Most in the United States are aware of the human costs of the partial government shutdown orchestrated by President Donald Trump to force Congress to acquiesce to his demands. Government workers affected by Trump’s shutdown shared stories with the press and on social media.
But one factor fewer people are aware of is the effect of Trump’s shutdown on the United States economy. Standard & Poor’s Global Ratings performed an analysis to determine what that cost is thus far as the GOP supported shutdown hits the 21st day.
Standard & Poor (S&P) puts the current price tag at $3.6 billion.
And the longer the Republican led Senate under Majority Leader Mitch McConnell’s continue to block efforts to reopen the government, the more the economy will lose. S&P stated after the third week the costs will balloon beyond the $1.2 billion it cost during the first three weeks of Trump’s shutdown.
— ABC News (@ABC) January 4, 2019
The direct hit to the economy comes from the loss of productivity from furloughed workers. But indirect losses are significant as well.
Companies, hotels and restaurants around closed or neglected national parks and monuments experience losses. And unlike government employees, contractors doing business with the government laid off staff.
Those private employees are out of work and stand no chance of getting back their lost wages and benefits.
And S&P stated even if furloughed government workers are paid for their lost wages, it will only cause a rise in inflation and not a rebound in the economy. Furloughed workers—unlike those currently working without pay—are not guaranteed payment of lost wages, but some members of Congress called for them to be compensated.
People reacted to the news from S&P.
Wouldn’t it be great if Donald Trump was as passionate about healthcare insurance and infrastructure as he is about his symbolic wall.
— FORTIS (@fortismind) January 4, 2019
Are you for open borders?
— Melvin Doo (@TheDoosterDoo) January 4, 2019
The borders are not open. Don’t believe everything he tells you, oh sweet little naive American.
— viking (@celebrute) January 4, 2019
is Mexico paying for it like he got you folks to believe or are you okay with American taxpayers paying for that bullshit now because that’s what trump makes you feel we should do?
— 💸 (@jonny_boye) January 4, 2019
Democrats are not for illegal immigration. They are for immigration reform, because they aren’t stupid enough to think a wall/fence/artisanal subway sandwich – is enough to keep out people moving across borders. Also, your numbers don’t explain how that figure was calculated.
— Book_Ends (@ThuyReinders) January 4, 2019
Tell Trump we are defunding the wall to recover some of the losses from the #Trumpshutdown . Watch his head explode (followed, immediately, by a series of rage tweets).
— William J. Wylie III (@BillWylie3rd) January 4, 2019
While hardcore Trump supporters blame Democrats for the shutdown, ignoring the President stating he would be proud to shut down the government and would own it and not blame Democrats…
Trump just said of government shutdown over border wall, now in third week: “This is not a fight I wanted. I didn’t want this fight.”
Back in December, Trump said on camera, “I am proud to shut down the government for border security.”
— Philip Rucker (@PhilipRucker) January 9, 2019
Watch how angry he gets. He turns more orange than usual. ‘I am proud to shut down the government…I will take the mantle. I will be the one to shut it down.’ — President Trump. Remember these words. pic.twitter.com/BQTCJcPQee
— Tomthunkit™ (@TomthunkitsMind) January 7, 2019
…they are in a definite minority.