As the longest government shutdown in U.S. history continues beyond its fifth week, a new analysis shows that it is costing far more than President Donald Trump’s requested $5.7 billion in border wall funding that Democrats continue to reject.
A forecast by Moody’s Analytics economist Mark Zandi found that the partial shutdown will cost the economy $8.7 billion if it lasts until the end of January.
The estimate is based on accounting for lost wages — which will be paid back to federal employees — productivity, and overall impact on the economy at large.
Put another way, because of Democratic intransigence on border wall funding — something they have agreed to in the past — the cost to the U.S. economy and taxpayers far surpasses the president’s requested amount, which, analysts have said, would also lead to cost savings due to reductions in illegal immigration and drug smuggling for years to come.
Previous analyses have noted that the money the president is requested is essentially a rounding error when compared to the entire federal budget for FY 2019 of $4.4 trillion.
One of the biggest obstacles to a border wall funding compromise, which the president laid out over the weekend, is House Speaker Nancy Pelosi (D-Calif.). She has said she won’t allow any legislation aimed at reopening shuttered government agencies to come to a vote if it contains money for the president’s border barriers.
“We’ve seen no indication that Democrats want to work with the president,” White House Press Secretary Sarah Sanders told Fox News’ Sean Hannity Tuesday. “I think it’s a sad day in America when Nancy Pelosi rejects an idea before she’s even heard it.”
Sanders noted further that Pelosi has become “nothing but an obstructionist.”
Never miss a story! Sign up for our daily email newsletter — Click here!