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swag

(26,480 posts)
Fri Jan 11, 2019, 02:48 PM Jan 2019

If the shutdown lasts two more weeks, the cost to the economy will exceed price of Trump's wall

https://www.cnbc.com/2019/01/11/shutdown-cou-mean-2-billion-less-consumer-spending-a-week-hitting-these-retailers-the-most.html


If the government shutdown lasts another two weeks, the total cost to the U.S. economy would exceed the price of building the proposed border wall.

According to an estimate by S&P Global Ratings, it will only take another two weeks to cost the economy more than $6 billion, exceeding the $5.7 billion that President Donald Trump demanded to fund his proposed border wall. The U.S. economy will have lost $3.6 billion by Friday, according to S&P.

"We estimated that this shutdown could shave approximately $1.2 billion off real GDP in the quarter for each week that part of the government is closed. That may seem like pennies for the world's biggest economy, but it means a lot to those workers trying to cover their household costs without their paychecks," Beth Ann Bovino, S&P's chief U.S. economist, said in a note on Friday.

. . .

J.P. Morgan economists have already cut their first-quarter growth forecast by a quarter point to 2 percent because of the shutdown. Bank of America Merrill Lynch economists shaved 0.1 percentage point from fourth-quarter growth, bringing that forecast to 2.8 percent, due to the shutdown.
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If the shutdown lasts two more weeks, the cost to the economy will exceed price of Trump's wall (Original Post) swag Jan 2019 OP
well there you go, then he can just "fund it from the shutdown savings" by his logic anarch Jan 2019 #1
I couldn't have said it any better. Thank you for expressing the current situation so precisely. politicaljunkie41910 Jan 2019 #6
and it's effect on the fed workers and support industries will get so much worse. nt Javaman Jan 2019 #2
The last shut down Wellstone ruled Jan 2019 #3
Are Trump,his gang,and Putin short selling US ? delisen Jan 2019 #4
It will cost what Trump ASKED for for the wall. Not the total cost of the wall. TCJ70 Jan 2019 #5
Thank you! Caliman73 Jan 2019 #7

anarch

(6,535 posts)
1. well there you go, then he can just "fund it from the shutdown savings" by his logic
Fri Jan 11, 2019, 02:53 PM
Jan 2019

This is the most absurd situation I think I've ever encountered. Everyone knows this shutdown is harmful, and in the end useless for anybody, and yet here we are, somehow our broken, fucked up system is unable to cope with a handful of greedy fucks hijacking everything for their own benefit...it's just about the dumbest fucking thing I've ever seen. These Republicans, McConnell chief among them, are jus a bunch of craven assholes who have no business holding the reins of power. These fuckers may finally find out how far you have to push the American people before they won't take any more.

Javaman

(62,442 posts)
2. and it's effect on the fed workers and support industries will get so much worse. nt
Fri Jan 11, 2019, 03:03 PM
Jan 2019

Last edited Fri Jan 11, 2019, 04:00 PM - Edit history (1)

 

Wellstone ruled

(34,661 posts)
3. The last shut down
Fri Jan 11, 2019, 03:05 PM
Jan 2019

carried a 24 billion price tag. This was the agreed upon number posted several months after . This shut down is going to be in the 75 billion neighborhood when all said and done.

delisen

(6,039 posts)
4. Are Trump,his gang,and Putin short selling US ?
Fri Jan 11, 2019, 03:13 PM
Jan 2019

A corrupt president,cabinet, and political party are in a position to deliberately drive down markets.

TCJ70

(4,387 posts)
5. It will cost what Trump ASKED for for the wall. Not the total cost of the wall.
Fri Jan 11, 2019, 03:14 PM
Jan 2019

Projections are at least $30 billion for the wall total.

Caliman73

(11,694 posts)
7. Thank you!
Fri Jan 11, 2019, 03:30 PM
Jan 2019

People keep thinking that this is about just the 5.7 billion. That is what Trump is demanding to START the wall. 30 billion is in the lower estimate bracket. It could cost anywhere from 20 billion to 100 billion. Then there is the maintenance which is projected at another 30 billion over the first 7 years.

The stupid wall will be a money suck for a long time, not just a one time 5.7 billion dollar expense.

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