cost the economy $11 billion, according to a Congressional Budget Office report. The CBO said most of that would be recovered once the shutdown ended, but estimated a permanent loss of about $3 billion. ...
The federal government shutdown cost the economy $11 billion, according to a new analysis from the nonpartisan Congressional Budget Office. Although most of the damage to the economy will be reversed as federal workers return to their jobs, the CBO estimated $3 billion in economic activity is ...
…It is true that many government services not performed during the government shutdown will never be replaced, as government workers will not all be able to make up the lost productivity. …[but] Because the government workers are being paid for the days they did not work, the cost of go...