Shutdown Costs US Up to $14 Billion and Slashes GDP Growth, Report Warns

The ongoing federal government shutdown could cost the US between $7 billion and $14 billion, impacting the countrys economic growth as reported by the Congressional Budget Office.

• The Congressional Budget Office estimates the federal government shutdown will reduce the Gross domestic product by one to two percentage points due to decreased demand.
• As the shutdown enters its fourth week, the Democratic Party (United States) faces pressure to negotiate a resolution to mitigate financial losses and economic impacts.
• The nonpartisan report highlights the significant economic ramifications of the shutdown, emphasizing the urgent need for bipartisan solutions to restore government operations.