Press Release (ePRNews.com) - TAIPEI CITY, Taiwan - Jan 23, 2019 - US President Donald Trump’s demands for a border wall and Congressional Democrats’ refusal to comply have led to the longest lasting US government shutdown in history. The partial shutdown, now in effect for 31 days, is having a decidedly negative impact on the US economy and hurting the jobs of many Americans.
Analysts at Ward Henderson Management say that if the shutdown lasts until the end of this month, it could cost the US economy up to $8.7 billion and as much as 0.2 percent of the first-quarter expansion.
Combined with the fallout of Trump’s trade policies, the government shutdown is setting the US economy on a rocky course to begin 2019.
Ward Henderson Management analysts say that as many as 800,000 federal workers have gone without wages since the shutdown began and that the ripple effect of this is hurting the budgets of many American households.
Reduced household spending and uncertainty regarding when the shutdown will end is already hurting businesses located in areas where large numbers of federal workers reside as people spend less on luxury purchases.
Analysts at Ward Henderson Management say that if the US government shutdown continues beyond the end of this month, it could harm consumer confidence; a problem as consumer spending is the main driver of the US economy.
Also impacted by the government standstill are normal federal operations such as the approvals of initial public offerings and small business capital lending.
Ward Henderson Management