U.S. government shutdown to be detrimental to U.S. economy

U.S. government shutdown to be detrimental to U.S. economy


The United States is into the second day of
a government shutdown,… with little sign of progress… as Republicans and Democrats
continue to try and stick the blame on the other side. As the bickering goes on,… experts say a
prolonged shutdown could have a detrimental impact on the U.S. economy. Park Soyun reports. The U.S. Senate is trying to find ways to
reach a consensus to bring an end to the government shutdown before economic repercussions start
to bite. A bill to fund the federal government did
not receive the required 60 votes as Republicans did not have sufficient votes to pass the
bill without the Democrats’ support. Senate Democrats have refused to agree on
government funding unless President Trump agrees to deal with legislation to protect
about 700-thousand immigrants who were illegally brought to the country as children. The Republican leader of the Senate expressed
his dissatisfaction over the shutdown. “All of this was totally unnecessary. There is broad consensus, on both sides of
the aisle, that DACA and other issues related to illegal immigration require a compromise
solution. Almost everybody here – Democrat and Republican
– believe he need to get to a solution on the DACA issue and related immigration matters. Bipartisan, bicameral negotiations have been
underway for months.” So far there has been minimal economic impact
to the government shutdown, as the early days included the weekend. However, if the impasse drags on the shutdown
could hurt the U.S. economy. White House budget director Mick Mulvaney
told Fox News on Sunday that the government shutdown could persist for weeks. The longer the shutdown goes on, the stronger
the economic impact, increasing the possibility that the U.S. economy’s recent growth spurt
could stall. The government would delay issuing federal
checks slowing the work process, as well as harming consumer and business optimism. The last government shutdown in 2013 lasted
16 days and cost 20 billion U.S. dollars in output and cut half-a-percent off annual economic
growth. The Congressional Research Service also estimates
that government shutdowns cost the U.S. economy at least 0.1 percentage point of growth per
week. Economists say the shutdown would not only
affect Washington, but will also have ripple effects across the U.S.
Park Soyun, Arirang News.

2 comments

  1. All this for illegal imigrants ???????. What about America? What about your own families or did Dems spawn this mess themselves ? There's something behind the Democrats.bullshit this time it's unforgivable

  2. Did this nut case really say we would trade the wall for DACA ? We got so many homeless hungry fuck that send the criminals back to where they belong or split them up between the Dems let them feed house and defend them . Go oh take em in to your homes

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