US economy lost $6bn during shutdown over Trump's wall: Report
The 35-day-long US government shutdown over funding President Donald Trump's border wall cost the American economy $6 billion, a new report has revealed.
Trump reached a deal with congressional Democrats on Friday to terminate the partial government shutdown for three weeks without getting the $5.7 billion he had requested for building the US-Mexico border barrier.
The cost of the shutdown, however, was no petty cash and exceeded what president Trump had requested for the construction of the infamous wall by $300 million, according to S&P Global Ratings.
Less productivity from furloughed federal workers and the economic anxiety caused by the shutdown contributed to the enormous loss.
Latest Polls have indicated that the majority of the American voters blamed President Trump for the government shutdown.
The agreement he reached with the House did not include a budget for the wall.
Trump has warned that he would use his emergency powers to fund the wall with the Pentagon's budget if Democrats refuse to agree with his request before the end of the temporary shutdown deal.
The uncertainty surrounding the wall would hurt the economy even more, S&P warned.
“Although this shutdown has ended, little agreement on Capitol Hill will likely weigh on business confidence and financial market sentiments,” the S&P said in a news release.
The stalemate took a heavy toll on 9 federal agencies and 800,000 federal workers who were either forced to work without payment or were furloughed.
The shutdown also affected federal aviation workers which in turn resulted in breakdown in three international airports in the US on Friday.
There were delayed or grounded planes in Newark International Airport, LaGuardia International Airport, and Philadelphia International Airport.
The deal between Trump and the Congress was struck after the Senate held two votes in order to reopen the government on Thursday. The Democrats introduced one vote, while President Trump backed the other. Neither of the votes received consensus to advance through.
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