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US economy may lose up to $14 billion due to government shutdown standoff, CBO warns

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1 day ago

FIRST ON FOX: The U.S. economy could lose up to $14 billion due to the ongoing government shutdown, a new analysis said Wednesday.The nonpartisan Congressional Budget Office (CBO) released new projections that show the shutdown is likely to have a temporary negative impact on the U.S. economy, though gross domestic product (GDP) — adjusted to remove the effect of inflation — is expected to take a modest permanent hit.It is Day 29 of the government shutdown, with Democrats and Republicans appearing no closer to a deal on ending the standoff than when it began on Oct. 1.House Budget Committee Ch...

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