Here’s how much the government shutdown cost, according to S&P

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The longest government shutdown in history finally came to an end on Friday, when President Trump and congressional leaders passed a temporary continuing resolution to fund the government for the next three weeks.

According to an estimate on Friday from S&P Global Ratings, the cost of the 35-day shutdown was close to $6 billion, as first reported by Reuters. That’s $30 million more than the $5.7 billion Trump demanded for a wall along the U.S.-Mexico border.

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“While some indirect costs may be regained once the government reopens, direct costs from the U.S. government closing shop are lost forever,” Beth Ann Bovino, a chief economist for S&P, wrote in a previous note about the shutdown cost. “Economic activity from lost productivity from furloughed government employees won’t be recovered.”Bovino had initially projected the economy would lose about $5.7 billion by Friday, with an average weekly cost of $1.2 billion that she said would rise the longer the shutdown dragged on.

But on Friday, after a staff shortage caused by the shutdown caused significant delays at major northeastern airports, Trump backed a short-term deal to end the funding lapse for three weeks.

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Because the continuing resolution did not contain funding for the border wall, Trump has said he’s giving Congress three weeks to hash out a compromise on the wall.

Source: Fox Business

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