GOP braces for internal battle royal over government spendingįox announces details for DeSantis, Newsom debate Happy birthday, Adam Smith: The invisible hand just slapped Disneyĥ things to know about the riots in Dublin Missiles fired toward US Navy warship during distress response in Middle. Melania Trump expected to join other former first ladies at Rosalynn Carter. Monica Lewinsky calls for constitutional ban on presidential self-pardons White House pans Fox News reporter for ‘astroturfing’ on Biden’s age Speaker Johnson says he’s ‘confident’ Ukraine, Israel aid will pass House House Intelligence chair praises release of Jan. Senate rankings: 5 seats most likely to flip Judge blocks Trump effort to subpoena Jan. Johnson speaks to Santos ‘about his options’ amid threatened expulsion Trump Organization no longer prepares financial statements at heart of. The CBO said the shutdown “dampened economic activity” primarily due to the loss of federal workers’ “contribution to GDP, the delay in federal spending on goods and services” and the reduction in aggregate demand, which the office noted had an impact on private-sector activity.Ī Senate report estimated taxpayers lost the equivalent of more than 25,300 years in productivity of furloughed workers in fiscal 2019. It marked the longest shutdown in modern history, lasting more than a month and leading to hundreds of thousands of federal workers being furloughed or working without pay.Īt the time, the Congressional Budget Office (CBO) estimated the gross domestic product (GDP) in the fourth quarter of 2018 was reduced by $3 billion as “a result of reduced economic activity,” when accounting for inflation, with further losses in the subsequent quarter. The last partial government shutdown was triggered in late 2018 and ended in early 2019 amid a showdown between Trump administration and a Democratic-led House over border wall funding. But both chambers are still a ways from reaching a compromise, with little time left to prevent what could be the government’s first shutdown in years.
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