Government shutdown could lead to $14B in lost GDP, CBO reports

The ongoing federal shutdown could cost the U.S. economy between $7 billion and $14 billion, according to a new report from the nonpartisan Congressional Budget Office.

The report, prepared in response to a request from House Budget Chair Jodey Arrington (R-Texas), estimated the economic impact of the shutdown if it lasts four weeks — a mark hit Wednesday — six weeks, or two months.

Under all three scenarios, the CBO expects economic growth to be back on track after 2026, but some of the real gross domestic product loss resulting from furloughs of federal workers will not be recovered. That permanent loss could be anywhere from $7 billion, if…

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