Trump Regime

Trump’s Shutdown Cost More Than Trump’s Wall

JM Ashby
Written by JM Ashby

The longest government shutdown in our history has come to an end and, according to Standards and Poor's Global Ratings, economic activity dropped by at least $6 billion while the federal government was frozen.

From Reuters:

(Reuters) - The U.S. economy lost at least $6 billion during the partial shutdown of the federal government due to lost productivity from furloughed workers and economic activity lost to outside business, S&P Global Ratings said on Friday. [...]

“Although this shutdown has ended, little agreement on Capitol Hill will likely weigh on business confidence and financial market sentiments,” S&P said in a news release.

As you know, Trump demanded at least $5.7 billion for his fantasy border wall and he now has nothing to show for it.

We're more or less in the same position today as we would have been had former Speaker Paul Ryan simply allowed a vote on a continuing resolution to keep the government running before the new year. The Republican-controlled Senate passed a funding bill to keep the government running by a simple voice vote, but Ryan refused to hold a vote because Trump said he wouldn't sign it. It was Ryan's last act in Congress.

Senate Majority Leader Mitch McConnell assumed the role of Paul Ryan in recent weeks by refusing to hold a vote any funding bills unless they included money for Trump's wall.

The fact that the Senate passed a funding bill immediately after Trump waved a white flag demonstrates that McConnell could have held a vote and easily passed a funding bill at any time. He didn't need Trump's permission.

A separate report from the Congressional Budget Office (CBO) estimates that the economy lost at least $11 billion in economic activity.

The 35-day government shutdown wiped out $11 billion in economic activity, most of which will be recouped, but the episode will noticeably reduce economic growth in the first quarter, the Congressional Budget Office said Monday.

The shutdown reduced the nation’s gross domestic product by $3 billion in the fourth quarter of 2018 and $8 billion in the current quarter, CBO estimates. As a result, inflation-adjusted GDP growth will be an annualized 0.2 percentage points lower in the fourth quarter and 0.4 percentage points lower in the first quarter, CBO said.

  • Christopher Foxx

    The fact that the Senate passed a funding bill immediately after Trump waved a white flag demonstrates that McConnell could have held a vote and easily passed a funding bill at any time. He didn’t need Trump’s permission.

    That fact the Congress is a seperate and equal branch of gov’t demonstrates McConnell could have held a vote at any time. That he didn’t demonstrates what an obstructionist wimp McConnell is.

  • fry1laurie

    Goddamned spendthrift Democrats! /s

  • Georgie

    Welcome back.

  • muselet

    Donald Trump doesn’t know how to negotiate.

    Donald Trump doesn’t know how to persuade.

    Donald Turmp doesn’t know how to compromise.

    Donald Trump doesn’t know how to ignore unhelpful voices, like those of Ann Coulter, the Three Dolts on a Divan (Charlie Pierce’a nickname for the presenters on “Fox & Friends”) or the loons in his own administration.

    Worse, Donald Trump doesn’t know that he doesn’t know these things (and more). He’s a bully who has surrounded himself with toadies and lickspittles his entire life. The real world—or as real as the world of Washington politics is—is a terrible shock to him. Everyone in DC has an agenda, everyone else in DC is good at negotiating and just plain arm-twisting, nobody in DC has time for a bumbling amateur. Trump is out of his depth, and the tactics he learned as a barely-successful real estate developer (make unreasonable demands, never concede anything, stiff the contractors, that sort of thing) simply don’t work in politics.

    All of which would make for a vaguely amusing sideshow attraction if being president didn’t mean Trump has the ability to hack great lumps out of the economy out of pique.

    And in three weeks, we get to relive the fun of the past month all over again. Vladimir Putin must be very happy right now.

    Also, welcome back, Ashby.

    –alopecia

  • gescove

    Welcome back. It has been gratifying to watch Speaker Pelosi smack down Trumpov.

  • Username1016

    Welcome back. How are you doing?

    Didn’t Drumpf say he was gonna fund the wall out of the savings from the shutdown? Which of course he can’t do, but he knows nothing…

  • katanahamon

    Now Rump says he won’t or “is doubtful” he will accept any congressional deal on the border. ? Umm..that’s what dictators say. He can veto, but if there’s a veto proof majority, tough cheese. Meanwhile, he’s relaxed sanctions on Deripaska, sp? and yet another close associate is indicted. How ridiculous is this going to get?

  • mnpollio

    Ahhh, all this winning! The stench of victory just seeps out of the pores of Trump and the Republicans.