Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released information on day 38 of the Trump-Republican shutdown — which Trump and Republicans initiated because of their refusal to negotiate with Democrats to protect health care for millions of Americans. Today’s release highlights the long-term consequences of the Trump-Republican shutdown, which continues to devastate the economy and push millions of families and small businesses to the brink.
The Trump-Republican Shutdown is Costing the American Economy BILLIONS of Dollars
Experts warn that given the fragile state of the economy prior to the shutdown, it may take years for workers, families, and the economy to bounce back. Economists estimate each week that passes drains between $10 billion and $30 billion from the U.S. economy and deepens the hardship Americans and their families are already facing. According to the Congressional Budget Office (CBO), this crisis could reduce fourth-quarter economic growth by as much as two percentage points, a massive blow that will take significant time to repair. This will result in slower hiring, weaker consumer spending, and reduced production.
For months, the economy has been unstable due to chaotic and reckless economic policies driven by Trump and Republicans. For instance, Trump’s trade wars have fueled inflation and increased costs for families and businesses across the country. Now, this instability is being compounded by the Trump-Republican shutdown, which is putting a major strain on a variety of industries: from airlines and tourism to manufacturing and retail. With millions of Americans out of work, families are spending less and businesses are losing customers, stalling growth across the country. While some economic losses can be recovered after the government reopens, the CBO has estimated that if the shutdown continues through Thanksgiving week, approximately $14 billion in economic growth could be lost permanently.
Republicans Turning a Blind Eye to Economic Decline
Despite this growing crisis, Speaker Mike Johnson refuses to call the House back into session, leaving Republicans on more than a month-long vacation while the economy suffers and American families struggle to make ends meet. Meanwhile, economists continue to sound the alarm on the growing dangers of the Trump-Republicans shutdown which may have irreversible consequences.
Hundreds of thousands of federal workers who have been furloughed or terminated altogether are falling behind on rent, car payments, and loans — financial setbacks that could take years to recover from. Small businesses that depend on federal loans and contracts are losing access to the capital they need to operate, forcing them to downsize or shut down entirely. Experts warn that even after the government reopens, the lost spending, canceled investments, and delayed growth may never return, leaving lasting damage to workers, families and businesses.
Every day that Republicans fail to act, more families fall into hunger and hardship while the economy steadily declines. Democrats are fighting to reopen the government, lower health care costs for American families, and get the country back on track. It’s long past time for Donald Trump and Republicans to end this disastrous and painful shutdown.
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