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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIf the shutdown lasts two more weeks, the cost to the economy will exceed price of Trump's wall
https://www.cnbc.com/2019/01/11/shutdown-cou-mean-2-billion-less-consumer-spending-a-week-hitting-these-retailers-the-most.htmlIf the government shutdown lasts another two weeks, the total cost to the U.S. economy would exceed the price of building the proposed border wall.
According to an estimate by S&P Global Ratings, it will only take another two weeks to cost the economy more than $6 billion, exceeding the $5.7 billion that President Donald Trump demanded to fund his proposed border wall. The U.S. economy will have lost $3.6 billion by Friday, according to S&P.
"We estimated that this shutdown could shave approximately $1.2 billion off real GDP in the quarter for each week that part of the government is closed. That may seem like pennies for the world's biggest economy, but it means a lot to those workers trying to cover their household costs without their paychecks," Beth Ann Bovino, S&P's chief U.S. economist, said in a note on Friday.
. . .
J.P. Morgan economists have already cut their first-quarter growth forecast by a quarter point to 2 percent because of the shutdown. Bank of America Merrill Lynch economists shaved 0.1 percentage point from fourth-quarter growth, bringing that forecast to 2.8 percent, due to the shutdown.
anarch
(6,535 posts)This is the most absurd situation I think I've ever encountered. Everyone knows this shutdown is harmful, and in the end useless for anybody, and yet here we are, somehow our broken, fucked up system is unable to cope with a handful of greedy fucks hijacking everything for their own benefit...it's just about the dumbest fucking thing I've ever seen. These Republicans, McConnell chief among them, are jus a bunch of craven assholes who have no business holding the reins of power. These fuckers may finally find out how far you have to push the American people before they won't take any more.
politicaljunkie41910
(3,335 posts)Javaman
(62,540 posts)Last edited Fri Jan 11, 2019, 04:00 PM - Edit history (1)
Wellstone ruled
(34,661 posts)carried a 24 billion price tag. This was the agreed upon number posted several months after . This shut down is going to be in the 75 billion neighborhood when all said and done.
delisen
(6,050 posts)A corrupt president,cabinet, and political party are in a position to deliberately drive down markets.
TCJ70
(4,387 posts)Projections are at least $30 billion for the wall total.
Caliman73
(11,760 posts)People keep thinking that this is about just the 5.7 billion. That is what Trump is demanding to START the wall. 30 billion is in the lower estimate bracket. It could cost anywhere from 20 billion to 100 billion. Then there is the maintenance which is projected at another 30 billion over the first 7 years.
The stupid wall will be a money suck for a long time, not just a one time 5.7 billion dollar expense.