According to Washington administration estimates, the partial shutdown of the federal government may cause at least $15 billion in losses to the country’s gross domestic product per week.
These figures are recorded in documents prepared by the White House and planned to be presented to Republican lawmakers. According to the information, “President Donald Trump’s economic advisers warned that a prolonged shutdown could lead to serious economic consequences.”
Calculations show that if the shutdown continues for one month, the number of unemployed could increase by 43,000. In addition, about 1.9 million federal employees are expected to be temporarily furloughed or required to work without pay.
At the same time, it was noted that a one-month closure could reduce consumer spending by up to $30 billion.
It is known that on October 1, at midnight, the U.S. federal government was partially shut down due to a lack of funding. This happened because Republicans and Democrats in Congress failed to reach an agreement on healthcare and other spending items. Both sides accuse each other of artificially causing the shutdown and extending it for political purposes.
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