Shutdown costs pegged at $3 billion as United States government reopens

Government shutdown projected to cost American economy $3 billion

The partial shutdown of the federal government cost the U.S. economy $11 billion, according to analysis from the Congressional Budget Office (CBO), nearly double the $5.6 billion President Trump had requested for a border wall.

The 35-day partial government shutdown cost the US economy $11 billion, and some $3 billion of that total will never be recovered, the Congressional Budget Office said Monday.

"Although most of the real GDP lost during the fourth quarter of 2018 and the first quarter of 2019 will eventually be recovered, CBO estimates that about $3 billion will not be", CBO director Keith Hall said in a Monday statement.

The CBO said the cost of the shutdown will make the US economy 0.02 percent smaller than expected in 2019.

While much of that loss will be recovered, the CBO estimates that $3 billion is permanently lost.

Trump said he would be willing to shut down the government again if lawmakers don't reach an acceptable deal, but on Sunday expressed skepticism that such an agreement could be reached.

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The stand-off forced about 800,000 federal workers to temporarily go without pay and prompted cutbacks in most major departments, including the State Department, Treasury Department and Department of Homeland Security.

Republican Trump had demanded that legislation to fund the government contain $5.7 billion for his long-promised wall along the US-Mexico border. Opposition Democrats, however, have refused his demand for border wall money while saying they are willing to offer more funding for other security measures, including tightened controls at ports of entry, more border agents and increased use of technology to monitor illegal border crossings. It remained to be seen how lawmakers address border security before the February 15 deadline while avoiding another closure.

The CBO's analysis does not include some indirect effects of the shutdown, such as the halt in some federal permits and reduced access to loans. As a result, the annualized rate of fourth-quarter gross domestic product growth is expected to be 0.2 percentage point lower than anticipated, while expansion in the first three months of the year will be 0.4 percentage point weaker, it said.

"Some of those private-sector entities will never recoup that lost income", it added.

While some said Trump caved by reopening the government with no border wall funding (conservative commentator Ann Coulter described Trump as a "wimp"), he insisted that the deal was "in no way a concession".

The five-week shutdown delayed approximately $18bn in federal discretionary spending for compensation and purchases of goods and services and suspended some federal services.

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