The U.S. government has been partially shut down for 31 days as of Nov. 1 — the second-longest shutdown in modern history.
A fresh nonpartisan analysis by the U.S. Congressional Budget Office (CBO) warns that every additional month of standoff between lawmakers could slice up to $14 billion from the country’s gross domestic product, leaving a lasting dent on growth.
From furloughed federal workers putting their plans on hold to contractors and small businesses feeling the pinch, the shutdown’s ripple effect is spreading beyond Washington. Essential services are slowing, and consumer confidence is wobbling as the standoff drags on.
While leaders debate budget priorities, experts caution that the clock is running on efforts to contain the damage. If lawmakers fail to reach an agreement soon, the U.S. economy could face a recovery setback that extends far past the shutdown’s end.
As the standoff stretches into a second month, all eyes are on Capitol Hill. The longer uncertainty lingers, the greater the risk that this slowdown will cast a shadow over America’s growth for years to come.
Reference(s):
cgtn.com
