Particle.news
Download on the App Store

Month-Long U.S. Shutdown Becomes Second-Longest as Economic Toll Mounts

Economists warn the month-long lapse is causing permanent losses.

Overview

  • The CBO estimates at least $7 billion in output has been permanently lost, with losses projected to reach $11 billion at six weeks and $14 billion at eight weeks if the shutdown persists.
  • Roughly 670,000 federal employees are furloughed without pay and about 730,000 are required to work without pay, straining household finances and local economies.
  • About 65,500 small government contractors face nearly $12 billion in delayed or at-risk payments this month, according to a U.S. Chamber of Commerce assessment.
  • With open enrollment starting, failure to extend enhanced ACA subsidies could raise average marketplace premiums by 26% for 22 million enrollees, and more than 65,000 children risk losing Head Start access across 41 states and Puerto Rico.
  • The shutdown persists after a House stopgap through Nov. 21 stalled in the Senate, and President Trump said a $130 million private donation has sustained military pay even as no breakthrough has emerged.