Ana Cabrera reports that the Congressional Budget Office is estimating that the U.S. economy lost $8 billion during the government shutdown and also predicts the economic growth will slow as the effects of President Trump’s tax cuts begin to drop off.
Read the full report here.
“Among those who experienced the largest and most direct negative effects are federal workers who faced delayed compensation and private-sector entities that lost business. “Some of those private-sector entities will never recoup that lost income.”
The deficit is also set to hit $897 billion this year and the debt is headed toward the highest level since World War II. The CBO also predicts it will also swell to over $trillion per year starting in the next 3 years.