USA government reopens as clock ticks down on funding-talks deadline

Vagner Reis Reis  EyeEm  EyeEm

The partial shutdown of the government reduced federal spending by about $3 billion and cut into overall US economic growth, according to a report released Monday by the nonpartisan Congressional Budget Office.

The U.S. economy will likely never recover $3 billion lost during the five-week partial government shutdown, according to a report released by the Congressional Budget Office on Monday.

According to the CBO's report, the GDP was down by a total of $11 billion due to the shutdown but was expected to recover $8 billion later in the year - meaning $3 billion would never be recovered.

A partial USA government shutdown ended Friday, its 35th day. Among those who experienced the largest and most direct negative effects are federal workers who faced delayed compensation and private-sector entities that lost business.

"The shutdown dampened economic activity mainly because of the loss of furloughed federal workers' contribution to GDP, the delay in federal spending on goods and services, and the reduction in aggregate demand (which thereby dampened private-sector activity)", the office said in a report.

When the Congress completes its bipartisan, bicameral work to fund government, the President should swiftly sign that legislation to avert another shutdown and restore certainty to our economy and the lives of the American people.

Overall, CBO predicts that just $3 billion in lost gross domestic product will be permanently lost, a modest figure in a $20 trillion-plus economy.

Trump said Sunday he thinks there is less than a 50 percent chance the congressional border security negotiators will be able to reach an agreement he would accept by their self-imposed Februay 15 deadline.

Trump had demanded $5.7 billion toward building his long-promised wall along the U.S. -Mexico border, which he says is necessary to stop illegal immigration, human trafficking and drug smuggling.

Democrats, eager to capitalize on their political victory, oppose any border wall money, but say they back additional funding for border security measure such as increased technology and Border Patrol agents.

"Underlying those effects on the overall economy are much more significant effects on individual businesses and workers", the report said. The President temporarily relented on Friday, agreeing to a plan that funds the government through February 15.

The CBO's analysis does not include some indirect effects of the shutdown, such as the halt in some federal permits and reduced access to loans.

Trump said he would be willing to shut down the government again if lawmakers do not reach a deal he finds acceptable on border security.

Related news:

Hot News

isis-killer-beheading-video-story-top Mueller's Trump-Russia probe close to completion
Jan 29, 2019 - 06:41
He made the comments at a press conference for the unveiling of unrelated charges against the Chinese company Huawei. At his Senate confirmation hearing this month , Barr - first appointed to the post by President George H.W.

isis-killer-beheading-video-story-top Steve Martin plays Roger Stone on 'Saturday Night Live'
Jan 29, 2019 - 06:41
The indictment states that Stone received a text message on October 1, 2016: "big news Wednesday. now pretend u don't know me". There have been filings about the hacking into DNC e-mails and Hillary Clinton's e-mails.

isis-killer-beheading-video-story-top Major iPhone FaceTime Bug Lets You Eavesdrop on Any iPhone User
Jan 29, 2019 - 06:38
By doing this, the call becomes a group call and the recipient's audio becomes available even if they haven't answered. In some cases, the bug can also show live video of the other person if they press a volume button to dismiss the call.

isis-killer-beheading-video-story-top USA charges top Chinese cellphone maker Huawei with conspiracy, money laundering
Jan 29, 2019 - 05:57
Federal prosecutors insist, however, that they are simply "law enforcement actions and are wholly separate" from the negotiations. U.S. prosecutors are also alleging that the company committed bank fraud by violating sanctions against doing business with Iran.

isis-killer-beheading-video-story-top Fans flock to Gillette Stadium for Patriots Super Bowl rally
Jan 29, 2019 - 05:55
Tim McGraw will be representing country music at Super Bowl LIII on Sunday (Feb. 3). Brady has said they're friends and he refuses to go after Trump.

isis-killer-beheading-video-story-top Arsenal agree terms with long term Manchester United transfer target
Jan 29, 2019 - 05:18
Arsenal , fifth in the league and three points behind Chelsea in fourth, were knocked out of the FA Cup by Manchester United on Friday.

isis-killer-beheading-video-story-top Met Office warns of strong winds for the North East
Jan 28, 2019 - 09:55
A yellow warning is in place for the south of England, East Midlands and West Midlands from 9pm on Tuesday to midday on Wednesday. Nationally, some areas could get up to 10cm of snow on high ground as arctic winds from the north move into the UK.

isis-killer-beheading-video-story-top Manikarnika: The Queen of Jhansi Impresses Audience Overseas, Read Box Office Details
Jan 28, 2019 - 09:48
It also said that the collections were pretty tiresome outside Mumbai circuit with collections getting worse further North. Kangana Ranaut organized a special screening of Manikarnika: The Queen Of Jhansi on Thursday.

isis-killer-beheading-video-story-top How to Watch Royal Rumble 2019 Online
Jan 28, 2019 - 09:25
The hold continued for sometimes before the Balor tapped out to this. "I think that Bálor and Lesnar will have a better match". During the course of the PPV on the WWE Network , there were two Royal Rumble matches: one for the men and one for the women.

isis-killer-beheading-video-story-top Trump says he will deliver State of the Union after shutdown ends
Jan 28, 2019 - 08:28
Democrats have so far rejected the White House's offers to include some deportation protections in exchange for wall funding. And there is a recognition among aides it's harder to keep Trump on-message in a rally versus a more formal address.

Lady Gaga And Bradley Cooper Perform 'Shallow' Live For The First Time
Jan 28, 2019 - 07:22
This is to my knowledge the first performance of " Shallow " they have done together since finishing filming " A Star Is Born ". In one of the more baffling decisions made by the Academy this year, Cooper was excluded from the Best Director category.

isis-killer-beheading-video-story-top Alexandria Ocasio-Cortez Is Only Democrat To Vote Against Reopening Government
Jan 27, 2019 - 15:59
Critics have derided Ocasio-Cortez's plan, saying it could deter Americans from working hard or pursuing higher education. She may not be in Davos, but the NY representative's influence is being felt on the slopes of the Swiss Alps.

isis-killer-beheading-video-story-top Boy, 10, wins science fair by proving Tom Brady a cheater
Jan 27, 2019 - 15:46
On the bright side though, Davis is taking his "deflategate" project to the state level. "He's been accused of cheating before". Some students strive to get "A's" on their science fair projects, but this 10-year-old boy from Kentucky had bigger plans.

isis-killer-beheading-video-story-top 'Dictatorship' row in Nigeria after top judge suspended
Jan 27, 2019 - 15:46
Chief Justice Walter Onnoghen has been asked to appear before a tribunal over allegations of breaching asset-declaration rules. Onnoghen is from Cross Rivers state in the Christian-majority south, while Muhammad is from the northeastern state of Bauchi.

isis-killer-beheading-video-story-top ISRO Launches Student-Made Satellite Kalamsat Along With Military Satellite
Jan 27, 2019 - 15:42
Amid the 28-hour countdown for the launch, ISRO Chairman K.Sivan said the PS4-Kalamsat experiment would be short-lived. The 44.4-metre-long PSLV weighs 260 tonne and attempts to take both satellites into orbit on its 46th launch.