The total economic cost of the ongoing partial U.S. government shutdown would exceed the amount of border wall funding that President Donald Trump is seeking if the impasse in Washington lasts for another two weeks, S&P Global Ratings said.
The U.S. economy will have lost $3.6 billion by Jan. 11, the 21st day of the shutdown, the rating agency said. The amount translates to approximately $1.2 billion every week since the shutdown began Dec. 22, 2018.
That means it will only take another two weeks before the cost of the shutdown exceeds the $5.7 billion requested for the proposed wall along the U.S.-Mexico border.
"The longer this shutdown drags on, the more collateral damage the economy will suffer," S&P said.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.