Government Shutdown Has Already Cost US Economy $18 Billion This Year, CBO Says

The federal government shutdown has already cost the US economy at least $18 billion this year, a figure that “will intensify” in the weeks to come, according to the Congressional Budget Office.

The nonpartisan organization emphasized much of the impact will be temporary, with a short-term boost to economic growth in the first quarter of next year. However, they estimate between $7 billion and $14 billion of the hit to gross domestic product will not be recovered, dependent on the ultimate length of the shutdown.