Though US President Donald Trump has suspended the longest-ever shutdown in the country’s history after 35 days, its’s impact on its economy causing much more worry. Trump’s beloved border wall fever dream said to be costs the American economy hundreds of millions of dollars more than the proposed budget for his “beautiful steel barrier” of bigotry.
According to the estimation prepared by S&B Global Ratings it costs the economy at lest $ 6 billion, due to “lost productivity from furloughed workers and economic activity lost to outside business.” Adjusted for inflation, USA Today reports that it also the most expensive one since 1981.
That number is likely to grow, of course, as the ripple effects of the shutdown aren’t immediately brought to a halt by the super-temporary deal struck on day 35 of the presidential temper tantrum. Further, the chaos of the short-term deal is hardly going to immediately reinstate trust in American prosperity among the moneymakers of the world.
The S&P estimate comes in the wake of Steve Mnuchin’s refusal to appear at a House Ways and Means Committee hearing, when the ethics-bereft Treasury Secretary was asked to discuss the economic impact of the shutdown, which was now know was more devasting than expected. The meeting was ultimately canceled by Committee Chairman Richard Nea (D-MA)