Shutdown 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.

GDP is already poised to be at least one percentage point lower in the fourth ...