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Trump: Government shutdown a ‘small price to pay’ for border wall

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Trump shutdown
President
Donald Trump on Tuesday continued to push for a government
shutdown to secure funding for a wall he wants to build along the
US-Mexico border.

Brian
Snyder/Reuters


  • President Donald Trump on Tuesday said a government
    shutdown would be a “small price to pay” to secure funding for
    the wall he wants to build along the US-Mexico border.
  • Economists say a shutdown could cause the economy to
    lose up to
    $2 billion per week
    .
  • Government shutdowns have far-reaching consequences
    that affect many aspects of the federal government and
    economy.
  • It’s estimated that the 2013 government shutdown, which
    lasted 16 days, cost the economy somewhere between $2 and $6
    billion.

President Donald Trump on Tuesday said a government shutdown
would be a “small price to pay” to secure funding for the wall he
wants to build along the US-Mexico border, but analysis from
economists shows it could cost the US economy billions of dollars
in a matter of days. 

Trump tweeted that
he didn’t care about the “political ramifications” of a shutdown,
stating, “our immigration laws and border security have been a
complete and total disaster for decades, and there is no way that
the Democrats will allow it to be fixed without a Government
Shutdown.”

The president added, “Border Security is National Security,
and National Security is the long-term viability of our Country.
A Government Shutdown is a very small price to pay for a safe and
Prosperous America!”

Though Trump says a government shutdown would be a “small
price” to pay for a border wall, economists say it could cause
the economy to lose up to
$2 billion per week

Amid January’s three-day government
shutdown, Brookings Institution senior fellow David
Wessel told NPR, “There are all sorts of services that people
can’t get [during a shutdown]. The economists who add this up say
it works out to about $2 billion a week in lost output to the
economy every day the shutdown persists.”

A separate analysis from S&P Global, released in
December 2017, said a shutdown could cost the economy up to

$6.5 billion per week

Government shutdowns have far-reaching consequences that impact
many aspects of the federal government and economy.

It’s estimated that the 2013 government shutdown, which lasted 16
days, resulted in $24
billion
in lost economic output.

The shutdown also cost taxpayers roughly
$2 billion
in lost productivity after the government
retroactively paid furloughed workers, according to a report from
the Office of Management and Budget.

The National Park Service estimated that the 2013 shutdown
resulted in more than $500 million in lost visitor spending
nationwide as national parks were forced to close during the
16-day period.

The 2013 shutdown also disrupted private-sector lending to
individuals and small businesses, while causing small business
contracts with the Department of Defense to drop by roughly
one-third compared to the same period in the year prior. 

To put all of this into perspective, it’s estimated that the wall
Trump wants to build along the US-Mexico border could cost
between
$21 billion to $70 billion
.

If there’s a government shutdown over the wall and Trump secures
funding, it would likely mean a hit to the economy while also
leading taxpayers to cover the cost of lost productivity on top
of the wall.

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