The Chinese concern trolls are hoping we’ll forget about that pesky wall too.
I hear ya!!
Posted on 01/10/2019 7:13:53 PM PST by SeekAndFind
This story is published in a content partnership with POLITICO. It was originally reported by Victoria Guida on politico.com on January 9, 2019.
As US federal workers face the prospect of missed paycheques during the partial government shutdown, their financial reality is rippling out into the broader economy.
The roughly 800,000 government employees who are either furloughed or working without pay will be forced to start slashing their consumer spending when paycheques don’t appear this week.
Private-sector contractors and other workers tied to the government are already seeing damage from lost business.
And a hit to the nation’s financial standing is on the horizon with a warning from Fitch Ratings on Wednesday about downgrading the government’s credit rating if the shutdown persists.
Estimates from President Donald Trump’s chief economist peg the cost to the overall US economy at about US$1.2 billion for each week the shutdown persists.
While that’s just 0.05 percentage points off the GDP growth rate, it could be among the factors complicating the administration’s aspiration of reaching sustained 3 per cent growth.
The shutdown – in its 20th day Thursday – could also cost the US government more than a billion dollars in lost productivity for 350,000 workers who are forced to stay home.
The government will likely give back pay to furloughed workers in addition to those forced to perform their duties without pay during the partial shutdown.
The Obama administration estimated that the payroll cost alone for the 16-day government shutdown in October 2013 cost US$2.5 billion, not counting lost revenue from government entities like national parks that were unable to collect fees.
(Excerpt) Read more at scmp.com ...
They’ll get back every cent once the shut down is over.
China?
Who cares?
The Great Wall of China... 😀
Free vacations!
What, they don’t have credit cards? How many federal workers don’t have one? No credit union loans? No life isurance policies to borrow against? No savings? No home equity?
You gotta be kidding me!
hey seekandfind: whatabunchacrap
Communist South China fake news says Government shutdown COSTS $1 billion per week.
The people PROFIT by $billions per week.
The net benefit is $billions, when you are not Communist.
Like I tell people who complain about the costs associated with having an extremely hot trophy wife: Some things just cost a lot of money.
More likely the Democrats are pushing in the halls..
It is consumption deferred, not consumption destroyed.
With NO Government Shutdown: US$12 billion a week
I hear ya!!
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