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