By Sam Stein
WASHINGTON — The federal government shutdown that lasted for 16 days last month is expected to cost the U.S. economy between $2 billion and $6 billion in economic output, according to a report by the Office of Management and Budgetreleased Thursday afternoon.
Those figures, culled from independent forecasters, may be a conservative estimate, the authors note. They found that approximately 120,000 fewer private sector jobs were created during the first two weeks of October because of the dual threats of the shutdown and the standoff over the debt ceiling. Forecasters additionally expect fourth quarter real GDP growth to be 0.2 to 0.6 percent lower than what it could have been had the shutdown and debt ceiling fight not taken place.
- Report says N.O. lost $65 million during government shutdown (wwltv.com)
- Government shutdown by the numbers (abc15.com)
- Just How Much Will the Shutdown Weigh on Latest Jobs Report? (dailyfinance.com)
- Mortgage Rates Rise; Highest Since Shutdown (mortgagelendingstatenisland.com)
- Marc Labonte: The FY2014 Government Shutdown: Economic Effects: Noted (delong.typepad.com)
- Government shutdown obscures economic picture (cbsnews.com)
- VA Chief: Shutdown Could Hit Millions Of Vets (kktv.com)
- Money for nothing: Government shutdown costs $12.5 million per hour (nbcnews.com)