With the President threatening another Trump shutdown, we wanted to draw your attention to a headline in today’s Wall Street Journal: Most Economists Say Fresh Government Shutdown Would Hurt U.S. Growth.
In short, shutdowns are bad for the economy, which should come as a surprise only if you’ve been living under a rock for the last month, in which case we politely remind you that the Trump shutdown cost the economy $11 billion.
“Economists say a fresh government shutdown would take a toll on U.S. economic growth as well as business and consumer sentiment, as a deadline to reach a deal over border-wall funding approaches next week.”
“‘A second shutdown would severely erode consumer and business confidence,’ said Thomas Kevin Swift, chief economist at the American Chemistry Council, in remarks echoed by other forecasters…The impact on confidence ‘would be much bigger than direct impact of government spending and services,’ said economist Robert Fry of Robert Fry Economics LLC.”
“‘A second shutdown would severely erode consumer and business confidence,’ said Thomas Kevin Swift, chief economist at the American Chemistry Council, in remarks echoed by other forecasters…The impact on confidence ‘would be much bigger than direct impact of government spending and services,’ said economist Robert Fry of Robert Fry Economics LLC.”
In short, shutdowns are bad for the economy, which should come as a surprise only if you’ve been living under a rock for the last month, in which case we politely remind you that the Trump shutdown cost the economy $11 billion.
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